ShippingWatch

Sustained downturn threatens dry bulk with new recession

Dry bulk could be heading for a new recession similar to the dramatic downturn in 2016, reads the pessimistic assessment of shipping professor Roar Os Ådland after a prolonged dip in the Baltic Bry Index.

Photo: Norden

According to Professor Roar Os Ådland from the Norwegian School of Economics, if the global economic slowdown continues, it could hurl the dry bulk sector into a recession similar to record-low levels from 2016 – the market's historic low point.

The rate level has plunged day after day thus far 2019, when the Baltic Dry Index was almost cut in half, and most observers agree that seasonal fluctuations can only partially explain this year's exceptionally poor beginning.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Container vessels spend more and more days waiting off major ports

There are no signs that the congestion issues affecting major container ports near Los Angeles and Long Beach are on the verge of resolution. On a global level, the time spent in port for vessels has increased by 11 percent in the last six months, according to analyst firm.

CMA CGM hit by new cyberattack

CMA CGM has been hit by another cyberattack, resulting in a "data leak of limited customer information", informs the French carrier. A year ago, hackers brought down CMA CGM's website.

Stena Line to deploy electric ferries

By 2030 at the latest, Stena Line plans to deploy two electric ferries on the route between Sweden and Denmark. The ferries will be battery-driven, approximately 200 meters long and be able to fit 1,000-1,500 passengers.

Further reading

Related articles

Trial banner

Latest news

See all jobs