The Baltic Dry Index bounced back quite nicely in February and has remained fairly flat in March. Interesting the first quarter slump seems to have been shorter than previous years but as this months data suggest the start of the year has been much better than the past 5 years. However the freight market has seemed to settle in that pre-Coronavirus rhythm of lower Baltic freight rates.
Coal demand seems to be consistently stronger in all parts of the world as we adjust from the shortfall of gas from Putin’s war. As a result Panamax and Supramax vessels appear to be performing better than the other size segments. While iron ore trade is stronger this year than last, the overall decrease from Chinese Demand is noticeable and yet again is the country to watch in terms of economic progress.