An extraordinary set of external circumstances – floods, cyclones and swine flu – have combined with weak trading fundamentals to send the dry bulk market into a dramatic tailspin, down 293 points in the last week alone, pushing the Baltic Dry Index towards record low territory.
While January tends to be weak for the sector, the current conditions are seen by many owners and analysts contacted today by our new title, Splash Extra, as much more than a seasonal drop.
The perfect storm that has conspired to smash any immediate hope for a dry bulk recovery makes the cover story for the inaugural issue of Splash Extra, our new monthly subscription title.
Splash readers keen to get a trial copy can do so simply by signing up to our free newsletter, Daily Splash, here.
Also inside the 13-page issue are analysis of the tanker and container sectors, a unique set of graphs and charts from leading brokers and analysts and a roundup of S&P trends this month.
New York correspondent Greg Miller has had a busy January. For the first issue of Splash Extra, he sat down with Robert Bugbee for an exclusive interview in which the Scorpio president discussed slowing scrubbers, tighter leasing and muted orders. Greg’s column on the back page, meanwhile, explains why shipping stocks on Wall Street are faced with a tricky year ahead.
This issue’s main feature takes an in-depth look at the belated strides hydrogen is making to become shipping’s real alternative fuel.
Commenting on the launch issue, editorial director Sam Chambers said, “Contained in these 13 pages is something for everyone in shipping. Keen readers of Splash Extra will be able to be brought right up to speed with the most pressing issues facing our industry. We have been blown away with the level of subscriptions flooding in since we first announced the title a week ago.”
Splash Extra is supported by Chevron, DNV GL, RightShip and Wilhelmsen. Subscriptions cost as little as $100 a year. To subscribe or for more information, click here.
To read the inaugural issue of Splash Extra click here.