BALDRY: Months of Wonder

Months of Wonder

The Markets have left dry bulk shippers at a stand still and prices at their lowest levels in years. The index has plummeted due to the financial turmoil on international markets, falling commodity prices and fears that Asian demand will falter. Some shippers and analysts have noted that letters of credit -- bank guarantees on behalf of buyers that are given to exporters and which are an important aspect of global trade -- have become scarce, leaving some cargoes stranded.

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