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Thursday, July 8, 2010

The markets have tanked!

Yes the markets have dropped for 30 consecutive days. Check out the bdi index Here

The extended supply of new ships is starting to make a difference, China's steel industry is in go slow and maintenenace mode and the overall mood is a tad gloomy.

The good news is that we are still nowhere near the lows from 2 years ago and in truth the market now has renewed optimism that any drop no longer means catastrophe. Righty or wrongly scribes are still predicting a rebound in the 3rd and 4th Quarters.

I blame the workd cup. Too much watching not enough doing PEOPLE!

I also blame the great China Currency debate.

I blame to builders of ships. You guys are the only ones who should be sitting on your hands watching the football.

Finally I also blame George Bush - because, well.......... I just like blaming George Bush.

So keep your heads up. Im prediciting that by 2020 the markets will be double what they are now.

I also predicted that in 2010 an African Nation will win the world cup so take from that what you will.



  1. ...the world is supposed to come to an end in 2012 (no doubt Bushes fault again), so I wouldn't worry about 2020 too much :P

  2. I believe reduced congestion, particularly in Australia, earlier this month has also played a part.

    "Newcastle's coal congestion in June had up to 61 ships waiting in queue.

    The average waiting time for Newcastle's coal port, however, has improved. During the week of July 12, there were an average of 12 vessels waiting to load."

    Data I've seen indicates Cape congestion down in the space of a week by 6Mdwt, consistent with the absurd reduction in Newcastle queues. That's equivalent to about 3 months worth of Cape deliveries in one swoop.