re: We now know who Q is!

quote:
Now that we know that the shipping market was pushing traders into bigger vessels, the question now is... did the DS take advantage of this market structure to fake an accident or was it an honest mistake and they got too greedy in terms of capacity?
....
Genco Shipping & Trading Ltd. Chief Executive John Wobensmith told Bloomberg that "it just shows you how tight the overall dry-bulk market is, and it's only going to get tighter." He said soaring shipping rates are "not something that is for the next three months - this has got legs going well into 2022 because of the low supply situation."

Wobensmith said dry-bulk freight rates had averaged around $18k per day this year, up 40% from last year. Rates are expected to continue to climb into the second half of the year as volumes of commodities sourced from emerging markets will remain elevated.

More disorder nears as President Joe Biden's $1.9-trillion relief bill is making its way into the economy, expected to turbocharger consumer demand for products made overseas, which will only result in additional stress on the global supply chain.

Bloomberg Intelligence analyst Lee Klaskow noted last week that dry bulk had begun 2021 on a "high note. China and an expected global economic recovery have set up one the strongest opening quarters for dry-bulk demand in a decade."

The lesson to be learned is that global supply woes are being amplified by government and central bank interventions to save the global economy. As a result of letting economies run hot, inflationary expectations worldwide are moving higher as government bond yields soar.

https://www.zerohedge.com/commodities/largest-dry-cargo-ships-haul-unusual-loads-dry-bulk-market-tightens

interesting tugboat names trying to help evergreen