Market Commentary: Credit Suisse Remains Upbeat on Asian Dry Bulk

The upcycle in dry bulk freight rates will peak at the earliest in the second half of 2009, according to the latest market report by Credit Suisse. The investment bank anticipates the current dry bulk boom will run harder and longer than previous ones, with the freight rates rising 5 percent in 2008 before staying stagnant in 2009 due to robust demand and supply constraints at the shipyards.

The report, written by HungBin Toh, Sam Lee and Karen Chan, maintains an optimistic global economic outlook and expects the effective dry bulk demand growth to be boosted by China’s accelerating food stuff imports and longer travel distances. Credit Suisse economists predict global GDP growth to be 5.2 percent this year and 5.3 percent in 2008 and expect global industrial production to expand between 6 and 7 percent in 2007-08.

This is only an excerpt of Market Commentary: Credit Suisse Remains Upbeat on Asian Dry Bulk

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