Baltic Dry Index is up more than 200% year to date. We are now seeing China (FXI, quote) restocking its coal and steel after 6 to 9 months of de-stocking.
The bulk carrier ‘Tupungato’ undergoing repairs and re-painting at a shipyard
This means – you have legs on this trade which at one point only looked like a “trade”.
In other words, ore, steel, and shipper stocks were so beaten up not a surprise to see bounce.
But this is more than dead cat.
I like large cape size shippers here but watch the balance sheets.
Bigger is better…
