Friday, October 26, 2012

[Marine] BDI recover 1,000 mark

 BDI recover 1,000 mark

BDI having set a new highest record over the past three months, market players hope that bulker segment will be recovered. But so far there is no saying whether the recent uptrend will continue or not.

BDI recorded 1010 on October 19 and reached again beyond 1,000 level since July 24 of this year. And on October 22, it further rose to 1037, compared with a low of 661 set on September 12.

Particularly, Baltic Capesize Index rose by over 50% in a month, with a record of 2332 on October 22.

Due to expanded dry cargo volume by seasonal effect, such as grain harvest wrapping up in the US and Central and South America and increased China's iron-ore import facing peak winter season, bulker market has taken a favorable turn.

However, as demand for iron ore in China is expected to decrease before long and over-capacity goes on, bulker market seems hardly to recover steadily in a short term.

Published : October 24, 2012

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