Drybulk Shipping Rates Plunges Due To A Lull in Global Economy


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.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: SeekingAlpha


This site uses Akismet to reduce spam. Learn how your comment data is processed.