Recovering from a 4-year low in 2022 driven by slow ordering activity during 2019-2020 (e.g. new IMO 2020 fuel regulations & Covid pandemic), the acceleration in the addition of new bulk carrier in the fleet has been a significant contributor for keeping the average Baltic Dry Index at a 3-year low so far this year.
If you would like to get more information on this topic and the impact on the freight market, please reach out to us on: [email protected].