Dry Bulk Weekly – August 1, 2011
Baltic dry index fell 4.5% last week; Capesize Index was down 5.0%; Panamax Index fell 1.6%; Supramax Index was down 0.9%; Handysize Index fell 3.0%.
Archive for the ‘China’ Category
Dry Bulk Weekly – July 25, 2011
Baltic dry index fell 0.1% last week; Capesize Index was up 3.6%; Panamax Index fell 9.9%; Supramax Index was down 1.2%; Handysize Index fell 1.2%.
Iron ore inventory at all time high, price unchanged. Steel inventory declining, price stable. Massive increase in coal stockpiles, price also stable.
Dry Bulk Weekly – July 4, 2011
Baltic dry index fell 0.1% last week; Capesize Index was up 3.6%; Panamax Index fell 9.9%; Supramax Index was down 1.2%; Handysize Index fell 1.2%.
Large increase in coal stockpiles, no major changes in other categories.
China Official PMI For June At 50.9
Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI fell form 52.0 to 50.9. Consensus was at 51.5.
Dry Bulk Weekly – June 27, 2011
Baltic dry index rose 0.1% last week; Capesize Index was up 8.2%; Panamax Index fell 7.8%; Supramax Index was up 0.2%; Handysize Index fell 1.8%.
Iron ore inventory high, price moved lower; Both steel inventory and price moved lower; In coal both price and inventory moved up. Historically speaking coal inventory is low.
China HSBC/Markit PMI For June At 50.1
HSBC/Markit China PMI for June fell from 51.6 to 50.1. This means industrial production growth is slowing down to something like 13%.
Dry Bulk Weekly – June 20, 2011
Baltic dry index rose 0.4% last week; Capesize Index was up 5.1%; Panamax Index fell 0.7%; Supramax Index was down 2.2%; Handysize Index fell 2.0%.
No major changes in both price or inventory of iron ore, steel and coal.
Industrial Production In China Rose 13.3% In May
Industrial production in China rose 13.3% y-o-y in May; April reading was at 13.4%. Consensus was at 13.1%.
China Retail Sales Up 16.9% In May
China retail sales rose 16.9% y-o-y in May vs. 17.1% April reading. Consensus was at 17.0%.
China May CPI Inflation At 5.5%; PPI Inflation At 6.8%
China Consumer Price Index was up 5.5% in May, vs. 5.2% consensus and 5.3% April reading.
China Producer Price Index was up 6.8% vs. 6.8% consensus and 6.8% April reading.
Strong PPI suggest that the inflation will not come down so fast.
The POBC rose the reserve requirement after the CPI release (to 21%(21.5% for large institutions and 19.5% for small and medium-sized institutions)).
Dry Bulk Weekly – June 13, 2011
Baltic dry index fell 4.8% last week; Capesize Index was down 10.5%; Panamax Index rose 7.6%; Supramax Index was down 6.1%; Handysize Index fell 2.1%.
Thermal coal stockpiles unchanged at extremely low levels; Steel stockpiles fell but stocks are high; Iron ore stockpiles at new record high. Prices still strong.
China New Loan Issuance Slows Down In May; Rate Of Money Supply Growth Eases
The most broad measure of money supply – M2 rose 15.1% y-o-y in May vs. 15.5% consensus and 15.3% rise in April.
Chinese banks issued CNY 552 billion of new loans in May vs. CNY 740 billion in April and consensus of CNY 650 billion. New loan issuance January-May is 11.7% lower than in 2010.
China Trade Balance Surplus Smaller Than Expected In May
China trade balance was reported at USD 13.5 billion vs. USD 11.4 billion in April and USD 19.3 billion consensus. Export and import growth were running at 19.4 and 28.4 percent vs. 29.9 and 21.8 percent y-o-y in April.
Big miss, but we had large positive surprise in April.
Dry Bulk Weekly – June 6, 2011
Baltic dry index rose 1.5% last week; Capesize Index was up 8.1%; Panamax Index fell 4.1%; Supramax Index was down 1.0%; Handysize Index fell 1.9%.
Thermal coal stockpiles ticked up but are still at extremely low levels; Steel stockpiles fell but stocks are high; Iron ore stockpiles recorder a massive rise reaching new record high. Prices still strong.
Iron ore inventory rise could be a early warning sign of stronger than expected China slowdown.
Dry Bulk Weekly – May 23, 2011
Baltic dry index rose 3.3% last week; Capesize Index was up 11.2%; Panamax Index fell 3.1%; Supramax Index was down 1.4%; Handysize Index fell 1.0%.
Thermal coal stockpiles are unchanged at extremely low levels; Steel stockpiles also unchanged but stocks high; Iron ore stockpiles near record high. Prices strong.