Study on the fluctuant characteristics of freight index in world dry bulk shipping market subdivided with ARCH model

In the past study on BFI, BDI only made a total conclusion to the freight rate tendency of the market in world dry bulk shipping market. However, three markets (Handy type, Panama type, Cape type) subdivided have their different characteristics nowadays and are dependent on each other. Therefore, it is valuable to make deep research to them. For this reason, combining the latest market trends and analytical methods of the series of economy time on the basis of job that forefathers did, this paper starts with the Baltic Sea freight rate index (BCI, BPI) in world dry bulk shipping market and the changing rate of logarithm of Hyde´s freight rate index (JEHSI) to investigate the fluctuation law of the index in order to draw the inherent regularity that the index fluctuates, offer the effective basis of holding the market situation, and even help evading price risk investor encounter