Rates for shipping dry bulk raw materials carried on sliding this week after a raft of bearish economic data shook confidence in the global economy.
The world’s top two steel makers – China and Japan – also forecast tough times ahead, meaning they would import less iron ore and coal as well as industrial minerals.
The Baltic Dry Index (BDI) slumped further at 1260 on 3 August compared with 1296 on 27 July 2011. Capesize, Panamax, Supramax, and Handysize...