1) EXM makes simply enormous profits anywhere above 5,000, and they lock those rates in for many months at a time, so it really doesn't matter to EXM financials if BDI changes up or down a bit on a day-to-day basis.
Let me make it clear again, I am not short. Infact, never shorted any shipper. Also, I was a buyer in 37-46 range before earnings. I sold day before earnings at 49. I bought almosr from 39-42 range. Mostly prfitted, but 1-2% range. I left at 39 dure to manipulation.