Dry Bulk Weekly

Baltic dry index fell 5.3% in the last week. Panamaxes outperformed the BDI, while Capesizes underperformed. For the time being dry freight weakness is due the slowdown of Chinese imports because of Chinese New Year and accompanying. This is also a reason for Capesize underperformance because this type of ships usually haul iron ore and coal and China imports most of these commodities.

We will have to wait a couple of weeks to find out whether Chinese commodity imports will return strong after the holidays.

Chart 1. Baltic Dry Indexes Relative Performance

Source: Bloomberg

Chart 2. Baltic Dry Index

Source: Bloomberg

Chart 2. Baltic Dry Index Components

Source: Bloomberg

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This entry was posted on Saturday, February 13th, 2010 at 1:59 pm and is filed under Commodities, Dry Bulk Weekly. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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