Global Macro Perspectives
Baltic dry index rose 0.1% last week. Capesize Index gains were offset by Panamax Index losses. Supramax and Handysize Index almost unchanged. Not much happening here also…Chinese buyers cutting back on iron ore import volumes thereby hurting capesize rates; Iron ore producers holding prices high. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic […]
Baltic dry index rose 3.3% last week. All index components ended in positive territory. Supramax Index outperformed the Baltic Dry Index while Capesize, Panamax and Handysize Index underperformed. In the last weekly I wrote on new-building deliveries which reached all-time record in firs quarter. In the second hand market we had 157 dry bulk vessels […]
Baltic dry index fell 2.6% last week. Panamax and Supramax Index ended in positive territory while Capesize and Handysize Index ended in negative territory. Chinese steel mills are quite unhappy with the new iron ore price setting mechanism and especially iron ore price. Their efforts are to substitute Brazilian and Australian iron ore with Indian […]
Baltic dry index fell 3.5% in the last week. Capesize Index outperformed and ended in positive territory while Panamax, Supramax and Handysize Index all underperformed and ended in negative territory. The increasing number of longer term time charters negotiated in recent weeks could be a sign what the vessel owners expect from the rates. As […]
In a sign of strength of iron ore demand iron ore producers and Asian Mills have ended 40 year old annual pricing system and moved to short term pricing. Bloomberg story: Vale, BHP End Annual Ore Talks; Vale Wins 90% Jump. Iron ore producers have managed to get Asian steel mills to agree that iron […]
Baltic dry index fell 8.3% in the last week. Handysize Index outperformed while Capesize, Panamax and Supramax Index all underperformed. The iron ore price fixing saga continues. Chinese steel mills have moved its iron ore sourcing from Brazil and partially Australia to India in an effort to pressure primarily Vale into iron ore price concessions. […]
Baltic dry index fell 3.6% in the last week due to massive 18.6% drop in Capesize Index. Panamax, Supramax and Handysize Index ended all in positive territory. The Capesize Index fell due to increased supply of available vessels which outnumbered the also increased number of cargoes needed to be transported and due to capsize/panamax substitution […]
Baltic dry index rose 8.1% in the last week. Capesize, Supramax and Handysize Index outperformed the BDI, Panamax Index underperformed. Rumors in the iron ore market continue; worlds largest iron ore producer Vale even thinking on abandoning yearly price fixing and selling iron ore on spot market. There is a great disparity between iron ore […]
Baltic dry index rose 18.4% in the last week. Rocket propelled lift-off. Capesize and Panamax Index outperformed the BDI, Supramax and Handysize Index underperformed. The Chinese buyers returned to the iron ore in a big way. Mayor factor here are iron ore price increase agreed in the annual price talks, the rumors range from 30% […]
Baltic dry index rose 0.9% in the last week. Capesize Index underperformed the BDI, Panamax Index, Supramax and Handysize Index outperformed. Nothing major on the news front. Improved activity in the Capesize, but the rates fell (probably because of falling iron ore/ final product price differential). Strong rates in smaller ship segments. Chart 1. Baltic […]
Baltic dry index rose 5.6% in the last week. Capesize Index outperformed the BDI, Panamax Index was in line, while Supramax and Handysize Index underperformed. The market action seems like a result of market participants fixing Capesize vessels in anticipation of China return to the markets after the this week New Year celebration and on […]
Baltic dry index fell 5.3% in the last week. Panamaxes outperformed the BDI, while Capesizes underperformed. For the time being dry freight weakness is due the slowdown of Chinese imports because of Chinese New Year and accompanying. This is also a reason for Capesize underperformance because this type of ships usually haul iron ore and […]