Whats the meaning of -20 BCI ?
First to know the implication of the figures, we have to first know what is BCI, BCI is Baltic Exchange Capesize Index, in a much simpler terms is a index to represent the time charterer and voyage charterer of the capesize bulk carriers.
First sight on the figures -20, it could be easily interpreted as there will be money give to you if you hire a capesize vessels to ship your products. Obviously it couldn’t be the case, the spot rate is around 39xxUSD/day for a capesize vessel but it could be a good glimpse of how bad the bulk market is going to take.
Shipping industry had been suffered a lot since a jab (trade war from US and China), a hook ( IMO2020 push the bunker price from 3XXUSD/MTD to highest 7xxUSD/MTD ) and could be landed another cross ( cornavirus all over the world). With the low freight rate and increasing cost, its hard to expect a good year for the industry.
Until next time !
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