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.
- The Virtual Shipbroker
- 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