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Hi. I am a shipping company director, transport academic, author, family man and all round nice guy. I have worked as shipbroker, shipowner, freight trader and bulk charterer, in senior positions, with some of the largest and most disrespected (joke) companies in the world. Ask my advice on all things shipping and you will receive my blunt and always honest answer. Hang around to learn more about chartering and ship broker salaries, chartering and ship broker jobs, chartering and shipbroker recruitment agencies, cheap freight, maritime education, chartering and ship broker qualifications, become a ship broker, tips on how to be a successful bulk shipping executive, philosophy, Zen and the art of shipbroking, and much more. Yours The Virtual Shipbroker (recently proclaimed the guru of shipbroking) Copyright © 2009-17 by Virtualshipbroker

Thursday, March 5, 2009

Baltic Dry Index - BDI - Up 83 points

A nice jump overnight led again by the Panamax's. Capes also up for the first time in a while. The grain houses active taking tonnage to secure freight for this seasons harvest.

Yours VS

2 comments:

  1. I'd be interested in your take on the major shipping companies like DRYS, NM, EGLE, ESEA, EXM, TBSI, DSX, etc.

    If you made it through War and Peace, and if you are into Zen Buddhism, you should probably read The Brothers Karamazov.

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  2. Hi Tilo

    I havent tackled Dostoyevsky as yet. Im a huge Tom Robbins fan though as you are I believe..(Half asleep in frog Pajamas main man is one of my personal heroes). Love still life with woodpecker. Also Big J heller fan (brings back memories)...anyway I digress...

    I wont say anything in particluar about any of the shipping companies you have mentioned except tp say that shipowners are in for lots of surprises over the next few months. Cashflow for them but also for their customers is a huge problem. Counterparty risk is real in shipping as not every trading partner is first class.

    So expect the unexpected, dont bet the house and expect volatility. The best shipping owners are the ones who dont have to rely on forward business to balance the books. (because the forward books may not be worth the paper they are printed on)

    IMO its all about the balance sheet. Not so much about the prices because ship valuations will come down. Without stating the obvious the less debt they have the better of they will be.

    Yours
    VS

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