Baltic Dry Index closed at 2225 on Friday. Source: The Baltic Exchange

THE Baltic Dry Index has now reached 2,225 points, recovering from a low of 663 on Dec 5.

That sharp recovery in the
freight rate indicator for the marine transport business, particularly in dry-bulk shipping,
does spell relief for dry bulk companies.

They, nevertheless, continue to face severe issues. With a major
orderbook being unleashed onto the market, there will be an overwhelming overcapacity and unprofitability that could even threaten the banks that financed the newbuilding.
ore than 3,000 bulk carriers are on order at 155 different yards in 15 countries by 479 known owners. All are scheduled for delivery by 2011. 

You may also be interested in:

You have no rights to post comments

Counter NameLastChange
AEM Holdings2.350-0.030
Best World2.480-
Boustead Singapore0.9500.005
Broadway Ind0.129-0.004
China Aviation Oil (S)0.905-0.010
China Sunsine0.4100.010
Delfi Limited0.900-0.010
Food Empire1.320-
Fortress Minerals0.3150.005
Geo Energy Res0.315-0.005
Hong Leong Finance2.480-
Hongkong Land (USD)2.820-0.050
ISDN Holdings0.3050.010
IX Biopharma0.0480.005
KSH Holdings0.250-
Leader Env0.048-
Ley Choon0.0430.001
Marco Polo Marine0.0710.003
Mermaid Maritime0.142-0.001
Nordic Group0.3250.010
Oxley Holdings0.088-
REX International0.137-0.005
Southern Alliance Mining0.450-0.025
Straco Corp.0.485-
Sunpower Group0.210-
The Trendlines0.069-0.005
Totm Technologies0.0230.002
Uni-Asia Group0.8200.010
Wilmar Intl3.370-0.010
Yangzijiang Shipbldg1.780-0.030

We have 408 guests and no members online

rss_2 NextInsight - Latest News