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Nomura: Baltic Dry Index won’t rebound untill ‘11

Nomura: Baltic Dry Index won’t rebound untill ‘11
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First Published: Tue, Apr 28 2009. 11 33 PM IST
Updated: Tue, Apr 28 2009. 11 33 PM IST
London: 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.”
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First Published: Tue, Apr 28 2009. 11 33 PM IST