Tamer Kiran, Board Chairman of IMEAK Chamber of Shipping, said that the slowdown in the global economy also led to noticeable declines in the maritime markets.
Noting that the slowdown in the global economy had a negative impact on the maritime markets, and significant decreases were observed in the maritime markets for the last month, Kiran said that the main address of the decline was the dry and bulk cargo markets.
Kiran said, “Baltic Dry Cargo Index (BDI) had come out on top of the last 10 years, taking the value of 5650 as of October 7, 2021. From this point on, the Index, which regressed rapidly to 2805 on Tuesday, November 9, has thus decreased in value by 50.4 percent in the last month. Tamer Kiran noted that in the container market, there was no drastic decrease in bulk cargo, and that even by reason of the increase in trade volumes due to logistics failure and port traffic, container freights reached a historical record level in the week of October 22, as well as albeit limited, decreases have occurred since then.