Norden: "The market has pretty much collapsed"

The dry bulk rates have been rattling down to such an extent that Norden's head of dry cargo, Christian Vinther Christensen, tells ShippingWatch that the market has "pretty much collapsed" in recent weeks. This downturn is the result of a toxic cocktail, he explains.

Photo: Norden

A surprisingly weak fourth quarter in dry bulk has so far been followed by an even worse start to the new year, as the dry bulk index Baltic Dry has gone down by more than one third. A development that has a big impact on dry bulk shipping companies such as Norden.

"The market has pretty much collapsed in the past two weeks, and that's a big challenge to most players," says Christian Vinther Christensen, head of dry cargo at Norden's dry bulk operating business, to ShippingWatch.

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