Over three weeks into 2016 the Baltic Dry Index (BDI) has finally halted a run of successive declines. Climbs in the capesize market countered falls elsewhere to leave the BDI level at a historic low of 354 points on Monday. It comes amid widespread talk of layups and with Jinhui joining Norden in extending expectations for a recovery. The Baltic Capesize Index was up 25 points to 254 on Monday, with some improvements on all key routes. It follows a 9% rise in the cape market last week, all be it to a low $3,000 per day. Monday’s progressed continued the trend, easing rates to $3,200 per day.
