Last month we wrote that, “If it’s a case of full steam ahead and damn the torpedoes, dry cargo shipowners are happy to pay up and take the risk.” Any ship they bought in March will not have delivered yet, but will the buyers therefore be relieved not to have experienced the 16% fall in the Baltic Dry Index over the 30 days to April 19, or will they fear having bought into a market peak?
The Baltic Capesize Index stood at 3,482 on March 22 (our last report date), some 25% higher than a month…
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