coprophagous

Four Shippers Emerging from the Mire

The only charts you can rely on in shiiping are the navigation ones and these analyst graphics ignore all the fundamentals that those active in shipping have been seeing for months. Todays spot rates in dry bulk are a cash drain on all companies in the sector as they barely cover operating costs, do not pay interest or G&A. Furthermore the number of days the ships are employed has also shrunk sharply.
The newbuilding deliveries in this sector as verified by all the major shipbrokers will amount to 3,000 newships over the next 18 months.
To suggest that this sector has suffered so long and should therefore recover is rubbish. The last two shipping recessions in the eighties(dry bulk) lasted 10 years and the nineties(tankers) lasted 6 years.
It will take 10 years for the freight markets to absorb the present fleet and the newbuildings.