that's fine .... they may have good reason, but suggest you take a look at a chart for Baltic Rates, though not sure where to find that

www.investmenttools.com should do the trick for you .... certainly there has been a sudden very sharp bounce, but i perceive no reason for it

http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Baltic chart

i have some pix to scare you of idle vessels in S'pore which i'll try to work out howto post on here.
Also, please note that Senator Liners are shutting down ..... this is an important carrier, and i'm sure they will have a sight on the web

=======

i have pix sent to me on e-mail .... but you'll have to wait until i get to the office by the looks of it

From what I remember when the commods boom was running full tilt post credit crunch, people were scrambling to build ships but could not get the finance to do so. The market really went into a spin when operators leasing ships were hiring them out below cost(current/ recent situation) just to get some cash in before pesumably going bust!

i think Senator is the first high profile company to hang up its boots, if one may mix such a metaphor for a shipping line!

Brokers like the look of Clarckson..

Clarkson PLC

FORECASTS
2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
04-02-09 BUY 38.94 141.04 46.00 25.07 90.78 46.00

Daniel Stewart
30-01-09 BUY 41.70 154.20 46.00 27.40 101.40 46.00

Charles Stanley Securities
15-01-09 BUY 38.60 142.86 44.00 25.50 95.77 44.00

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 38.76 142.01 46.00 25.30 95.77 46.00

1 Month Change 2.11 10.01 1.23 -2.15 -2.89 0.61
3 Month Change 2.40 11.18 1.39 -13.81 -45.03 -2.57


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS 26.88% 28.79% -32.56%
DPS 11.76% 21.05% 0.00%

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)

EBITDA 28.80m 41.11m 27.06m
EBIT 25.10m m m
Dividend Yield 8.22% 9.96% 9.96%
Dividend Cover 2.90x 3.09x 2.08x
PER 4.19x 3.25x 4.82x
PEG 0.16f 0.11f -0.15f
Net Asset Value PS 195.18p 486.17p 538.10p

A forward P/E of just under 5 for 2009, far too cheap.

so throw your money in there .... i wouldn't and remember i am far closer to the real world of shipping that you

Comment From The TIMES

Stampede by banks to beat bonus crackdown

Pay rises and targets ditched as new chief stamps his mark on Unilever

Business Editor: Trichet needs to follow Britains lead (interest rates); Another day, another boss, another drive (Paul Polman, Unilevers new CEO); In defence of bonuses of contention - It is hard to see how paying forex dealers for good performance could be deemed a reward for failure or how it could encourage the sort of behaviour that led to the banking crisis

Tempus: BG Hold on; Unilever Pass; Compass Group There will be better times to buy

A Tiddler to Watch: Clarkson

Other comment: Coal price could be a bad omen for hard-hit miners

Smaller Companies: YouGov finds a 50% share drop

From todays Times..

Tiddler to watch

Clarkson rose 36p to 498p after Daniel Stewart advised its clients to buy the shipbroker. This follows strong gains in shipping indices as demand from Chinese steelmakers starts to recover. The broker, which has a target price of 700p, said the stock offered exceptional value at current levels.

sorry ... can't paste pix

Some insight into the MD DYOR
http://www.youtube.com/watch?v=DMuO-8S_0Wg&feature=PlayList&p=7638D2A5227C9A40&playnext=1&index=59

Loads err money.

pushing up near days highs again.

32% rise off back of my bonce calculations in 3 days.

bring it on for day 4 and day 5.

well done m8 ... you are right and i am wrong

ehh, come on cyners its never been a case of that.

Plenty of banter on these threads i though you were laid back like me and a bit thick skinned all in the best possible taste.

Highest respect for you.

it's ok pal ..... just a bit fraught at the mo ..... other than market generated

A few nips of the brown nectar over the weekend cyners.

Im off for some now.

have a good one.

cheers GF.

Interesting article in yesterday's Times:

Rush for ships feeds hope of revival in commodities
'A surge in shipping rates for bulk carriers, used to transport cargoes of wheat, coal and iron ore, has created a frisson of excitement about signs of recovery in trade with China.

'The Baltic Dry Index, a measure of freight rates for dry bulk vessels, gained 10 per cent in value yesterday after a 50 per cent increase last week as mining companies scrambled to hire ships to deliver iron ore to China.'

Copy and paste below for full article:

http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article5697766.ece

OVER 540P