Dry bulk market feels impact of Chinese holiday
The Baltic Dry index has dropped below the 1,000 level — the lowest in about nine months — as the Chinese New Year holidays spell sluggish demand for the all dry bulk segments. An abundance of tonnage in the Atlantic and Pacific basins has also dragged rates on all the major routes
Listless tonnage and limited demand put pressure on all the major dry bulk segments, pushing the BDI to 982 points compared with 1,282 points in the beginning of the year
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