First up day here in a very long time.

http://www.dryships.....cfm?get=report

good news but from some awefuly low levels

Do you know that the Shipping market is dead and is going to get even worst? Lots of defaults are coming up......small shipping companies that got greedy due to the prosperous, or may I say crazy shipping market we had...... By the way, the company's owner you just mentioned, was the first to default on a shipping high yield bond back in 1999. Markets of course always forget these things

Inventories. That is all I think about when I see this number. IF stuff isn't being shipped it is being warehoused, somewhere.

Probably. But then again it all goes down to the shipowner; Do they operate their vessels or they find it uneconomical and they lay them up , or even sell them? (i.e. are they committed shipowners or asset players?) The reason I say that lots of newly incorporated or companies that were greedy will go bust; $6000/day that occurs in some markets doesn t even cover the operating cost of a vessel, let alone if there is also a loan on it.

Edited by nicolasillo, 05 November 2008 - 05:30 PM.