A single point rise in the capesize index could not prevent the dry cargo market slipping further into record low territory today. Continuing a trend of successive daily lows in 2016, the Baltic Dry Index (BDI) today slumped to 358 points. Slowing growth from China is the main driver with China yesterday reporting 2015 GDP of 6.9%, down from 7.3% in 2014 – but industrial output is falling faster as the figure for 2015 was 6.1% vs 8.3% for 2014.
