A sudden severe winter for dry bulk shipping market
Since the second half of last year, dry bulk shipping market experienced a sudden and dramatical change which caught ev-eryone off guard in just a few months' time. As the wind vane of dry bulk shipping market, BDI index (Baltic index) has been climbing higher and higher from the middle of 2005. It began to nearly shoot up into the 2007. From the middle of 2007 to the early 2008, BDI index increased by about 6,000 points within a short time of half a year and reached topped around11,000 points.However, after it peaked at the historical 11,793 points in the middle of 2008, the index took a scary nosedive and plunged to 1,100 points in November, 2008, evaporated over 90%.