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Chinese import "on steroids" results in Baltic Dry Index record

The leading Baltic Dry Index for the dry bulk market is at its highest in 10 years. Most recently, capesize has skyrocketed on an extraordinarily strong Chinese import, according to shipping organization Bimco.

Photo: PR / Oldendorff Carriers

The bulk market has been off to a historically strong start in 2021, and the leading dry bulk index, Baltic Dry Index, is now at the highest level in more than 10 years.

Stimulus packages around the world during the many coronavirus lockdowns, coupled with an unusually strong Chinese import of particularly coal, has since the start of the year triggered the highest rates since October 2010.

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