Dry Bulk Weekly – June 26, 2010

Baltic dry index fell 7.2% last week; The hardest hit, again, were Capesizes with 13.3% loss; Supramaxes and Handysizes lost 4.9% and 5.2%; Panamaxes gained 2.2% .

It looks the baltic dry index is bottoming. The action was in the capesize sector, so Chinese iron ore demand is the game as a consequence of reduced steel margins . Panamax rates are at premium versus Capesizes, so we will probably see balancing by Capsize rates rising.

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 Saturday, June 26th, 2010 at 7:22 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.

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