Dry bulk shipping rates fell again this week on lower global steel production and bearish Chinese coal outlook.
Desperate ship owners were also starting to charter vessels at lower levels, meaning rate may remain suppressed as this becomes the new norm.
The Baltic Dry Index (BDI) was 704 on 22 February compared with 731 on 15 February. Capesize, Panamax, Supramax and Handysize were 1460, 871, 641, and 389 respectively.
Rates were lower again after a...