Sunday, March 3, 2013

Dry Bulk bottom?

Quite often a chart just looks good when I glance at it. The chart of EGLE has that look. Granted it could go up OR down.

So a little research on the dry bulk market that has been in a serious funk since 2008.

There are lots of reasons for this market to continue it's sideways journey or to decline, but a few things caught my eye.

One was the recent losses posted by Vale and one of the reasons was the high shipping costs for iron ore. ??  Really?

A look at some charts....

Sorry about that. Now you know what the wallpaper on my second screen looks like!

And the article from Bloomberg Businessweek on VALE that mentions the high costs of dry shipping..
They ARE building more ships.... Their high cost was due to using the larger carriers. 
It used to be the Greeks that were good at building ships when prices were down.

And some EGLE charts...

This stock may get exciting IF it starts to go up. The whole dry bulk may get going sometime...
WHEN is the big question.


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