Dry Bulk Weekly – 19 February, 2010
Baltic dry index rose 5.6% in the last week. Capesize Index outperformed the BDI, Panamax Index was in line, while Supramax and Handysize Index underperformed. The market action seems like a result of market participants fixing Capesize vessels in anticipation of China return to the markets after the this week New Year celebration and on the other side ship owners withholding tonnage from the market in anticipation of better rates when Chinese imports resume.
It is highly likely that the BDI will rise in coming months.
Chart 1. Baltic Dry Indexes Relative Performance
Source: Bloomberg
Chart 2. Baltic Dry Index
Source: Bloomberg
Chart 2. Baltic Dry Index Components
Source: Bloomberg