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MWM

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MWM

Re: None

Tuesday, 11/17/2009 9:15:19 AM

Tuesday, November 17, 2009 9:15:19 AM

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While Deutsche Bank remains cautious on the sector, it believes near-term fundamentals suggest higher day rates in the fourth quarter. Vessel dislocation from seasonal coal and grain trades added to positives for the sector as well as strength in imports into China. Capesize rates are up 45% since November 1, but the firm notes that dry bulk shipping stocks are only up 23% due to disbelief of a sustainable recovery. Deutsche believes day rate increases could continue through the first quarter of 2010 or beyond.

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