The first trading week of the year and only the very bullish can have been expecting puppies in a basket. The fact that instead we got bears of all persuasions was perhaps no more than the market deserved but the convergence of bad news was hardly a good omen for the coming year.
The Baltic Dry Index (BDI) closed the year just a few points shy of its all time low.
Underscoring the grim nature of the dry bulk market Diana Shipping has extended a charter on one its capesizes for just $6,500 per day.
In 1812, Russia beat back the advance of Napoleon’s army. On 18 December 2015 there is a similar tone of seasonal retreat, with most hopes pinned on the New Year. Shame there’s no-one around to write a symphony about it.
The Baltic Dry Index (BDI) has sank further to a new historic low on Wednesday, falling by 13 points to 471 on Wednesday from 484 on Tuesday.
The global dry bulk shipping market has been hit further by another record low Baltic Dry Index (BDI) at 484 points on Tuesday, following a previous low of 498 points on 20 November.
The rout of the dry bulk shipping market continued on Friday with the Baltic Dry Index (BDI) dropping below 500 points for the first time ever.
As dry bulk shipping woes continue to mount the Baltic Dry Index (BDI) hit an all time low on Thursday.