Brutally poor rates in the dry cargo market took another turn for the worse today against a backdrop of more negative economic news. A six-point decline in the Baltic Dry Index (BDI) extended a crawl into record low territory that has characterized the market this year. The new low benchmark is 363 points. Experts pointed to the International Monetary Fund’s third cut to global growth forecasts in less than a year as a further macroeconomic headache for owners battling a loss making market.
