Wednesday, February 4, 2009

BDI is up, but for how long?

The BDI (Baltic Dry Index) closed over 1300 on Feb. 4, 2009. This is certainly up from a low in the 800's just a month ago or so.

However, this may be short lived.

Norwegian broker Lorentzen & Stemoco said yesterday that an estimated 100 capesize vessels from the global fleet of 821 were at anchor, propping up chartering rates on the spot market.


If the owners are smart they will keep those ships laid up so they can make some money.

But then, shipowners are not always smart.

We shall have to wait and see.

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