Sell-off today has NOTHING to do with the market makers. If that were true, why is every other shipping stock selling off?
The reality is that the BDI continues to tank and the market (overall) is obviously weak today. Take a look at most every commodity stock...also down.
What can you take from these "signs"? The demand for commodities and the ships that carry them is slowing. Note I did not say, gone..but slowing. And if demand declines, so too will bulk ship rates. It's simple economics.