BDI about to roll over?

Baltic Dry Index has bounced in the recent weeks. This has given some support to shippers’ stock prices but the lift may be short lived: As Figure 1 shows the bounce is seasonal and about to roll over.  I am bulk shippers as prices are low compared to book values; but with the industry bleeding money and China slowing fast, it is prudent to wait.

Figure 1: Seasonal variations of Baltic Dry Index