Analyst Peter Sand says the dry bulk market has been “extremely bad” since December 2014 – with only supramaxes at $5,002 daily above the $5,000 per day mark when the BDI hit its record low of 509 points in 18 February.
Between March and May, Sand predicts capesize rates will remain in the $3,000 to $9,000 per day range, according to a report issued this morning.
