Dry Bulk Weekly – 4 April, 2010

Baltic dry index fell 3.5% in the last week. Capesize Index outperformed and ended in positive territory while Panamax, Supramax and Handysize Index all underperformed and ended in negative territory.

The increasing number of longer term time charters negotiated in recent weeks could be a sign what the vessel owners expect from the rates. As I wrote, the annal price fixing practice has become history from this year. The iron ore price increase does not bode well with the steel mills and steel end users, so some sort of complacency has taken over the markets. The number of iron ore cargoes has staidly declined over the last few weeks, the number of coal cargoes has increased, the port congestion has increased.

Again, no clear direction for the markets.

Chart 1. Baltic Dry Indexes Relative Performance

Source: Bloomberg

Chart 2. Baltic Dry Index

Source: Bloomberg

Chart 3. Baltic Dry Index Components

Source: Bloomberg


This entry was posted on Sunday, April 4th, 2010 at 7:11 am 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.

Comments are closed.


Get Adobe Flash player