Softest start for dry bulk shipping since 2020
With January officially behind us, we can officially state that dry bulk shipping in 2023 is on its softest start since 2020.
Good News : We are at the technical floor. In previous brutal declines, C5TC hit absolute bottoms at around $2,500/day.
We closed at $3,475 as of 6-Feb-2023.
Bad News : If activity does not significantly ramped up in the coming months to play catch-up, it will likely have a dampening effect for balance of 2023.