Dry Bulk Weekly – August 1, 2010

Baltic dry index rose 7.7% last week; Capesize Index gained 12.5%; Panamax Index rose 11.4%; Supramax and Handysizes Indexes gained 0.9% and 3.3% respectively.

Rates are rising a bit as some ship owners choose to anchor their ships rather than lose money on chartering them. Chinese iron ore and steel prices rose last week, bringing some optimism to the markets. I believe that Chinese mills will hold on for iron ore imports till Q4 when more favorable prices based on quarterly pricing will kick in.

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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This entry was posted on Sunday, August 1st, 2010 at 5:57 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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