Being a Dutch ex-linershipping broker please note the Baltic dry index is a spot-market which trades futures for bulkcarriers. A recent article of John Kemp in the Hellenic Shipping News explains a lot. "clearing queues at the massive commodity export harbours in Brazil and Australia have returned millions of tonnes of bulk carrying-capacity to the market. Clearing queues rather than a sudden downturn in trade volumes provides the best explanation for plummeting rates." The full article is available at "Freight index does not herald end is nigh: John Kemp"
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