Dry Bulk Weekly – August 8, 2010
Baltic dry index rose 3.2% last week; Capesize Index gained 14.2%; Panamax Index fell -1.2%; Handysizes and Supramax Indexes gained -3.6% and -1.6% respectively.
Positive recent developments: Russia grain export ban – increasing ton-mile relation; India imposing additional iron ore export tariffs – also increasing ton-mile relation; improved China steel prices and reduced China steel stockpiles.
Negative recent developments: All time iron ore stockpiles in China ports, still unfavorable steel mill margins.
And the new-buildings just keep on coming to the market.
Chart 1. Baltic Dry Indexes Relative Performance
Chart 2. Baltic Dry Index
Chart 3. Baltic Dry Index Components