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BDI Starts the Year on the Right Foot

|Includes: DryShips Inc. (DRYS), EGLE, EXM, NM

The Baltic Exchange's Baltic Dry Index (BDI) has risen 9% from its year end 2009 level--ending a strong selloff leading up to the holidays.  China continues to hold a disproportional influence over shipping rates, and a recent run-up in Chinese steel and iron ore prices should help support shipping rates over the near-term. But, lets not forget, over the past year BDI performance has been akin to a toddler learning how to walk, with sudden short runs, followed by hard falls.  This volatility should continue, but begin to diminish as the market continues to find its legs.

For a much more detailed analysis and outlook please see my shipping column published every Tuesday on RealMoney at the

Baltic Exchange Indices:

Source: Bloomberg & Capital Link

Disclosure: N/a