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  • antonio_479 antonio_479 Nov 19, 2008 3:28 PM Flag

    Bulk shipping rates seen to go up next year

    Here is one positve article during this crazy day.

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    • Thanks for the article. Im buying more. Now! At 6.70. I cant get even unless I average down

    • written by a ceo in the business

    • YES! And housing prices will be up 20% net year too!!!! lol.

      Written by an insider with a vested interest in seeing these stocks rise......Not at all objective.

    • Very good article,antonio_479 !
      audiophule should read it he might learn something.

      These points are what i have been saying all along that China will grow and the growth will be huge.

      "China Cosco Holdings Co., the world's largest operator of dry-bulk ships, expects rates to jump from near six-year lows, helped by U.S. interest rates cuts and infrastructure spending in China.
      "The decline came fast and will be gone quickly," Chairman Wei Jiafu said at a shipping conference in Dalian, China. "The unusual drop was because of investors' panic amid the global financial tsunami."

      ....Rates may rise next year, driven by growth in China which has avoided the worst of the global slowdown, Wei said.

      "The impact is limited in China," he added. "With a population of 1.3 billion, demand is still strong."

      Next year, it (BDI) may return to around 3,000, helped by delays in the deliveries of new vessels and DEMAND FOR IRON ORE, COAL (did you read this audiophule...done LIE any more) and grains in China, India, the Middle East and Africa, said Gao Hongsen, Sinotrans Group's vice director of research.

      "The worst has passed already," he said. Demand will grow more quickly in 2010 through 2012 than next year, he added. Sinotrans Group is the parent of Hong Kong-listed Sinotrans Shipping Ltd.

      ...Governments may also increase spending on infrastructure projects, which would help bulk-shipping lines by reviving demand for steel and iron ore, said Philip Embiricos, president of The Baltic & International Maritime Council, a shipping group, with some 2,600 members, including shipowners.

      "It depends on what governments do," he said. "See what happened in the U.S. in 1930s. They had a depression and the government started doing all sorts of public works."

      China is also planning to spend 5 trillion yuan (US$732 billion) over the next three to five years on roads, ports and other transport projects, China Business News said on Nov. 5."