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.

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