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|Subject: BDI goes nuts||Date: 9/7/2013 4:02 AM|
|Author: Hohum777||Number: 433329 of 465050|
About a week ago, I mentioned that the Baltic Dry Index (BDI) had been going up the last few weeks.
More of the same this week, except it really went nuts this week. Up another 19% this week, to 1352.
The BDI was at 1007 on Aug 13, 2013.
In most other years, this isn't a particularly busy time for dry bulk shipping. The pick-up
in activity usually occurs a little later. The link above suggests Iron Ore shipments to China.
Earlier this week, shipping entity Navios Maritime Partners (NMM) announced a three year
charter for a Cape vessel @ $19K daily. Not that I've been tracking rates that closely, but
I do know the Cape vessel market has not seen that type of rate and charter length in a while.
Still, quite an impressive bounce in the BDI index this week
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