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Probably not great news for global trade, the Baltic Dry Index plunges 8.2% to 826 this morning,...

Probably not great news for global trade, the Baltic Dry Index plunges 8.2% to 826 this morning, the biggest drop since 2008. Shippers already struggling to hang on include: EGLE, ESEA, DAC, DHT, TNP.
Comments (7)
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    a bunch of idiots managed to overbuild ships into industry bankruptcy. New ships continue to roll off the assembly line even in 2013. it will be a learning experience watching this disaster unfold.
    nearly every shipping mgt should be sent packing to the unemployment line.
    12 Dec 2012, 09:11 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    Interestingly this could suggest that inflation will be tamed by excess capacity.
    12 Dec 2012, 09:14 AM Reply Like
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    i do not think that what it suggests. what is quite apparent the shipping industry is run by a bunch of speculating capital incinerators. they should all be wiped out and replaced with leaders that have more discipline than an infant and smaller egos. It will be interesting to see how far ship prices fall and how much scrapping picks up with relatively newer ships 15 years or so.
    12 Dec 2012, 09:20 AM Reply Like
  • Michael Demaray, CFA
    , contributor
    Comments (65) | Send Message
     
    DAC is not affected by the Baltic Dry Index. It is a container ship owner that operates on long-term, fixed-rate contracts...
    12 Dec 2012, 09:31 AM Reply Like
  • sarema
    , contributor
    Comment (1) | Send Message
     
    I think the bigger idiots are the Shipping Industry's lenders, if Banks are involved, Then behold, there is second round of Bank disaster in the pipeline
    12 Dec 2012, 09:32 AM Reply Like
  • The_Hammer
    , contributor
    Comments (3806) | Send Message
     
    Mgt represents shareholders? Mgt should have enough discipline to avoid going on massive building spree. Spoke with one these smart @$$es 3 years ago my concerns went in one ear out the other.
    12 Dec 2012, 09:36 AM Reply Like
  • Sairsint
    , contributor
    Comments (62) | Send Message
     
    DHT does not ship dry goods not sure why its linked? Although there are issues in the market with OSG, excess ships etc...
    12 Dec 2012, 10:21 AM Reply Like
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