The BDI has been ripping higher, along with virtually all shipping rates, especially for Capesize’s
Top ranked shippers, by technicals, are OSGIQ, STNG, TK, NM, SB and VLCCF.
Naturally, this is great news for the industry. My favorite leveraged play on the industry is FRO.
If you enjoy the content at iBankCoin, please follow us on Twitter
I gather you’re using the BDI as a proxy for petroleum product shipping rates? Of the shippers listed only NM and SB would appear to be directly connected to the BDI — the others ship petroleum products (or crude) though VLCCF does have four dry bulk vessels in their fleet. (OSGIQ lists many Handymax-class vessels on their fleet list but these carry petroleum products which may or may not be dry goods).
I know–but rates are up across the board. Just pointing out the most recognizable index in shipping.
Okay, just bought a little FRO. Hopefully it works out this time.
Now is not a good time to start positions.
Markets look really weak
just a cautionary lightening up and hedging before the Ben Bernanke comes in, then that cash goes back in and the hedges come off and we rally.
Well, Shit
Following le Fly into the BDI with CMRE
I added to FRO here. You have to buy a ticket to take the ride.