Global Macro Perspectives
The total number of drilling rigs operating in North America rose for 1 rig. Number of natural gas drilling rigs rose for 2 rigs; number of crude oil rigs fell for 1 rig. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World […]
Words from the man himself: China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst. Bloomberg story: China May ‘Crash’ in Next 9 to 12 Months, Faber Says. Well, like most of his calls, this could also be on […]
Important U.S. earnings this week: Monday: Sysco (SYY), McKesson (MCK), Loews (L), Anadarko Petroleum (APC) Tuesday: Emerson Electric (EMR), Marathon Oil (MRO) Wednesday: Merck & Co. (MRK), Baker Hughes (BHI), Vornado Realty Trust (VNO), Archer Daniels Midland (ADM), Pfizer(PFE), Chesapeake Energy (CHK), Cognizant (CTSH), EOG Resources (EOG), CVS Caremark (CVS), News Corp. (NWSA), Duke Energy […]
Baltic dry index rose 11.3% last week on the back of 21.6% Capesize Index gain. Panamax, Supramax and Handysize Index recorded minor gains. Capsize rate rose 20% in a single day. Two things could have played a role here: securing a contract ahead of Labor day holidays in China and/or limited capesize vessel availability due […]
Baltic Dirty Tanker Index rose 2.1%; Baltic Clean Tanker Index increased 2.5%. The oversupply of shipping capacity is evident (especially in the product segment), despite increased crude oil volume transported. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes