Dry bulk spot rates sink but futures point to bigger rebound after Chinese New Year

The dry bulk spot market may remain in the doldrums over the next few weeks, but bulker futures have been on the rise, pointing to a stronger rebound after the Chinese New Year.

On Tuesday, the Baltic Dry Index, a broad-based measure of the bulker spot market, fell to 946 for the first time in more than two years.

Spot rates for key bulker sectors have continued a steady decline from late December fell further as Asia shuts down manufacturing for the week-long holiday starting on 22 January.

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