Dry cargo rates descended further into the pit today with the Baltic Dry Index (BDI) threatening to slump below 300 points for the first time.
The latest in a procession of record low readings was 303 points as a minimal climb in the panamax sector was comfortably offset by declines elsewhere.
Shipbroker Allied on Monday suggested the BDI could reach a theoretical floor at 236 points; and with charterers continuing to drive down rates that figure is creeping closer on a daily basis.
Indeed,
