The dry bulk market has logged eight consecutive increases, prior to yesterday’s halt. In its latest weekly report, shipbroker Xclusiv commented that “everyone is watching the “crazy” rally in the dry market. On Friday 1st December 2023, Baltic Dry Index stood at 3,192 points, the highest point since 24th May 2022, having a more than double increase of 128% since the 1st of November. Baltic Panamax and Supramax indices have 20 and 18 consecutive positive closings, risen by 57% and 33% respectively month to date, while the Handysize index counts 13 consecutive positive closings and has just risen 19%. All three indices are at their highest levels of more than 13 months.
