The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with average time charter earnings rising to more than $6,000/day.
The dry market sentiment is still so fragile with the BDI posting a decline on a weekly basis.
The capesize segment remains in unprofitable territory affecting negatively the overall performance of the index. However, capesize vessels showed this week the strongest performance with the BCI recording a 6.7% week-on-week increase in contrast with a 7.8% decline in the supramax segment.
From the end of March, supramax vessels appear to loose their solid performance that posted during the month with average time charter earnings falling below $10,000/day.
The BDI closed on Thursday April 5th, at 928 points, down by 0.6% from last week’s closing and down by 34% from a similar week closing in 2011, when it was 1,401 points.