The Baltic Dry Index fell more than 14%, from 2,973 on October 8 to 2,545 on October 15, mainly because Capesizes dropped from 4,512 to 3,322, while Supramaxes rose to 1,856. Recycling indications at all four destinations were unchanged, and no fresh market sales were reported this week. In the Strait of Hormuz, the Singapore-registered GFS Pride was struck on October 13 and later sank after catching fire, while GFS Giselle sustained hull damage; all 43 crew were reported safe. The IEA plans to accelerate the release of about 100 million barrels of emergency oil stocks, yet Brent remained around USD 105 to 106 per barrel. The article argues that one week's correction is not enough to change owners' decisions, since route risks keep ageing tankers more attractive to trade than to recycle.
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