You see the daily machinations of the BDI (Baltic Dry Index) was once seen as an almost mystical insight into the future health of the economic universe. A rising BDI meant countries were trading more - and this logically meant growth.
Alas the BDI celebrity bubble burst when this canary of the sea's became more about supply side ridiculousness than the health and wealth of nations.
China exploded and the shipping industry went NUTS! Collectively Bezerk! We spent, ordered, wined and dined like there was no tomorrow. And gee it was good! So good I semi retired.....but that's a whole new story...
What's interesting is that after the shipping equivalent of the great depression (the normal result of going Bezerk for too long)......i'm sensing more than just wishful thinking amongst the throng of well dressed and slightly older shipping frat shops.
Shipbrokers are expanding, dry bulk IPO's are back on the agenda, Shipowners are starting to order ships again and chartering exec's are renewing our love affair with business class lounges and fully reclinable seats ......Thank god for that! Can this really be true?
Save for the recent drop in Iron Prices, and the usual banter about Chinese house price - I could be excused for doing a cartwheel or two (which btw is easier in the high altitude mountains of Bhutan).
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| I'm finding it hard to find a good dentist...but I can't stop smiling |
Lets not get ahead of ourselves but my crystal ball is looking clearer all the time.
If you aint in 'the game' yet.....maybe it's time to make a move!
Yours The Virtual Shipbroker
Welcome back VS!
ReplyDeleteThis definitely is the time to get in the game and you should hurry as well! In Fairplay's issue of March 6 Robert Bugbee warns " I am confident that the shipping markets are going to be fairly strong for the next two to three years. Then, after that, I'm as confident as can I can be there's going to be hell to pay"
And with regards to crystal balls, be carefull there, you might end up eating glass...
Fairwinds and looking forward to all the new posts!
I am very glad to have you back posting VS! I thought this blog had gone the way of the dodo bird...
ReplyDeleteVS, what's your opinion about learning chinese to improve the performance of a shipbroker? Do you think it's a good idea to invest time and money?
ReplyDeleteRegards
Hi all - thanks for nice comments.
ReplyDeleteA trips - Is Chinese a great language to learn for a shipping advantage? You betchya!
JP - I find it difficult enough to look forward 12 months let alone 3 years, but yes there could very well be hell to pay. Then again the heavens may be more welcoming. Like most things in life 'be prepared' for all possible eventualities..
Keep rocking.