Nomura: Baltic Dry Index won’t rebound untill 2011

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Apr 2009

The Baltic Dry Index (BDI), a measure of world trade that collapsed a record 92% last year, won’t rebound until 2011, Nomura Holdings Inc. said. “We maintain our bearish view due to the large supply of new ships coupled with slow bulk demand,” Jim Wong, a Hong Kong-based transport and infrastructure analyst with Nomura , said in a report on Tuesday. “We forecast the BDI to decline 74% to 1,666 in 2009 and decrease further to 1,416 in 2010 before a rebound to 2,408 in 2011.”

Source: Livemint