of our current problem,,,we r converting into dry bulk at the time that that sector is facing this
"Chinese shipping stocks headed south after The Baltic Exchange Dry index .BADI plummeted 8.7 percent overnight, marking its biggest one-day slide ever in what analysts called the start of a summer correction"
Cantor Fitzgerald analyst Natasha Boyden said in an interview the significant drop was the result of Chinese iron ore importers working through their stock piles of the commodity instead of bringing more into the country. With the huge demand for iron ore, steel and other commodities carried by drybulk ships soaring, Boyden said Chinese importers turned to their own supplies as ports clogged and drybulk rates skyrocketed.
But Fitzgerald noted that the Chinese only have about three to four weeks worth of iron ore stockpiled. After its resources are used up, Boyden said drybulk ships will again be in high demand to deliver goods to the country.