In the most torrid two weeks to 2016 imaginable, the Baltic Dry Index (BDI) has fallen nearly 22% since the start of the year.
As the key dry bulk shipping indicator continued successive all time lows it slumped a further 10 points to 373 on Friday.
The weekly Baltic Briefing commented: “Record lows this week for all sizes with the capesizes particularly hard hit and now more owners are beginning to take the option of idling vessels or considering lay-up.”
The latest fall means that the BDI has plunged 21.9% since the beginning of the year when it was already just seven points off its all time low seen in mid-December 2015.
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