Replies to post #558185 on $Stock*Shop*Charts*News*Option$

[sludgehound]

Dry Bulk Idex ya & $0 charter!

Some had headlines like below, small write up:

Dry Bulk Shipping Hits All Time Low
by Belisarius • February 6, 2012

http://wallstreetexaminer.com/2012/02/dry-bulk-shipping-hits-all-time-low/
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http://shipbrokernews.blogspot.com/2015/02/baltic-dry-index-bdi-dipping-worst-in.html

Baltic Dry Index (BDI) dipping worst in history 564 points

Baltic Dry Index (BDI) fell today to a level that was within 10 points of a record low for the benchmark bulker market indicator. Baltic Dry Index (BDI) dipped by five points to reach 564, the lowest level since its predecessor Baltic Freight Index (BFI) hit 558 on August 11, 1986.
Baltic Freight Index (BFI) was created in 1985. All of those days where in the dismal market of July and August 1986, including the all-time low of 554 on 6 August of that year.
Simply put, too many vessels have been ordered the past few years and it has certainly caught up with the market, and that’s just the nature of dry-bulk shipping.
Further decline in the Baltic Dry Index (BDI) is possible.
This week’s descent of the index below 600 followed last week’s re-emergence of the $0 charter, as the 83,000-dwt kamsarmax bulker MV Star Angelina (built 2006) took a positioning trip gratis for the first 60 days of the journey, with a $2,000 daily rate after.

Wells Fargo Securities analyst Michael Webber said: "a shift in Chinese iron ore imports have helped dampen bulker rates. Australia has become a bigger incremental supplier of iron ore with a modest degree of prying market share away from Brazil. While primarily impacting capesize tonnage, the effects have been felt across all dry bulk segments, given the disproportionate size of the capesize fleet ... oversupplying trade lanes.Accelerating fleet growth this year means supply-side pressure will continue amid modest demand, keeping dry-bulk rates in check this year"