Global Macro Perspectives
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
As I wrote in Dry Bulk Weekly it appears that Chinese removal of steel export tax rebates is a complete game changer for the industry. The slowdown in Chinese iron ore imports is easing port congestion which tied approximately 20% of the world fleet a few weeks ago. The port congestion has since then eased by […]
Again down… Chart 1. Baltic Dry Index
Again down… Longest loosing streak in nine years. Chart 1. Baltic Dry Index
Baltic dry index fell 16.6% last week; The hardest hit were Panamaxes with 20.6% loss; Capesizes lost 20.0% ; Handysizes and Supramaxes lost 10.3% and 8.9%. Chinese tax rebates on hot-rolled coil and some cold-rolled coil and galvanized products will be removed starting July 15. This makes Chinese steel exports uncompetitive and it is moving the markets. Chinese steel […]
Again down… Brake-even for shipowners is around 2.200, so most of of the shipping companies are losing money at this levels. Chart 1. Baltic Dry Index