Global Macro Perspectives
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…
I’ll interrupt my blogging silence with a short update on markets. Usual service continues as scheduled on Monday.
Looks we have trading themes reversing course.
Market summary: Shanghai down; U.S. Dollar up; PIGS spreads record wide…
(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. […]
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 […]
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 […]
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. […]
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 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 […]
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 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 […]