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BDI falls over 10% in first week of 2016 hitting successive lows
The Baltic Dry Index (BDI) has fallen over 10% in the first week of trading in 2016 with a successive series all time lows.
1 Min Read
Kalyakan - stock.adobe.com
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.
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