, The $BDI
hit an all time high over 11700 points in May 2008. The global recession drove the index to as low as 663 points on Dec 5, 2008. The $BDI is now at 2501 and is right above support and could be a short term Bottom. China's demand for Iron, Coal, Dry bulk ore should pick up as the new rates come in as July, based on the new quarterly system for pricing. A rise in the $BDI should also correlate with a market rally. Listen to SHIP interview, great insight and I think the best in breed out of the Dry bulk shipper's
Click Link to Listen
Dale Ploughman, CEO of Seanergy Maritime Holdings, on Bloomberg Radio's "Taking Stock"
June 22, 2010 - (Bloomberg)