Baltic Dry Index (BDI) slipped to 554 lowest point as 1986

Baltic Dry Index (BDI) slipped to 554 points, a figure in line with the depths reached in the dark summer of 1986. Dry cargo rates today matched the lowest level ever recorded by the Baltic Exchange.
While the number is the same, the index is today calculated using different routes and vessel sizes. The benchmark was matched on a day that marked the 13th successive decline in the index.
Erik Nikolai Stavseth, an analyst at Arctic Securities, noted in his daily report that troubles in the Chinese steel industry have been a headache for shipowners.
Coal imports to China “dropped off a cliff” in January, coming in at 16.8m tons.
“We argue that the decline in steam coal imports is a far more worrying factor for dry bulk,” Stavseth said.
While the Baltic Dry Index (BDI) shows conditions akin to the 1980s, Clarksons has reasoned the downturn 30 years ago was worse.