Freight market at record low
The freight market for 2012 was at a record low, with the Baltic Dry index at its lowest in 25 years. A Lloyds List report demonstrates that the BDI was 920 for 2012, when in 1998 it was 945. The lowest the BDI has been was 715 in 1985/
According to international analysts, the volume of Chinese imports was not enough o bring balance to the freight market in 2012. Despite the satisfactory rate of Chinese imports, the downward trend of the economy, in conjunction with the great supply of freightes has not only countered imports, but created a negative balance between supply and demand, especial with regards to larger tonnage vessels.
Data from the Clarkson firm indicates that there are 9,464 freighters in operation, compared to 6,944 in 2009, marking a 36% increase.