Dry bulk enthusiasm at the beginning of the year is giving way to caution again as the Baltic Dry Index (BDI) retreats from its best level since November 2014 due to weaker commodity markets.
The index is still up year on year by nearly 38%, allowing most owners to at least achieve break-even results. But the widely watched barometer of dry bulk shipping has dropped from 1,300 at the end of March to 849 this week.
