Bimco: Higher dry bulk rates make carriers halt scrapping

The improving dry bulk rates put a damper on carriers' desire to scrap vessels, notes Bimco on the basis of numbers from the Baltic Dry Index. The development impacts Capesize vessels in particular.

Photo: Golden Ocean

The benchmark Baltic Dry Index (BDI) reached an all-time low in February 2016, and this development made the hard-pressed dry bulk carriers scrap a record number of vessels in the first quarter of the year.

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