Dry Bulk Weekly – September 27, 2010

Baltic dry index fell 8.7% last week; Capesize Index was down 10.3%; Panamax Index fell 7.1%; Supramax Index fell 6.6%; Handysize Index was down 1.5%.

Baltic dry index is off 18.6% from recent peek.

Holiday season in China (Mid Autumn Festival –  from September 22 to September 24  and National Day – from October 1 to October 7) is likely reason for BDI drop.

Stockpiles data not reported and iron ore and steel markets quiet because of holidays.

Chart 1. Baltic Dry Indexes Relative Performance

Source: Bloomberg

Chart 2. Baltic Dry Index

Source: Bloomberg

Chart 3. Baltic Dry Index Components

Source: Bloomberg

Chart 4. China Iron Ore Price Fines CFR Main China Port

Source: Bloomberg

Chart 5. China Domestic Hot Rolled Steel Sheet Spot Average Price

Source: Bloomberg

Chart 6. Iron Ore Inventory At Chinese Ports

Source: Bloomberg

Chart 7. China Total Steel Inventory

Source: Bloomberg

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