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Dry bulk: from buy to hold

Dry bulk owners need to hold out through to Chinese New Year

If bulk carrier freight markets were a tradeable equity (as indeed they are these days via ETFs) then October could be the month we look back on as being when we switched our collective strategy from Buy to Hold. The BDI began the month at 5,202 points and peaked at 5,650 points on October 7. By October 21, the BDI had retreated to 4,653, down 997 points or 18%. That puts the BDI firmly in what equity analysts would call correction territory.

The capesizes, those doyens of the dilettante inv...

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