Dry Bulk Weekly – January 7, 2013
(For The Week Ending January 4, 2013)
Almost half a year passed since my last post. I have to say I miss my blogging, so one of my New Year decisions was start over, probably not with intensity as in the best days…
In the mean time we had a wild ride with equity and most of the other prices in China, but ultimately (concerning shipping) the result is that we are about where we were 6 months ago, only the dry bulk fleet now is even bigger.
Still no turnaround on the horizon for the dry bulk shipping industry. We have to see some massive scrapping of old ships before that.
Last week Baltic Dry Index rose 1.0%; Capesize Index was up 4.0%; Panamax Index fell 4.1%; Supramax Index was up 1.5%; Handysize Index fell 0.2%.
Iron ore inventory at Chinese ports fell steeply in autumn which caused a moderate increase in iron ore prices. The action in Steel was quite similar to iron ore.. Thermal coal inventory at increased in the last month or so to historically high level, the price was flat in the last half of the year.
Baltic Dry Index, China, Coal, Dry Bulk, Iron Ore, Shipping, Steel