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2009-7-2 08:54:00 a.m. HKT, XFNA
DJ MARKET TALK:Nomura Tips Strong BDI Rebound From End-3Q Onwards
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| 0844 [Dow Jones] Nomura believes China's property construction activity, infrastructure demand, as result of China's stimulus package, will continue to lead to strong dry-bulk shipping demand in 2H09. Still, despite bullish view on bulk shipping sector, reckons there could be short-term freight rate correction as BDI tends to be seasonally weaker in 3Q. Nevertheless, expects BDI to rebound strongly from end-3Q onwards due to higher demand from winter season, start of grain harvest season, strong iron ore demand driven by steel, construction. China Cosco (1919.HK) closed down 3.1% at HK$9.23 Tuesday, China Shipping (1138.HK) off 3.3% at HK$10.00, Pacific Basin (2343.HK) down 2.4% at HK$4.95.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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