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Last updateΔευ, 01 Ιουλ 2024 7am

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Weekly Drycargo Shipping Technical Analysis - Weekly Closing/Fixing (Thursday) 930

BDI lazaris 930

Reg TANKERS the new Newbuildings frenzy is called SUEZMAX. Very few NB orders in Drycargo sector. For Capesizes the only route exists is Aussie/Feast. All others are almost dead incl fronthaul cargoes and tc period activity. Panamaxes are the only ones climbing slowly up on rates.

The implementation of Chinese Govt ''import tax'' bring owners to at least awkward position. Plenty of Supramaxes all around and consequently rates are dropping Shipping shares in NYSE are taking quite a beating this week, with DRYSHIPS one to lead the race followed by PARAGON. Current geopolitical conditions push the market lower and kindly take a note that in abt one month, the EL NINO phenomenon will appear again.

TECHNICALLY, Index now below both TENKAN SEN and KIJUN SEN Indicators (part of Ichimoku cloud), and approaching the very good support around 900. Penetration of the last mentioned figure would set as target the region around 723 which is a very STRONG support. Hv all a nice weekend.

Stelios Lazaris, md Maritime Investments A.G. Zurich

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