Big dip in rates strain Nordic dry bulk operators after tough 2019

Klaveness pulled 20 percent of its chartered fleet out of the market last year. Following a slide in rates since the start of the year, the shipping company expects lower activity in the first quarter of the year. Shipping company Norden also sees a weak start to the new year after a challenging 2019.

Photo: PR / Klaveness

2019 became a difficult and challenging year for the dry bulk sector. And the new year has started with a drop in the Baltic Dry Index of no less than 27.4 percent.

As such, several shipping companies which ShippingWatch have spoken to are waiting anxiously to see how the market develops in the time to come.

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