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Commentary

Dry Bulk Index Drops 43% In A Month

Bespoke Investment Group has an interesting chart on the Baltic Dry Index (BDI).

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According to FT, the drop is due to an anticipated increase in the number of available ships through fresh deliveries.

The fall has brought average Capesize charter rates down from $32,889 on December 12 to $13,386 on Wednesday, below many owners’ total operating and financing costs.

Apart from that, iron ore shipments have fallen after a Brazilian company stopped shipping ore due to heavy rainfall, and Australia had trouble with loadings after a tropical cyclone.

Do any of the Indian shipowners – Varun Shipping, Essar Shipping and SCI – own dry ships? Will be interesting to find out.

  • debt_manic says:

    Hi Deepak,
    U had said that u will compile and post list of listed bonds. can u please do that?
    Do u know any source from where I can easily get this list as normally its difficult from search box?
    What about Britannia debt trading at 175 with 198(=170+14+14) as a payment on maturity 13March 2011 i.e. earn 13% on 175 in 14 months.
    Another one is Tata coeffe with 53.5-48.5=5 i.e. Rs.5 return on Rs.48.5 in 11 months
    Regards
    Sameer

  • debt_manic says:

    Hi Deepak,
    I believe those returns (assuming more than one year) are tax free.
    I mean I don’t have to pay any tax on Rs.23 that I gain after 14 months??
    AM I CORRECT??
    Regards
    Sameer