www.TheSeaNation.gr

Darkness all around. Capers' iron ore cargoes Brazil/China hv been vanished for weeks. Aussie cargoes cannot absorb vessels oversupply. Capers Atlantic rounds are presently around at usd 5,500 daily, while for Panamaxes for same route there is total collapse, with owners happy to make today a fixture at around usd 2,500 daily, which doesnot make any sense at all, so many owners hv already given the cursed order ''Drop the Anchor''. Supply of newbuilding tonnage deliveries continues to increase creating absolutely a mess.

Technically, target of major support region of 900/1000 almost achieved. So, what next? Usually in markets when a target is achieved we expect an opposite reaction, at least a temporary one. But, as said many times, BDI has its own characteristics, sometimes quite different than all the other markets such as forex/indices/commodities etc.

So, lets concentrate on the momentum. So far indeed is ugly. But, the ROC52 indicator (that one above the main chart, ''initials: rate of change'' and the number of 52 represents the total weeks of a year, since the chart is a weekly one), is still above zero (0), although approaching it very dangerously, and as said last week is the last defence.

So far there is not even a minor point to show a reversal, except the fact that approaching the target as explained above. Its funny the fact that 3 weeks ago, a German banker was telling me that its impossible to approach level 1000, as everybody of fundamental analysts were saying that we are going to hv a tremendous good market this year. Well, Dieter my friend, (he is reading that post but the bank is not allowing him to hv a a page in social media such as FB), first of all, we are only in the first quarter of the year, so nobody knows what will happen the months to come, and pray level 900 to hold in any weekly closing, as all of us in shipping industry do the same. Owise waiting for your suggestions what other job we can do the years to come.

Stelios Lazaris, md Maritime Investments A.G. Zurich