The capesize bulk freight market is “bombed out”, “in free fall” or has “fallen off a cliff”, depending on which shipowner or shipbroker you speak to.
The message is the same, but you don’t need a metaphor to describe the situation — just look at a graph.
The Baltic Dry Index, which takes into account panamax and other dry tonnage that is in fact doing slightly better than capesizes, plunged from nearly 1,800 to less than 650 points in little more than half a year.
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