Dry Bulk Market Offers Reasons for Continued Optimism

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The rally in the dry bulk market during most of the third quarter has offered owners of dry bulk carriers, many reasons to be optimistic about the long term sustainability of a new period of growth for the segment. In its latest weekly report, shipbroker Allied Shipbroking said that “a mere breath away from the start of Q4 and most (if not say all) parties involved in the dry bulk market couldn’t be anything less than happy with the current prevailing market conditions. With the BDI having reached new high levels (10-year high) at 4,275 basis points, while in the bigger size segment, TCA figures are once again above the US$ 50,000/day mark, a typical firm final quarter seems to now be the most plausible scenario”. Source: Allied Shipbroking According to Allied’s Research Analyst, Mr. Thomas Chasapis, “in earlier market views, we mentioned that given the current freight levels in the dry bulk sector, 2010 seems to be a rather good fit as a base year, given its many
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