Sentiment among dry bulk ship owners seems to be at a new high as Baltic Dry Index (BDI) hit a 34-month record at 1,332 points, according to a weekly shipping report from Allied Shipping Research.
The market increase that has seen some routes on the Capesize Index reach a three-year high has been driven by the increased activity noted in the coal and iron ore trade, especially from China.
The country’s increased imports of coal and iron stem from a higher demand resulting from the Chinese government’s decision from 2016 to reduce production levels of its coal and steel.
