A major revamp of the Baltic Dry Index (BDI) to be launched in the new year is opening the possibility it could be used as the platform to launch Exchange Traded Funds (ETFs).

Plans to make the BDI more accurately reflect the volumes of cargo being carried by each vessel sector were revealed this week. It also emerged that a prospectus has been filed separately with the US Securities & Exchange Commission to issue shares in an ETF managed and controlled by New Jersey-based ETF Managers Capital.