Streaky BDI is back

Baltic Dry Index (BDI) is back in streaky mode - 9 consecutive down days.

Late yesterday, was perusing a shipping brokers report (Intermodal), and notice that we’re back to the flip conditions (Smallest category vessels [Handysize] earning more than their largest cousins [Capesize]) by almost double

Page 3 chart…

That’s the spot market. If you look at the Top of the second column, same page, you see two Panamax category charters booked last week with rates comparable to the spot Handy.

Further along, Page 5-6, lots of dry bulker vessel sales at reasonable levels. The largish transaction by Maran suggests one owner is tidying somewhat. FWIW, Maran is a large Greek family-run shipping business (private) with hundreds of vessels across multiple shipping sectors.