Shipper charters vessel for free on freight slump

Published: Thursday, 09 February 2012

Baltic Dry Index finds bottom as some vessel owners lease ships for nothing

The cost of sea-borne dry bulk transportation finally steadied this week after rates fell nearly 85% in two months.


Rates had become so dire, shippers even allowed vessels to chartered for nothing, and helped paid for fuel.  This indicated the market had found the bottom and that ship owners...

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