The trend of bulk and tanker rates outperforming containers seen in late 2016 abruptly reversed in January. The Baltic Dry Index dropped 16% to its lowest since September, possibly due to lower demand resulting from the early lunar new year holidays. The Baltic Dirty Tanker rates also dropped 17% even though oil prices only dropped 2%. That may reflect financial support to be provided to South Korean shipbuilding. Container rates climbed 8%, led by China-to-Europe and U.S. east coast rates, with liners differing on their expectations for future developments. The 5% drop in bunker fuel ra...