Global Macro Perspectives
In last 7 sessions Baltic Dry Index declined 14.5%. This is little bit surprising since with the start of new quarter lower iron ore price kicks in. Maybe holiday season (Mid Autumn Festival – from September 22 to September 24 and National Day – from October 1 to October 7)… Chart 1. Baltic Dry Index
Baltic dry index fell 10.7% last week; Capesize Index was down 13.7%; Panamax Index also fell 13.7%; Supramax Indexes fell 1.7%; Handysize Index rose 0.6%, China iron ore stockpiles moved sharply higher offsetting last week’s inventory draw. We will probably see increased demand with the start of new quarter and lower iron ore benchmark prices. Not much happening […]
Baltic dry index rose 4.1% last week; Capesize Index was up 2.1%; Panamax Index rose 8.7%; Supramax and Handysize Indexes gained 2.7% and 1.1% respectively. Iron ore stockpiles moved sharply lower, suggesting demand will be solid in near-term. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart 3. Baltic Dry Index Components Chart 4. […]
Baltic dry index rose 6.0% last week; Capesize Index was up 14.1%; Panamax Index rose 4.8%; Supramax and Handysize Indexes lost 5.5% and 1.2% respectively. China steel prices ticking up, bringing some demand to the shipping markets. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart 3. Baltic Dry Index Components […]
Baltic dry index fell 1.6% last week; Capesize Index fell 3.6%; Panamax Index fell also 3.6%; Supramax and Handysize Indexes gained 1.6% and 1.0% respectively. I added 3 new charts below. Iron ore and steel inventory (5 cities only, but I think it should work as a proxy) and iron ore price. The fundamentals are […]
Baltic dry index rose 11.7% last week; Capesize Index gained 11.5%; Panamax Index rose 7.9%; Supramax and Handysize Indexes gained 13.4% and 5.3% respectively. Chinese steel mills resumed with iron ore purchases. Indian ore exports have effectively stopped because of export tariffs / rain season / illegal mining inquiries so Indian ore is being substituted with Australian and Brazilian. With the twist of speculative euphoria and unwarranted […]
Baltic dry index rose 21.6% last week; Capesize Index gained 46.3%; Panamax Index rose 11.0%; Supramax and Handysize Indexes gained 4.7% and 4.1% respectively. Chinese steel mills resumed with iron ore purchases. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart 3. Baltic Dry Index Components
Baltic dry index rose 3.2% last week; Capesize Index gained 14.2%; Panamax Index fell -1.2%; Handysizes and Supramax Indexes gained -3.6% and -1.6% respectively. Positive recent developments: Russia grain export ban – increasing ton-mile relation; India imposing additional iron ore export tariffs – also increasing ton-mile relation; improved China steel prices and reduced China steel stockpiles. Negative recent developments: All time […]
Baltic dry index rose 7.7% last week; Capesize Index gained 12.5%; Panamax Index rose 11.4%; Supramax and Handysizes Indexes gained 0.9% and 3.3% respectively. Rates are rising a bit as some ship owners choose to anchor their ships rather than lose money on chartering them. Chinese iron ore and steel prices rose last week, bringing some optimism to the markets. […]
Baltic dry index rose 6.2% last week; Capesize Index gained 1.9%; Panamax Index rose 12.9%; Supramax and Handysizes Indexes gained 4.6% and 3.6% respectively. Commodore Research July 21, 2010: One of the most troubling signs in the Chinese economy at the moment is therecent (and relatively long-lasting) decline in steel prices. Steel prices have fallen consistently since theend […]
Floating at (a temporary) bottom… Chart 1. Baltic Dry Index
Not looking particularly strong… Chart 1. Baltic Dry Index
Baltic dry index fell 9.6% last week; The hardest hit were Capesizes with 20.3% loss; Supramaxes and Handysizes and lost 8.1% and 5.9%; Panamaxes gained 7.6%. Spot cargo demand fell last week, looks like everybody’s playing wait and see game. Nothing that could reverse the losses on the horizon. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. […]
And the slide is over… Chart 1. Baltic Dry Index
Down only 0.5%. Chart 1. Baltic Dry Index