The BDI is hovering in a reasonable stable way at the 1,000 mark (give or take 10 pct each way).
I do not see to much movement in the foreseeable future. As we all know the BDI is a reflection of the supply and demand for bulk ships. On the supply side....still looks flat. Sure scrapping are up but the NB program is strong and will continue to be so for a few years yet. This over supply is more than soaking up the extra movement from our growth economies being China, India and South America.
There is lots of demand just not enuf to placate the hungry shipowners. I see that local Chinese shipowners involved in the Chinese coastal trade are now looking for 'international' options as demand levels for raw materials from inside china is soft to say the least. So we could see a massive spike of 10,000-50,000 dwt ships flooding the market in the short medium terms which isn't great if handy / handmax is 'your gig'!
The Olympics is about to start and readers of the blog will know that this makes me excited. I prefer to concentrate on the events but 1 day out it seems more a tabloid festival rather than a sporting event.
Who's shagging who in the village?
Who is tweeting stupid comments?
WHo is on steroids?
Who is fat and not in shape?
Which royal is having an affair?
Have you seen the Spanish uniforms (have not laughed like that for a while)
In Short - its all happening!
|The elite Australian swimming team|
I for one just wanna watch some contests with elite sportspeople......and I hope my country does well!
And fwiw I think London will produce the goods. Great city.......I wish i was a participant!