Baltic Dry Index Closes Sharply Lower

How?

Is this a mere blip? Or do you reckon that this could be it.... for now?

On the posting Are Things Looking Good As Baltic Dry Index Closed At 3494??

Some of the comments highlighted worth reviewing once more

• Volumes will have to slacken at some point this summer, and when they do, freight rates will fall back.
• But analysts have questioned whether the rally can last as iron ore stockpiles in China have been rising while demand for steel remains sluggish
• "There is demand from China. Now letters of credit are also being issued easily (by banks to shipping firms), unlike a few months back. Over the past one week, things are looking better
• Morgan Stanley this week upgraded its view on the global commodity shipping industry to "attractive," saying it is turning incrementally bullish."There was some inventory build in January-March, but since then inventories are leveling off, supporting our view that the dry bulk market has entered a period of sustainable recovery
• "Freight rates are going up so shippers are getting higher revenues. Its still not time to lock-in. This spurt is mainly because of China and how long will it last we don't know," an analyst with a Mumbai-based brokerage, who has a neutral rating on GE Shipping, said.