The Baltic Exchange Dry Index halted a nine-session slide to mark a 2.3% U-turn, climbing to 1,567 points, reports cash buyer GMS. This was driven by gains across segments: Capes (up 2.3%),
The Baltic Exchange Dry Index halted a nine-session slide to mark a 2.3% U-turn, climbing to 1,567 points, reports cash buyer GMS. This was driven by gains across segments: Capes (up 2.3%), Panamax (up 4.3%), and the smaller segments adding four points by week’s end.
“Notably, the overall benchmark index still finished the week down 7.2%. Oil too continued to trip on itself and stayed below the coveted USD 60/barrel mark despite a 0.4% increase, closing the week out at USD 59.44/barrel.
“The U.S. Dollar meanwhile dominated all ship recycling currencies this week, while local steel plate prices across destinations dissolved into a mixed bag of opposing moves — both competitively and historically (i.e., versus last week).
“As such, ship recycling markets may continue to be deprived of tonnage as hopes for a brighter start to 2026 — indicated by the tapering indices back in November – December 2025 — begin to fade once again.”
Prices across the Indian sub-continent have continued on a downward path over the last month, with dry bulk indications at the bidding tables regularly below USD 400/LDT and several sales reportedly even being concluded in the USD 370s–USD 380s/LDT range.
Across destinations, India briefly surged
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