Baltic Dry Index falls below 400 points for first time ever

Baltic Dry Index falls below 400 points for first time ever

The Baltic Dry Index (BDI) has today fallen below 400 points for the first time in its history, and today’s reported fixtures show charterers are paying as low as $2,000 per day for capesize vessels on the Western Australia to China route.

The BDI fell 8 points today to 394, completing seven consecutive trading days of record-breaking lows.

The capesize market is now officially even worse than it was during January 2015. The Baltic Cape Index (BCI) set a record low of 266 points on Tuesday, which it surpassed today by falling a further 21 points to 245.

Alpha Bulkers’ capesize Maria A Angelicoussi (169,150 dwt, built 2001) was reportedly booked by DHL for just $2,000 daily for a trip from Xingang, China via Newcastle in Australia, redelivering in China.

Topsail took the cape Alpha Liberty (179,276 dwt, built 2011) for $2,500 daily on a spot trip from Fangcheng in China via Australia, redelivering in China. The vessel is also owned by Alpha Bulkers, which is led by Anna Angelicoussis Kanellakis.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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