Baltic Dry Index Falls 3.9% To 1940
Another move to the downside. Chart 1. Baltic Dry Index
Posts Tagged ‘Dry Bulk’
Baltic Dry Index Falls 5.1% To 2018
It just keeps going lower….if it continues for a just a couple days it will look as a rerun of a BDI performance as recession started. And we all know what happened than… Chart 1. Baltic Dry Index
Chinese Steel Mills To Default On Quarterly Iron Ore Contracts
From Metal Bulletin: Quarterly, spot or swap — which iron ore contract to choose? Tom Albanese’s admission that Rio Tinto may abandon quarterly iron ore pricing, should the majority of steel mills default to the spot market, could benefit the emerging market for over-the-counter iron ore swaps. Macquarie Research believes third quarter contract prices will be […]
Dry Bulk Weekly – July 4, 2010
Baltic dry index fell 8.8% last week; The hardest hit were Panamaxes with 19.6% loss; Supramaxes lost 6.0% ; Handysizes and Capesizes lost 5.4% and 3.3% . It looks like the Baltic Dry Index was not bottoming last week after all. Panamaxes which were more stable sector than the Capsize sector played catchup and collapsed. That was not […]
China Scaling Back Steel Capacity Additions
Bloomberg story: Baosteel Scales Back Expansion Target by 38% as China Seeks Capacity Curbs. China, the biggest steelmaking nation, has pulled back from encouraging mills to get as large as global leader ArcelorMittal as it sought to shutter old plants, curb pollution and power demand. Chinese steelmakers are likely to cut output in the third […]
Dry Bulk Weekly – June 26, 2010
Baltic dry index fell 7.2% last week; The hardest hit, again, were Capesizes with 13.3% loss; Supramaxes and Handysizes lost 4.9% and 5.2%; Panamaxes gained 2.2% . It looks the baltic dry index is bottoming. The action was in the capesize sector, so Chinese iron ore demand is the game as a consequence of reduced steel margins . Panamax […]
Dry Bulk Weekly – June 21, 2010
Baltic dry index fell 18.1% last week; The hardest hit, again, were Capesizes with 26.7% loss. Panamaxes lost 11.3% ; Supramaxes and Handysizes lost 7.4% and 6.5%. China and Taiwan were on holiday from Monday to Wednesday, seasonal weakness and new-buildings hitting the markets all contributed to the dry freight rates falling. Will we have more than a seasonal weakness remains to […]
Dry Bulk Weekly – June 14, 2010
Baltic dry index fell 14.5% last week; The hardest hit were Capesizes with 16.3% loss and Panamaxes with 13.3% loss; Supramaxes and Handysizes lost 12.1% and 6.5%. Platou Markets: Chinese iron ore imports fell to 51.9 mt in May from 55.3 mt in April. After being up 11.7% for the first four months of the year, […]
John Fredriksen Interview In Financial Times
Financial Times Links: Fredriksen explores other waters; Fredriksen poised to swoop on ailing groups. Probably most famous shipping tycoon shares his views on market outlook. Mr. Fredriksen famous on building Frontline, world largest tanker company, sold most of his shipping assets (currently he holds only stakes in Frontline (Tanker), Golden Destiny (dry bulk) and Golar […]
Dry Bulk Weekly – June 6, 2010
Baltic dry index fell 5.7% last week; The hardest hit sectors was Panamaxes with 8.7% loss and Supramaxes with 8.1% loss; Capesizes and Handysizes lost 2.1% and 3.5%. Expectations running high, stockpiles high, financial crisis threatening to cause a economic crisis. Iron ore prices sliding. It looks the things are slowing down in China. On the other hand ship prises rose […]
Dry Bulk Weekly – May 31, 2010
Baltic dry index rose 6.1% last week, again Capesizes giving the direction with 20.8% gain. Panamax, Supramax and Handysize Index all recorded losses and underperformed the broader index. China Iron ore stockpiles again rising, Capesize rates probably fueled by coming India rain season which makes iron ore exports virtually impossible, so buyers have to turn […]
Dry Bulk Weekly – May 23, 2010
Baltic dry index fell 2.2% last week, this time on the back of 10.1% Capesize Index loss. Panamax, Supramax and Handysize Index all recorded gains and outperformed the broader index. We had weaker spot iron ore prices, weaker China steel prices and higher iron ore and thermal coal stockpiles. Capesize activity decreased in the recent […]
Dry Bulk Weekly – May 17, 2010
Another strong week for dry freight. Baltic dry index rose 8.9% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index suggesting that iron ore is the game. On the positive side we have China steel inventory coming off, decreased China […]
Dry Bulk Weekly – May 9, 2010
Baltic dry index rose 7.6% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index. Strong iron ore demand from China is fueling the gains. If financial turmoil continues, the gains will be hard to hold on. Chart 1. Baltic Dry […]
Dry Bulk Weekly – May 3, 2010
Baltic dry index rose 11.3% last week on the back of 21.6% Capesize Index gain. Panamax, Supramax and Handysize Index recorded minor gains. Capsize rate rose 20% in a single day. Two things could have played a role here: securing a contract ahead of Labor day holidays in China and/or limited capesize vessel availability due […]