Tanker Weekly – September 5, 2011
Both indexes were unchanged last week.
Archive for September, 2011
Dry Bulk Weekly – September 5, 2011
Baltic dry index rose 12.9% last week; Capesize Index was up 26.8%; Panamax Index fell 1.3%; Supramax Index was down 0.6%; Handysize Index rose 0.4%.
My feeling is that the rate increases are mostly sentiment driven and not backed by supply and demand fundamentals.
Iron ore inventory close to all time high, price edging up; Steel inventory and price stable; Coal inventory and price also stable.
U.S. Natural Gas Weekly – September 2, 2011
Working gas in storage rose 55 Bcf from previous week. Consensus was at 60 Bcf.
Storage level is 145 Bcf lower than same time year ago and bellow 5-year average.
August Nonfarm Payrolls Unchanged; Private Payrolls Up 17.000; Unemployment Rate At 9.1%
Nonfarm payrolls were unchanged in August; Consensus was at 60.000; July reading was an increase of 85.000 (revised down 32.000). The unemployment was reported at 9.1% vs. prior reading and consensus of 9.1%.
Private payrolls were up 17.000 vs. 95.000 consensus and 156.000 reading in July (revised up 2.000).
Large negative surprise and a confirmation of economic slowdown.
Monthly Strategy – September 2011
Not much has changed from August. The leading economic indicator are not pointing to any king of recovery from recent weakness.
U.S. Initial Jobless Claims At 407.000; Down 12.000
Initial jobless claims in the U.S. were reported at 407.000 vs. 410.000 consensus and last week revised (up 4.000) reading of 421.000.
August China Official PMI At 50.9; HSBC/Markit China PMI At 49.9
Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI rose form 50.7 to 50.9; Consensus was at 51.0.
HSBC/Markit PMI rose from 59.3 to 49.9.