Dry Bulk Weekly – June 21, 2010
Baltic dry index fell 18.1% last week; The hardest hit, again, were Capesizes with 26.7% loss. Panamaxes lost 11.3% ; Supramaxes and Handysizes lost 7.4% and 6.5%.
China and Taiwan were on holiday from Monday to Wednesday, seasonal weakness and new-buildings hitting the markets all contributed to the dry freight rates falling. Will we have more than a seasonal weakness remains to be seen. At the moment things don’t look good.
Chart 1. Baltic Dry Indexes Relative Performance
Source: Bloomberg
Chart 2. Baltic Dry Index
Source: Bloomberg
Chart 3. Baltic Dry Index Components
Source: Bloomberg