A few days late, but here are the results from the various Baltic indices for last week:
Baltic Dry Index (BDI): +11.4%
Baltic Capesize Index (BCI): +12.9%
Baltic Panamax Index (BPI): +6.9%
Baltic Supramax Index (BSI): +15.6%
Baltic Handysize Index (BHSI) +8.6%
Baltic Dirty Tanker (BDTI): +8.3%
Baltic Clean Tanker (BCTI): +8.4%
The positive momentum of the previous few weeks came to a halt over the last few days of the week. It is nice to see the tanker rates take a turn to the positive. There are so many conflicting indicators in the shipping sector it is difficult to see how these indices can generate any direction. Will the Chinese and global economies start to pick up? How fast will new ships come into the market? Can the new builds be financed? How fast will older ships be scrapped? What effect will the 2010 ban on single-hull tankers have? Hopefully, the next 6 months or so will give us some clearer answers to these questions.
Baltic Indices for Last Week
A few days late, but here are the results from the various Baltic indices for last week:
The positive momentum of the previous few weeks came to a halt over the last few days of the week. It is nice to see the tanker rates take a turn to the positive. There are so many conflicting indicators in the shipping sector it is difficult to see how these indices can generate any direction. Will the Chinese and global economies start to pick up? How fast will new ships come into the market? Can the new builds be financed? How fast will older ships be scrapped? What effect will the 2010 ban on single-hull tankers have? Hopefully, the next 6 months or so will give us some clearer answers to these questions.