Shipping Stocks Extend Loss as BDI Falls to Near 3-Month Low
Shipping stocks plunged on Monday as Baltic Dry Index extended its loss to the lowest since August 2021.
The share price of shipping stocks in the Thai stock exchange plunged on Monday as Baltic Dry Index extended its loss to the lowest since August 2021.
The Baltic Dry Index (BDI), a composite of the Capesize, Panamax and Supramax Timecharter Averages, continued to move downward, pressured by the ongoing concerns over demand and supply issues. The index dropped 3.06% to 3,519 points, its lowest since August 13.
Meanwhile, the capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, fell 4.3% to the lowest since August 10, 2021, over the intervention of China in the coal markets.
As of 16:10 local time in Thailand, the share price of Thoresen Thai Agencies Public Company Limited (TTA) fell ฿0.80/share or 6.90% to ฿10.80/share.
Regional Container Lines Public Company Limited (RCL) fell ฿2.00/share or 4.57% to ฿41.75/share.
Precious Shipping Public Company Limited (PSL) fell ฿1.20/share or 6.63% to ฿16.90/share.