SEOUL, KOREA- With the Baltic Dry Index (BDI) surpassing the 2,000-point level, expectations are growing that the shipping companies will show improvement in performance. A group of shipping companies, including Hyundai Merchant Marine and Hanjin Shipping, which run bulker fleet, are expected to benefit from the hike in BDI.According to the Korea Maritime Institute on September 29, the BDI, which is announced by the Baltic Exchange on a daily basis, surpassed the 2,000-point level, first in two years. After hovering at around 900-1,100 point levels between late August and early September, the BDI shot up to 2,021 on September 24.

A Hyundai Merchant Marine official said, "Key factors behind the rise in BDI include an increase in demand for iron ore and bituminous coal ahead of the fourth quarter, plus an increase in the U.S. grain exports." He added that Chinese companies are expanding investment in iron ore based on expectations that the economy will take an upturn."

As the BDI broke the 2,000-point mark which has served as a psychological barrier, expectations are growing among shipping companies for an improvement in performance.