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Baltic Dry Index drops to new all time low
The Baltic Dry Index (BDI) fell to its lowest level ever on Wednesday dropping to 553 points.
1 Min Read
Kalyakan - stock.adobe.com
The index’s previous all-time low was 554, which it hit on Monday this week and 6 August 1986.
The BDI had rallied slightly on Tuesday moving up to 556 points before falling back 0.54% on Wednesday.
The collapse in the dry bulk freight rates is being blamed on lower commodity prices, reduced demand and an oversupply of ships.
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