Global Macro Perspectives
Baltic dry index fell 5.7% last week; Capesize Index was down 7.9%; Panamax Index rose 6.3%; Supramax Index was down 7.4%; Handysize Index was down 3.1%.
Apparently China has slowed down the rate of purchases here also. Despite falling stockpiles Chinese buying is weak which means rates are falling.
Baltic Dirty Tanker Index rose 3.5%; Baltic Clean Tanker Index rose 3.2%.
Despite popular belief that China is driving crude oil demand the data for October shows that China imported just 16.4 million tons of crude oil. This is the lowest level since April 2009 and it is 30% bellow September imports. In the U.S., despite the recent draw stockpiles are still high and the demand probably will not change much…
(For The Week Ending October 29, 2010) Baltic dry index fell 1.8% last week; Capesize Index was down 2.5%; Panamax Index rose 8.6%; Supramax Index was down 2.3%; Handysize Index was down 5.6%. Chinese demand strong, supply of available ships is enough to keep prices at current level. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. […]
(For The Week Ending October 29, 2010) Baltic Dirty Tanker Index rose 3.3%; Baltic Clean Tanker Index fell 1.7%. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index fell 1.3% last week; Capesize Index was up 0.6%; Panamax Index fell 1.6%; Supramax Index was down 3.6%; Handysize Index was down 4.4%. Not much happening here. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart 3. Baltic Dry Index Components Chart 4. Iron Ore Inventory At Chinese […]
(For The Week Ending October 22, 2010) Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index rose 2.9%. I can repeat last week’s comment: “Even though the strike in France keeps vessels employed (at anchor) – the market is still oversupplied. Rates are bellow operating costs.” Bloomberg story: Supertankers Face Two-Year Losing Streak as […]
Baltic dry index rose 2.4% last week; Capesize Index was up 6.6%; Panamax Index fell 6.2%; Supramax Index was down 1.9%; Handysize Index was down 3.8%. Capesizes still leading on iron ore demand from China. Strange that other vessel classes and not following… Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart […]
(For The Week Ending October 15, 2010) Baltic Dirty Tanker Index fell 4.0%; Baltic Clean Tanker Index was unchanged. Even though the strike in France keeps vessels employed (at anchor) – the market is still oversupplied. Rates are bellow operating costs. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index rose 10.0% last week; Capesize Index was up 19.2%; Panamax Index fell 0.4%; Supramax Index rose 2.8%; Handysize Index was down 0.5%. So, capesizes again leading. Strong iron ore demand from China. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart 3. Baltic Dry Index Components Chart 4. […]
(For The Week Ending October 8, 2010) Baltic Dirty Tanker Index rose 10.7%; Baltic Clean Tanker Index fell 0.3%. Probably a short term mismatch (strike in France) in supply and demand pushed dirty rates up. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Baltic dry index rose 0.3% last week; Capesize Index was up 9.5%; Panamax Index fell 11.3%; Supramax Index fell 1.9%; Handysize Index was down 2.9%. So, capesize gains offset other component losses. Data flow is tainted by holiday season in China (Mid Autumn Festival – from September 22 to September 24 and National Day – from October 1 to […]
Baltic Dirty Tanker Index fell 0.4%; Baltic Clean Tanker Index fell 4.6%. Supply still overweighting demand. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Interesting chart today in Bloomberg’s Chart of the Day by Norwegian Arctic Securities. A slowing merchant shipping fleet isconcealing capacity that will undermine the industry’s recoveryas world trade quickens, according to Arctic Securities ASA, anOslo-based investment bank. The biggest reduction occurred in container shipping, wherespeeds dropped by 20 percent from their peak, according toArctic estimates. […]
Baltic dry index fell 8.7% last week; Capesize Index was down 10.3%; Panamax Index fell 7.1%; Supramax Index fell 6.6%; Handysize Index was down 1.5%. Baltic dry index is off 18.6% from recent peek. Holiday season in China (Mid Autumn Festival – from September 22 to September 24 and National Day – from October 1 to October […]
Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index fell 2.2%. Dead in the water. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes