Dry Bulk Weekly – December 12, 2011
Baltic dry index rose 3.0% last week; Capesize Index was up 8.4%; Panamax Index rose 0.7%; Supramax Index was down 7.9%; Handysize Index fell 3.4%.
Global Macro Perspectives
Baltic dry index rose 3.0% last week; Capesize Index was up 8.4%; Panamax Index rose 0.7%; Supramax Index was down 7.9%; Handysize Index fell 3.4%.
Baltic Dirty Tanker Index rose 8.1%; Baltic Clean Tanker Index rose 2.1%.
Order-book is shrinking fast with high delivery count and abundant cancellations looming. We are probably looking at couple catastrophic years for the industry ahead.
China Consumer Price Index was up 4.2% in November, vs. 4.5% consensus and 5.5% October reading. Food inflation eased from 11.9% to 8.8%..
China Producer Price Index fell to 2.7% from 5.0% in October. Consensus was at 3.4%.
Massive oversupply.
Crude oil market looks well balanced. Future economic conditions and consequent commodity demand are key here.
U.S. railroads originated 265,305 carloads, down 12.6% compared with the same week in 2010 and down 12.3% in relation to 5-year average. Week over week change was -12.1% . This was all due to Thanksgiving Day seasonality.
Baltic dry index rose 3.3% last week; Capesize Index was up 11.8%; Panamax Index fell 5.2%; Supramax Index was down 3.3%; Handysize Index fell 2.5%.
Baltic Dirty Tanker Index fell 0.8%; Baltic Clean Tanker Index rose 3.0%.
Baltic Dirty Tanker Index fell 0.6%; Baltic Clean Tanker Index rose 3.4%.
Baltic dry index fell 4.6% last week; Capesize Index was down 5.7%; Panamax Index fell 2.0%; Supramax Index was down 0.1%; Handysize Index fell 3.3%.
HSBC/Markit PMI fell from 51 to 48.0.
Baltic dry index rose 3.3% last week; Capesize Index was up 2.7%; Panamax Index rose 4.0%; Supramax Index was up 4.3%; Handysize Index fell 2.1%.
Baltic Dirty Tanker Index rose 1.4%; Baltic Clean Tanker Index fell -2.4%.
Crude oil supply and demand remain balanced. Crude had a tremendous run and it’s starting to look overextended. Brent WTI price spread narrowed on the reversal of Seaway pipeline.
Baltic dry index rose 2.9% last week; Capesize Index was up 13.0%; Panamax Index fell 4.1%; Supramax Index was down 7.1%; Handysize Index fell 7.3%.