Dry-cargo rates Wednesday reached a new post-Lehman low after falling for a 31st consecutive session.

The Baltic Dry Index hit 662 points, slipping below the previous modern bottom marker of 663 points set in December 2008. 
 

RS Platou Markets said: “Despite the return of Chinese players from holidays, fixture activity has so far failed to recover.

“We note almost non-existent spot bookings in line with the past weeks, likely a result of a wait-and-see stance being adopted by charterers.

“Tonnage lists continue to expand, postponing any major recovery in rates.”