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Dry Bulk Rates Are Soaring

|Includes: DryShips Inc. (DRYS), DSX, EGLE, GNK, NM, NMM, SALT, SB, SBLK

Summary

The BDI has recently set a new YTD high, 1774, the strongest level in nearly 5-years!

Rates are being led by Capesize bulkers, with recent spot rates sitting $26,367/day. Up over 200% y/y!

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Dry Bulk is Soaring!

Spot rates are roaring to new highs even as concerns about 'trade wars' intensify. I've recently taken profits and hedged several positions due to concerns here, but dry bulk is doing much better.

Chinese tariffs against soybeans? This might open up new triangulation trades between the US, South America, and China, arguably boosting demand for these vessels.

Furthermore, China is responding by instilling a major domestic stimulus plan which includes heavy infrastructure spending - benefiting the coking coal and iron ore trades. Adding gasoline to an already lit fire!

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Dry Bulk Firms

Some of the companies in the dry bulk sector include: Scorpio Bulkers (SALT), Diana Shipping (DSX), Star Bulk Carriers (SBLK), Dry Ships (DRYS), Eagle Bulk (EGLE), Genco Shipping (GNK), Safe Bulkers (SB), Navios Maritime Partners (NMM), Navios Maritime Holdings (NM), and Seanergy Maritime (NASDAQ:SHIP).

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