Dry bulk market stays subdued at the end of 2010

The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand, the market’s retreat to well under 2,000-point levels can be seen as a good sign since the new year will begin on a low end, leaving enough room for growth during the following months. On the other hand, one can’t ignore the fact that a flurry of newbuildings have been “choking” the market in recent months, not letting freight rates increase despite healthy demand, apart from seasonal situations.
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Source: Hellenic Shipping News