Dry Bulk Weekly – May 17, 2010

Another strong week for dry freight. Baltic dry index rose 8.9% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index suggesting that iron ore is the game.

On the positive side we have China steel inventory coming off, decreased China coal inventory and softer iron ore prices, on the other side we have port congestion falling and a world of debt problems. Looks freight market is ahead of itself.

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 Monday, May 17th, 2010 at 2:25 am and is filed under China, 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