Baltic Dry all-time low harbinger of major bulks smash?

Via Reuters:

The capesize component of the Baltic sea freight index plunged to an all-time low on Thursday, hurt by high fuel costs owed to new shipping regulations and a seasonal slowdown worsened by a coronavirus outbreak.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 27 points, or 5.1%, to 498 — its lowest level in over 3 years.

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