ShippingWatch

Capesize index approaches lowest level ever

The Baltic Capesize Index is still under pressure, and last week it approached a historic low point. Some shipowners are well-bolstered against this adversity, while others are severely affected, believes investment bank.

Photo: Songa Bulk

"Cape bulk carrier charter rates have sunk to near historical lows," says shipbroker Compass Maritime in the introduction to a new report on the dry bulk sector, which can be read here.

"The BCI (Baltic Capesize Index, -ed.) closed at 150, yes 150, which is a massive drop compared to 12 months ago when it was close to 1100!" the report further says.

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