My dry bulk shipping picks and the ETF that tracks the Dry bulk indices (BDRY) all took a nasty hit today (3/14/22). Very odd given the behavior of the actual vessels.
Panamaxes above $30K daily
Ultra/Supramax above $30K daily too
Small Handysize $20K - $80K daily
Charters spread across the globe
https://www.hellenicshippingnews.com/dry-bulk-market-capesiz…
Might shipping prices be falling from fear of disruption of trade by enlarging war in Ukraine and fears of war in China sea etc as world systems seem to be breaking down?
david fb
Maybe.
But if fears of disruption of trade were that high, I don’t think it would single out one type of shipping in particular. Public tanker companies took hits of 1-6% and that’s without positive upside news. Container shipping - some positive, some negative.
Miners are down big-time too. The US dollar index is approaching 100.
Jeff
My dry bulk shipping picks and the ETF that tracks the Dry bulk indices (BDRY) all took a nasty hit today (3/14/22). Very odd given the behavior of the actual vessels.
It could be just people piling in and out of a trade. A lot more people have heard of the Baltic Dry Index (whatever that is) than some of the companies you post about, so they look at BDRY and companies involved in “dry bulk”.
DB2
It could be just people piling in and out of a trade. A lot more people have heard of the Baltic Dry Index (whatever that is) than some of the companies you post about, so they look at BDRY and companies involved in “dry bulk”.
DB2
Well, the sell-off seems broad. It includes dry bulk shippers I don’t own - Eagle (EGLE), Seanergy (SHIP), Genko (GNK), Diana (DSX), etc.
FWIW, BDRY is relatively small, less than $100M market cap