The Baltic Dry Index (BDI) fell to its lowest level in a half year as holidays and lacklustre demand weighed heavily on dry bulk shipping.

The BDI, which serves as a barometer for dry bulk market performance, slipped 5.3% over the past week to 1,477 points on Friday to go under 1,500 points for the first time it came in at 1,422 points on 7 February.