BDI falls over 10% in first week of 2016 hitting successive lows

The BDI fell a further 16 points on Friday to a new low of 429 points just over 10% lower than it started the year. The index had ended 2015 at 478 points, just seven points above an all time low of 471 points set in mid-December.

Dry bulk shipping markets have been hit by fears over the Chinese economy as its stock markets made a rollercoaster start to 2016 with the Shanghai Stock Exchange suspending trading on to separate days as the market fell by over 7%. This combines with already serious overcapacity in the dry bulk shipping market.

Add Seatrade Maritime News to your Google News feed.