The Baltic Dry Index (BDI)’s positive effect on capacity being removed from the fleet did not continue into Q2 2016, as capesize demolition came to a halt.
BIMCO expects the container shipping fleet to break through the 20 million TEU barrier shortly.
On 12 April 2016, the International Monetary Fund (IMF) released its updated World Economic Outlook stating that future economic prospects are now so poor that an immediate, proactive response is called for.
Our recommendation remains to balance your exposure to market by seeking a fixture in the time charter market.
On 10 February 2016, the Baltic Dry Index (BDI) hit 290. At that point, a bulk carrier regardless of its size, age and fuel-efficient qualities earned a time charter average of USD 2,417-2,776 per day.
The demand for container shipping is stalling at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade.
In an exclusive interview with “Akti Miaouli” newspaper, BIMCO Chief Shipping Analyst, Peter Sand, provides insight into the markets for dry bulkers, tankers and containerships in 2016 and what to expect going forward.