Splash Extra

‘Bulk carriers have a pronounced case of the mid-year blues’

Splash Extra identifies the reasons for the current lull in the markets.

Bulk carrier freight rates have increased in June every year since 2016, but this year they went down. The BDI averaged 2,412 in June after 2,943 in May. The average for the first three weeks of July was 2,083 as the loss of momentum we reported a month ago has continued. Bulk carriers have a pronounced case of the mid-year blues.

Macro-economic signals are affecting sentiment. China’s GDP growth figure for Q122 of just 0.4% came as no surprise after the lockdowns, but the Chinese manufactur...

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