The Baltic Dry Index and performance excellence in a crisis environment

Jurun, Elza; Ratković, Nada; Moro, F. dal

doi:10.17535/crorr.2015.0026

Cited by 4 publications

(5 citation statements)

References 11 publications

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“…The predictive results have been found valid both in the long as wells as short-term. Jurun et al ( 2015 ) find a strong positive correlation between annual BDI values and performance excellence indicators measured by the adjusted Altman z -score for maritime companies. Apergis and Payne ( 2013 ) analyzed the information and predictive content of BDI on a wide array of financial assets and macroeconomic parameters such as stock market returns, the interest rate of short-term and long-term bonds, commodity prices, and oil price.…”

Section: Introductionmentioning

confidence: 99%

The asymmetric relationship between Baltic Dry Index and commodity spot prices: evidence from nonparametric causality-in-quantiles test

Bandyopadhyay

Rajib

2021

Miner Econ

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Section: Introductionmentioning

confidence: 99%

The asymmetric relationship between Baltic Dry Index and commodity spot prices: evidence from nonparametric causality-in-quantiles test

Bandyopadhyay

Rajib

2021

Miner Econ

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“…This index has been the subject of many research by both regional and foreign researchers. In their work, Jurun et al (2015) investigated the relationship between the BDI as an indicator of the cyclicality of the maritime market and the performance of selected shipping companies in the period from 1985 to 2013. Based on the conducted research, they concluded that there is a statistically significant correlation between the annual level of the BDI and the per-formance indicators of the selected shipping companies.…”

Section: Review Of Relevant Literaturementioning

confidence: 99%

Global market factors that impact Baltic Dry Index

2022

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The Baltic Dry Index is used as a strategic tool by shipping companies to monitor the daily movement of freight rates for the transportation of bulk cargoes on predetermined routes for the different types of bulk carriers. Therefore, the management of shipping companies pays great attention to the factors that can contribute to the prediction of the price movement of the Baltic Dry Index. Main goal of this paper is to explore if stock market indices of United States of America (S&P 500 stock index) and China (Shanghai stock exchange Composite index), 10 Year bond yield, CRB index, WTI Crude oil and Gold as global market factors, but also as leading macroeconomic global indicators, have impact on movement of BDI. We explored period from January 1, 2003 to December 31, 2021, with monthly data for which the multiple linear regression method was used to analyse mentioned global market factors impact on BDI. The research found that the movement of S&P 500 and SSECI stock indices and CRB index had a positive impact on the movement of BDI, while the movement of Gold and WTI crude oil had negative impact on BDI for the observed period. The scientific contribution of this paper is manifested through observation and exploring relationship of mentioned global market factors with BDI, previous papers observed shorter time period and included macroeconomic indicators which are lagging, together with some global market factors.

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“…and Kavussanos, Visvikis, and Menachof (2004) utilize co-integration analysis to examine the Forward Freight Agreements (FFA) predictability in the Panamax freight market. Jurun, Ratković, and Moro (2015) examined the relationship between the BDI, as the key indicator of economic and business activities, and the business results of companies, who deal whit sea transport (shipping companies). They have studied the relationship between the BDI and performance excellence of the representative shipping companies.…”

Section: Literature Reviewmentioning

confidence: 99%

“…They studied the business performances of the selected shipping companies. Jurun et al (2015) used the adjusted Altman Z-score to measure business results. The conclusion of their study is that the BDI represents a good buying or selling signal for certain shares.…”

Section: Literature Reviewmentioning

confidence: 99%

Examining the Impact of Movements of the Commodity Price on the Value of the Baltic Dry Index during Covid19 Pandemic

Radivojević¹,

Muhović

Joksimović

et al. 2021

AJEER

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The Baltic Dry Index (BDI) is one of the most well-known indices, as it is perceived as a leading indicator of economic activity. Reductions in the movement of people, commodities, and capital in the conditions of economic crises, such as the one in 2008 and 2009, as well as the current economic crisis generated by the COVID-19 pandemic, were affected by the reduction of economic activities. It is interesting to point out that the analysis of the basic trend of the BDI movements in the period before the economic crisis shows that the index fell to near record lows just before the derivatives and credit crisis hit stocks full force. This is a clear signal that the index can be used as a tool for stock market forecasting. The paper aims to examine whether the changes in these raw materials affect the changes in the value of BDI. For these purposes in the paper was use GMM and 2SLS estimator. The results show that different raw materials have a different impact on the value of the BDI, which indicates that based on individual movements value of raw materials which composes the BDI cannot forecast its movement.

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The Baltic Dry Index and performance excellence in a crisis environment

Cited by 4 publications

References 11 publications

The asymmetric relationship between Baltic Dry Index and commodity spot prices: evidence from nonparametric causality-in-quantiles test

The asymmetric relationship between Baltic Dry Index and commodity spot prices: evidence from nonparametric causality-in-quantiles test

Global market factors that impact Baltic Dry Index

Examining the Impact of Movements of the Commodity Price on the Value of the Baltic Dry Index during Covid19 Pandemic

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