Time to buy SBLK, now that debt restructured and BDI ticking up?
The Baltic Dry Index (BDI), a measure of costs to ship dry-bulk commodities such as grain, coal and iron ore, last week increased 0.3 percent, which was the first increase since November 28th. In 2012, the BDI posted its lowest average since 1986, according to the Baltic Exchange.
Rates for Capesize vessels, which ship iron ore and coal, have surged 2.2 percent to $4,973 a day. Iron ore shipments to China are expected to rise after recent reports have shown inventories of the commodity were at their lowest levels in two years.
You've got to be kidding.
You guys do remember last years little "rally over nothing".
Happened right about this time.
Amounted to nothing.
Then all dry bulk stocks resumed their journey to delisting notices.