It was supposed to be the year everyone in dry bulk had been waiting for. After years in the day-rate dumps, analysts and owners alike predicted that the tail end of 2014 would see a market jump that would mark the start of a cyclical upturn.
But it was not meant to be.
By the middle of December, after a brief uptick, the benchmark Baltic Dry Index (BDI) was back below 900, levels not unlike those of December 2008, after the bulker market crash.
A
