The worst commodity shipping market in 26 years may persist next year as an oversupply of...
Thursday, December 20, 2012, 6:45 PM ETThe worst commodity shipping market in 26 years may persist next year as an oversupply of vessels continues to curb ship owners’ ability to boost charter rates, according to shipbroker Clarkson. Dry bulk shipping rates have plunged 71% since Nov. 28, with both capesize and panamax shipping rates declining for 16 straight days. Baltic Dry index -58.5% YTD.
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