Dry Bulk Weekly – August 1, 2010
Baltic dry index rose 7.7% last week; Capesize Index gained 12.5%; Panamax Index rose 11.4%; Supramax and Handysizes Indexes gained 0.9% and 3.3% respectively.
Rates are rising a bit as some ship owners choose to anchor their ships rather than lose money on chartering them. Chinese iron ore and steel prices rose last week, bringing some optimism to the markets. I believe that Chinese mills will hold on for iron ore imports till Q4 when more favorable prices based on quarterly pricing will kick in.
Chart 1. Baltic Dry Indexes Relative Performance
Chart 2. Baltic Dry Index
Chart 3. Baltic Dry Index Components