Yep the Dry bulk market in a state of flux. I think it will be trading flat for sometime. The good news is that with current conditions we are seeing a contraction in supply - many overage ships being scrapped, new buildings being cancelled etc etc. So eventually we will see a change.
Big issues in shipping are letters of credit between international banks and what will happen with demand in China (no news there i guess). The other big issue is the enormous amount of debt banks have tied up in ships. Asset prices have fallen so quickly that this is a major problem. If anyone has shares in intl funds that hold alot of Euro banks with shipping exposure then beware..Im sure there is a list somewhere of who is exposed more than others. Norwegian, Danish, UK, Swiss, German banks come to mind..
