Dry bulk sector pessimism or reversal
- Author:Ricky
- Release Date:2015-01-14
The more say in the industry, dry bulkWhen the market pessimism has reached the ultimate, Capesize bulk carrier freight January 12 finally achieve reversal. Arctic Securities (ArcticSecurities) analyst ErikNikolaiStavseth revealed recently traded at a one-year lease, the relevant Capesize received only slightly more than $ 10,000 daily rent / day, which already belongs to the lowest level in history, he said, "The current market price is at depressed levels in 2012, and some even lower - the year in August, daily rent 1-year lease has bottomed out to $ 10,200 in addition, over the past 20 years, only in 2001 November 1999 and most of the time to see the stock market downturn, "" Therefore, we believe pessimism Capesize sector is nearing perfection, the downside is very limited. " According to Clarkson data, due to the reduction in Brazil and Western Australia's chartering activity, leading to last week (January 5 to 9) of the Capesize freightIs significantly down 22%. "Tradewinds" last Friday (January 9) has reported, brokers said the current South African waters have 15 Capesize vessels idle, Singapore and China each have 20. Stavseth said on Friday BDI has dropped 709 points, its lowest level in history, "than the previous lowest point - 1987 727 points lower, which means that, to the extreme pessimism has been reversed and the trigger . "