Global Macro Perspectives
Baltic dry index fell 5.7% last week; The hardest hit sectors was Panamaxes with 8.7% loss and Supramaxes with 8.1% loss; Capesizes and Handysizes lost 2.1% and 3.5%. Expectations running high, stockpiles high, financial crisis threatening to cause a economic crisis. Iron ore prices sliding. It looks the things are slowing down in China. On the other hand ship prises rose […]
Baltic Dirty Tanker Index fell 6.1%; Baltic Clean Tanker Index fell 6.3%. A reflection of the things happening in the capital markets… Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index rose 6.1% last week, again Capesizes giving the direction with 20.8% gain. Panamax, Supramax and Handysize Index all recorded losses and underperformed the broader index. China Iron ore stockpiles again rising, Capesize rates probably fueled by coming India rain season which makes iron ore exports virtually impossible, so buyers have to turn […]
Baltic Dirty Tanker Index fell 13.6%; Baltic Clean Tanker Index fell 4.5%. With trans-Atlantic product arbitrage being dead and world commodity markets rocking, the only possible route for the over-supplied market is down. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index fell 2.2% last week, this time on the back of 10.1% Capesize Index loss. Panamax, Supramax and Handysize Index all recorded gains and outperformed the broader index. We had weaker spot iron ore prices, weaker China steel prices and higher iron ore and thermal coal stockpiles. Capesize activity decreased in the recent […]
Baltic Dirty Tanker Index rose 1.8%; Baltic Clean Tanker Index fell 2.7%. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Another strong week for dry freight. Baltic dry index rose 8.9% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index suggesting that iron ore is the game. On the positive side we have China steel inventory coming off, decreased China […]
Baltic Dirty Tanker Index rose 10.3%; Baltic Clean Tanker Index rose 1.1%. International Energy Agency (IEA) reduced demand figures (especially on the call for OPEC crude and estimates of increased OECD stocks day cover) did not lower the rates, just contrary. Strong dirty and soft clean rates could again be a sign of weak demand […]
Baltic dry index rose 7.6% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index. Strong iron ore demand from China is fueling the gains. If financial turmoil continues, the gains will be hard to hold on. Chart 1. Baltic Dry […]
Baltic Dirty Tanker Index fell 0.4%; Baltic Clean Tanker Index fell 1.3%. No mayor freight rate moves despite financial turmoil. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
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
Baltic dry index rose 0.1% last week. Capesize Index gains were offset by Panamax Index losses. Supramax and Handysize Index almost unchanged. Not much happening here also…Chinese buyers cutting back on iron ore import volumes thereby hurting capesize rates; Iron ore producers holding prices high. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic […]
Baltic Dirty Tanker Index rose 2.5%; Baltic Clean Tanker Index increased 6%. A touch of reality coming to the markets with vessel owners realizing the May demand could be weaker than (over-optimistically) expected. Despite much effort your favorite blogger didn’t find a single interesting story in the sector this week. Chart 1. Baltic Tanker Indexes […]
Baltic dry index rose 3.3% last week. All index components ended in positive territory. Supramax Index outperformed the Baltic Dry Index while Capesize, Panamax and Handysize Index underperformed. In the last weekly I wrote on new-building deliveries which reached all-time record in firs quarter. In the second hand market we had 157 dry bulk vessels […]