baltic dry index continues to climb

An update on the Baltic Dry Index (BDI) - A leading indicator for economic growth and production.

The index provides "an assessment of the price of moving the major raw materials by sea. Taking in 26 shipping routes measured on a timecharter and voyage basis, the index covers Handymax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain.

The BDI continued its climb to 2262 points yesterday, March 9, from a low of 663 on December 5, 2008 - "the bottom". Between February 9 and yesterday it has improved by nigh on 20%. Yesterday's figure was the highest since October 10, 2008, when it was 2221, before it continued its plunge to the bottom.

Go here: http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND



An even better performance is by the BPI - the Baltic Panamax Index which charts an Index for the Panamax Class of Bulk Carriers. The relevance for MAK is that this ship Class is the largest that the Port of Darwin (East Arm Wharf)can currently accommodate.

Go here:
http://www.bloomberg.com/apps/cbuilder?ticker1=BPIY%3AIND

Between February 9 and yesterday it has improved by nigh on 69%, yes, 69%. Yesterday's figure was the highest since October 7, 2008, when it was 2311, before it also continued its plunge to the bottom.

The BDI and moreso the BPI are showing that world trade and world economic conditions are ON THE IMPROVE. Remember these are FORWARD INDICATORS, the lights at the end of a dark tunnel.

Continued improvements in these indices augur well for MAK.


Cheers to all.