Dry Bulk Weekly – November 28, 2011
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%.
Global Macro Perspectives
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%.
Baltic Dirty Tanker Index rose 1.3%; Baltic Clean Tanker Index fell -1.7%.
Baltic dry index fell 11.6% last week; Capesize Index was down 14.8%; Panamax Index fell 5.3%; Supramax Index was down 7.8%; Handysize Index fell 7.4%.
Baltic Dirty Tanker Index fell 1.9%; Baltic Clean Tanker Index fell -2.7%.
Further deterioration in fundamentals.
I would say that the market is balanced now and all depends on the economic conditions.
Strong price action in the front end of the curve pushed the WTI into backwardation.
Huge move in WTI futures curve in the last two days. In theory this should be bullish.
Baltic dry index fell 0.1% last week; Capesize Index was down 0.6%; Panamax Index fell 2.8%; Supramax Index was up 0.8%; Handysize Index rose 0.5%.
Baltic Dirty Tanker Index rose 2.8%; Baltic Clean Tanker Index fell -2.8%.