Shopping volumes. I like that. [Damned spellchecker ] This is the third ship lately that has come from Indonesia or the Philippines. Could just be coincidental but it is starting to look like there are more ships around than last year and they are waiting around between charters. Shipping tends to be 'boom or bust' and rates swing wildly up or down in response to demand changes. Last year they were all discharging in China and then heading down from there. With iron ore, the shipper pays for the shipping so it is to MGX's advantage when there are lots of bulk carriers waiting for charters and rates fall. I'm not so Idle at the moment so I'll have to leave it to someone else to figure out what the rate trend is for Panamax bulkers between WA and Asia.
MGX Price at posting:
67.3¢ Sentiment: None Disclosure: Held
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