Tanker Weekly – August 16, 2011
Baltic Dirty Tanker Index fell 2.2%; Baltic Clean Tanker Index rose 0.3%.
Global Macro Perspectives
Baltic Dirty Tanker Index fell 2.2%; Baltic Clean Tanker Index rose 0.3%.
Baltic dry index rose 1.5% last week; Capesize Index was up 2.6%; Panamax Index rose 2.2%; Supramax Index was up 0.4%; Handysize Index fell 2.7%.
Iron ore inventory at all time high, price unchanged; Steel inventory and price stable; Thermal coal inventory and price stable.
Working gas in storage rose 25 Bcf from previous week. Consensus was at 35 Bcf.
Storage level is 202 Bcf lower than same time year ago and bellow 5-year average.
Technically crude oil (WTI) looks heavily oversold. Massive fall in total crude oil and distillates inventory.
China trade balance was reported at USD 31.5 billion vs. USD 22.3 billion in June and USD 27.4 billion consensus. Export and import growth were running at 20.4 and 22.9 percent vs. 17.9 and 19.3 percent y-o-y in June.
Strong set of figures.
Number of crude oil drilling rigs in the U.S. rose for 24 in July; Number of natural gas drilling rigs rose for 6.
On world scale number of oil & gas drilling rigs rose for 140 in July.
Baltic Dirty Tanker Index fell 1.0%; Baltic Clean Tanker Index fell 1.2%.
Baltic dry index rose 0.3% last week; Capesize Index was up 3.1%; Panamax Index fell 2.2%; Supramax Index was down 0.7%; Handysize Index fell 2.4%.
Iron ore and steel inventory not reported; prices stable. Thermal coal inventory and price stable.
U.S. railroads originated 292,812 carloads, down 2.5% compared with the same week in 2010 and down 5.1% compared with 5-year average. Week over week change was +0.3%.
Working gas in storage rose 44 Bcf from previous week.
Storage level is 190 Bcf lower than same time year ago and bellow 5-year average.
Technically crude oil (WTI) looks heavily oversold. On the other side crude oil demand is closely following 2008 path…
U.S. railroads originated 291,909 carloads, up 1.8% compared with the same week in 2010 and down 4.0% compared with 5-year average. Week over week change was +3.7%.
Baltic Dirty Tanker Index fell 1.6%; Baltic Clean Tanker Index rose 0.9%.
Baltic dry index fell 4.5% last week; Capesize Index was down 5.0%; Panamax Index fell 1.6%; Supramax Index was down 0.9%; Handysize Index fell 3.0%.
Demand weakened in recent weeks, crude oil stocks rose, distillates stocks rose.