iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,428 Blog Posts

Capes Crushed Again

Oh come on already. Day rates for capsizes just fell by another 10%, to levels that I never thought I’d see again. These seamen out there, moving stuff around, heading towards China, hemorrhaging money now.

Capes

 

Most of these companies are losing $10,000 per day now and BALT is in an especially tenuous spot, being 100% tethered to spot–having just doubled its fleet. Ouch.

This is all about iron ore, demand emanating from China.

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13 comments

  1. JakeGint

    Hey don’t worry none, bro. Dear Leader just raised the minimum wage by 40%, Kim Jung Il-style.

    Maybe he’s trying to get Rodman to hang out w. him?

    _____________

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    • The Fly

      Maybe a few lazy folks will get off the public dole now. Any data suggesting that higher minimum wage translates into less welfare?

      Curious

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      • jules

        Lazy commies. Funny I was listening to Canada’s radio station today and they just raised medium wage to $11. They went on to talk about how hard it is to live downtown Toronto and make $11 because a TTC (another communist organization) pass costs about half your monthly salary. Now if they didn’t have to pay union bus drivers $30 an hour would we have this issue?

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    • TheHarper

      I’d rather the minumum wage for gov’t employees be raised by 40%, then waste billions and billions killing Arabs in Iraq.

      Wasnt Saddam supposed to boys with Osama?

      No, it was the WMDs that were supposedly there

      Sorry, it was all about the Furher’s fetish of democratizing the middle east …yeah, thanks for putting Hamas in power in the Gaza Strip. My cousins in Ashdod just love that!

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    • sspiff

      Mr Gint, I will have to report you as a regressive anti-revolutionary to the people’s committee for progressive thinking. Off to the reeducation camps! The new order will not tolerate such subversive thinking.

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  2. ellenjsims

    My Uncle Daniel just got Chevrolet Traverse SUV just by some part-time working online with a cheap laptop… why not look here

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    • tradercaddy

      That’s nothing.
      My Uncle Leo just got an orange Ford Fiesta by playing the guitar at the subway station on 34th St.
      Ask me how.

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