Baltic Dry reaches lowest point since December 2020
The Baltic Dry Index has reached its lowest point since December 2020. Capesize rates are bottom of the barrel, and China is the big joker in the mix, says Cleaves Securities Head of Research Peter Michael E. Christensen to ShippingWatch.
Not since December 2020 has the Baltic Dry Index been at a lower point. The index declined by 39.92% in August compared to the previous month. According to Cleaves Securities Head of Research Peter Michael E. Christensen, the low market is mainly due to China.
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