Shipping Rates Fall Due to Coronavirus


The Baltic Dry index fell on Monday February 3rd to its lowest level in four years due in part to disruption in trade with China. 


Coronavirus caused the Central government to extend the Lunar New Year holiday and ports in China, if operating, are functioning at low capacity.  The sharp fall in demand for shipping especially for commodities is attributed to disturbances in the transport system denoting the interconnectivity of trade among nations.