BDI records first monthly decline in four months amid weak shipping demand

 

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The Baltic Dry Index recorded its first monthly decline in four months with rate for all vessel types falling.

The BDI tumbled 13% to hit 977 points on Wednesday, marking the lowest level since Feb. 27 and slumping 38% in May. 

The capesize freight index fell 24%, to 1,218, marking the biggest drop since Feb. 14, bringing its monthly drop to 47.1%, the first monthly decline in four months.

The Panamax freight index tumbled 34.1% in May, the worst monthly performance since August last year.

The ultra-portable bulk carrier tariff index slipped 3.2% to 881 points, marking the lowest since late February.