Dry bulk market’s downturn sees no relief

The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79% this past week, to reach 1,370 points, thus falling below the 1,400-point mark and reaching its lowest level since early February of 2009. Since the beginning of New Year the BDI has plunged by 17.7% and is down by 56% from January 2010. As it turns out, the panamax segment suffered the most this week, while Supramaxes and Handysizes reversed their falls and turned positive.
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Source: Hellenic Shipping News