After the biggest annual increase on record, 176% in 2021, the Baltic Dry Index (BDI) is set for one of its biggest annual falls on record this year, being down 33% already, the biggest drop since the end of the previous cycle in 2015 when it fell 35%. Only a strong December can prevent this, but how certain is that? The BDI rose 5% in September to 1,487 points, and 22% in October to 1,814 points, but it has given up all these gains and more in a 29% fall during November to reach 1,292 on Novem...
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