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DryShips, Inc. Message Board

  • yabadabadoo360 yabadabadoo360 Dec 5, 2013 8:56 AM Flag

    12/5/13 Huge jump in shipping rates: BDI +151 (over 2100 now); Cape +4576; Pana +574; Supra +90

    The four day average shipping rates are now Capesize $33,475/day, Panamax $14,912/day, Supramax $16,007/day. This is the largest daily increase I have ever seen in the BDI or in Capesize, and up there for the other two. If I remember correctly, the BDI is now higher than it got back during the October rise. Daily spot rates are now at levels that are in the black for shippers, in other words, in profitable territory again. This all bodes extremely well for DRYS today and going forward.

    Though it could take a few days still, it is possible, with a little strength in the broader market today, that DRYS could even get to $4 today. It is likely to easily blow thru the $3.50 level. If shipping rates continue to rise, the $4 level will be breached soon, regardless, and DRYS will be headed towards the $6-$8 range. GLTA

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