Dry Bulk Weekly – January 31, 2011

January 31st, 2011 by Belisarius

(For The Week Ending January 28, 2011)

Baltic dry index fell 17.0% last week; Capesize Index was down 12.1%; Panamax Index fell 19.0%; Supramax Index decreased 15.3%; Handysize Index fell 7.1%.

Iron ore stockpiles in Chinese ports at all-time high, iron ore demand will be weaker because of lunar new year (February 3rd). All this looks quite negative for dry bulk rates.

Dry bulk companies news flow very negative with Korea line receivership and Excel maritime postponing $250 million debt offering.

We could see some improvement after the lunar new year; Keeping close watch on Egypt developments.

Chart 1. Baltic Dry Indexes Relative Performance

Chart 2. Baltic Dry Index


Chart 3. Baltic Dry Index Components

Chart 4. Iron Ore Inventory At Chinese Ports And Iron Ore Price

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

Chart 6. China Thermal Coal Inventory & Goldman Sachs China Commodity Index Coal


 

, , , , ,

This entry was posted on Monday, January 31st, 2011 at 7:16 am and is filed under China, Commodities, Dry Bulk Weekly, Shipping. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.

 
Get Adobe Flash player