Cullinane, K P B; Mason, K J; Cape, M - In: Maritime Economics and Logistics 1 (1999) 2, pp. 15-39
The Baltic Freight Index (BFI) is a widely recognised barometer of dry bulk freight rates. As such, its composition is monitored continuously. In 1993, all handy size trades were expunged from the BFI. This paper tests whether the change in the composition of the BFI has altered its underlying...