Global Macro Perspectives
Baltic Dirty Tanker Index rose 1.8%; Baltic Clean Tanker Index decreased 1.8%. Similar as with crude oil markets the demand here is weak, but vessel owners are expecting firm May demand (firm is maybe an understatement). I’m skeptical. Concerning floating storage, recent reports say that 40 VLCC’s or 7.5% of world fleet is used to […]
Baltic dry index fell 2.6% last week. Panamax and Supramax Index ended in positive territory while Capesize and Handysize Index ended in negative territory. Chinese steel mills are quite unhappy with the new iron ore price setting mechanism and especially iron ore price. Their efforts are to substitute Brazilian and Australian iron ore with Indian […]
Baltic Dirty Tanker Index fell 1.5% last week while Baltic Clean Tanker Index decreased 2.4%. Broker reports suggest increased number of cargoes was being loaded and increased number of inquiries. Despite that the rates are at historically low levels and the reported (alleged) increase in activity has not made any difference. The repercussions on crude […]
Baltic dry index fell 3.5% in the last week. Capesize Index outperformed and ended in positive territory while Panamax, Supramax and Handysize Index all underperformed and ended in negative territory. The increasing number of longer term time charters negotiated in recent weeks could be a sign what the vessel owners expect from the rates. As […]
Baltic Dirty Tanker Index fell 9.5% last week while Baltic Clean Tanker Index decreased 2.5%. Not much happening here, weak demand is a constraint that catches up with the markets every time the rates increase a bit. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index fell 8.3% in the last week. Handysize Index outperformed while Capesize, Panamax and Supramax Index all underperformed. The iron ore price fixing saga continues. Chinese steel mills have moved its iron ore sourcing from Brazil and partially Australia to India in an effort to pressure primarily Vale into iron ore price concessions. […]
Baltic Dirty Tanker Index fell 2.2% last week while Baltic Clean Tanker Index fell 3.2%. Product rates underperformed crude rates by a wide margin in recent couple months. It was due to collapse of Atlantic product arbitrage and decrease in petrochemical feedstock demand (unfavorable margins). Both possible indication of a weaker demand. Chart 1. Baltic […]
Baltic dry index fell 3.6% in the last week due to massive 18.6% drop in Capesize Index. Panamax, Supramax and Handysize Index ended all in positive territory. The Capesize Index fell due to increased supply of available vessels which outnumbered the also increased number of cargoes needed to be transported and due to capsize/panamax substitution […]
Baltic Dirty Tanker Index rose 16.0% last week while Baltic Clean Tanker Index fell 4.6%. Strong demand for crude transportation, weak for products. Interesting, on shore storage near record levels, a lot of oil traveling on tankers, contango easing (lower roll yield for oil stored on sea). I would say we are heading towards short […]
Baltic Dirty Tanker Index rose 5.2% last week while Baltic Clean Tanker Index rose o.3%. Demand picked up slightly, pushing the prices and demand slightly. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index rose 8.1% in the last week. Capesize, Supramax and Handysize Index outperformed the BDI, Panamax Index underperformed. Rumors in the iron ore market continue; worlds largest iron ore producer Vale even thinking on abandoning yearly price fixing and selling iron ore on spot market. There is a great disparity between iron ore […]
Baltic dry index rose 18.4% in the last week. Rocket propelled lift-off. Capesize and Panamax Index outperformed the BDI, Supramax and Handysize Index underperformed. The Chinese buyers returned to the iron ore in a big way. Mayor factor here are iron ore price increase agreed in the annual price talks, the rumors range from 30% […]
Baltic Dirty Tanker Index fell 2.1% last week while Baltic Clean Tanker Index rose 2.2%. Fixing activity stronger than the week before, but the indexes did not change substantially. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic Dirty Tanker Index fell 0.2% last week while Baltic Clean Tanker Index fell 0.5%. Nothing special happening. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index rose 0.9% in the last week. Capesize Index underperformed the BDI, Panamax Index, Supramax and Handysize Index outperformed. Nothing major on the news front. Improved activity in the Capesize, but the rates fell (probably because of falling iron ore/ final product price differential). Strong rates in smaller ship segments. Chart 1. Baltic […]