Derivatives broker John Banaszkiewicz likens the dry freight market to a famous erotic novel.
“It’s like ‘Fifty Shades of Grey’,” he says. “You’ve got to be blindfolded but enjoy the ride.”
Banaszkiewicz advises that traders should “ignore the rates but enjoy the volatility”.
That may be easier said than done, with China’s yuan devaluation laying waste to hopes of a dry cargo rebound for the forseeable future.
