Rig Count Update – March 7, 2013
Number of crude oil drilling rigs in the U.S. was quite stable in the last 6 months. On a year level we had a small decrease.
On world scale number of oil & gas drilling rigs changed only for the change in the U.S.
Archive for March, 2013
Tanker Update – March 6, 2013
Same as with dry bulk, we are long time away from recovery, but I tend to think that overcapacity is smaller in wet cargo.
Baltic Dirty Tanker Index rose 3.4%; Baltic Clean Tanker Index rose 1.2%.
Dry Bulk Update – March 6, 2013
I don’t see any encouraging data for the dry bulk industry, we are probably years away from recovery.
Last week Baltic Dry Index rose 4.9%; Capesize Index was down 6.9%; Panamax Index rose 14.0%; Supramax Index was up 8.9%; Handysize Index rose 8.5%.
China steel and coal inventories edged up while their prices moved down. Iron ore inventory on the other hand moved down, while price showed some signs of recovery. Overall the demand in these markets seems weak.