Will dry-bulk shipping freight rates peak in 2008?

Posted: 2007-11-13 00:00:00+05:30 IST
Updated: Nov 13, 2007 at 0140 hrs IST

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commodities in bulk may be sustained until 2008 because of the limited supply of new vessels in the near term, port congestion and increase in average voyage distances, DBS Vickers Securities said in a November 9 report on Pacific Basin Shipping Ltd., a Hong Kong-based operator of dry- bulk ships. ‘’We expect the peak of dry bulk rates should happen in the first-quarter 2008 due to the pre-stocking of iron ores before the possible higher contract ore prices effective from April 2008,’’ Gideon Lo, an analyst at DBS Vickers, wrote in the report. He recommended that investors buy Pacific Basin stock.

—Bloomberg...

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Will dry-bulk shipping freight rates peak in 2008?

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