Dry Bulk Weekly – May 31, 2010

Baltic dry index rose 6.1% last week, again Capesizes giving the direction with 20.8% gain. Panamax, Supramax and Handysize Index all recorded losses and underperformed the broader index.

China Iron ore stockpiles again rising,  Capesize rates probably fueled by coming India rain season which makes iron ore exports virtually impossible, so buyers have to turn to Australian and Brazilian mines.

Chart 1. Baltic Dry Indexes Relative Performance

Source: Bloomberg

Chart 2. Baltic Dry Index

Source: Bloomberg

Chart 3. Baltic Dry Index Components

Source: Bloomberg


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