Bulk Carriers

摘要

The first month of the year was extremely quiet in the S&P dry market. During 2007 the main driver of the record prices had been the high period earnings available but in January the indices - and hence the period market - experienced steep declines, which kept buyers to the sidelines. Allied to this is that the lending market has yet to recover from the tightening seen in 4q07 and hence liquidity in the market has been at least temporarily much reduced. The outlook is somewhat rosier and we expect buyers to return in force during the latter part of the first quarter, once the market reaches equilibrium.