BDI as an important assessment for shipping industry remains fluctuating at over 700 points this year.

Zhang Shouguo, Vice Chairman and Secretary General of China Shipowners' Association said that shipping industry is not expected growth in earnings until BDI reaches 2500 points. It is widely believed that shipping industry will keep depressed in 2013.

Analysts said that 2011 saw 70% shipping enterprises in China operated at a loss while 2012 surpassed 80%.

Secretary General of Shanghai International Shipping Institute Zhen Hong said that European debt crisis and global economy recession are just influential factors and the primary cause is oversupply.

The Chinese government is planning to carry out policies to rescue shipping market, which is likely to be seen at the end of 1Q.

Source from CNSS