Navios Maritime Holdings Inc. (NM)

[slimpickens]

I agree there is a cyclical nature to the DBI. However, I think the recent plunge scared the crap out of less confident/capable overinvested/overborrowed shippers which I think is likely a majority out there. I doubt you'll ever see the kind of new build investment we've had over the last few years ever again. The stategies going forward for most of these higher cost shippers will be to stay in business and that means consolidation not finance new builds. Many shippers were likely looking at bankruptcy over the last 6-8 months and must feel like they've been given a second chance.