Shipping and Logistics

February 14, 2016
Logistics Report for Mid-February 2016
Written by Sandy Williams
Seaborne shipping market rates continue to plummet with the Baltic Dry Index reaching another new low this past week. The Index stood at 290 on Wednesday, Feb. 10; a year ago on that date the BDI stood at 556. To get a better perspective on how bad things are, the highest level ever reached was a temporary peak of 11,793 on May 20, 2008.
MID-SHIP reports revenue for ship owners has dried up, asset value crashed and the risk of counterparty default looms on a daily basis.


