According to an article published in Seeking Alpha and authored by Clark Schultz, the Baltic dry index is facing a plunge due to a lull in the global economy.
Market conditions
- The Baltic Dry Index fell 4.67% to 694 points in London to follow on the 3.83% decline on Tuesday.
- The Baltic Dry Index bottomed out at 411 on February 10 and traded as high as 2,518 last September.
- Capesize rates fell back 6.6% and Panamax rates were down 3.88%.
- Seasonal and demand factors are reported to be a larger factor in the two-day drop than transportation restrictions and quarantine measures.
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Source: SeekingAlpha
