www.TheSeaNation.gr

Weekly closing 2046. Wednesday was an amazing day for capesizes. Major chrrs were begging to fix vessels. Suddenly last two days Chinese iron ore buyers gave no signs of life. Abs silence, and as a result capesize Index dropped considerably. BDI on wednesday stopped a bit lower than the good resistance of around 2200 and keep in mind that the GAP of 1365 sometime has to be filled.

However momentum remains strong, with Panamaxes and Supramaxes rise to remain quite healthy. Handysizes are in the usual stable condition. Low commodity prices are the main reason for recent rally, although demand/supply of vessels worsen. Its quite important to mention that Tankers are not following the drymarket rally and remain in depressed figures. Would strongly recommend to my colleagues to avoid fixing vessels with the ''usual known operators'', who behaving like sharks, when they see market rise, asking vessels for tc period at very attractive levels. Also be extremely careful on BS/L clause. If demand for vessels continue, its def sure that commodity prices will rise too, and traders will again exchange BS/L like shirts.

Stelios Lazaris, md Maritime Investments A.G. Zurich