Dry cargo rates sank further into uncharted territory today amid concerns of more pain ahead for asset prices and continued talk of lay-ups.
The Baltic Dry Index (BDI) set a seventh successive record low and simultaneously slipped below 400 points for the first time.
The latest benchmark of 394 points was again mostly driven by falling capesize rates.
“It’s a sad, sad situation and has been a sad situation for quite some time,” said Sverre Bjorn Svenning, managing director, Fearnley Consultants, at a conference in London this morning.
“It’s
