Baltic Freight Index Ends Week Near 9-Year Low

Forward enquiry is reported to be weak in most commodities and brokers believe substantial volumes of grain will be required from the New North American crop to lift the freight market. Conditions were no better on Wednesday, with the BFI dropping to 1,011. On Thursday, the BFI stood at 1,003, or just above 1,000, a level not seen since August 1987.

Shipbrokers blamed the decline on a glut of new ships entering the market for bulk dry cargo