Capesize weakness drags on Baltic Dry Index, reports Seeking Alpha.
Capesize affecting Baltic index
The Baltic Dry Index fell 4.45% to 1,460 points in London off continued weakness with Capesize rates.
The drop in Capesize in Q4 has been unexpected and could pressure shippers looking to pass on the costs of IMO 2020.
Capesize rates plunged 8.86% to lead the index lower, while Panamax (+3.41%), Supramax rates (+0.10%) and Handyside rates (+0.12%) were all actually higher on the day.
The BDI has now retreated for six days in a row.
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Source: Seeking Alpha
