Another update on how the various Baltic indices fared for the week ending on Friday, May 29.
Baltic Dry Index (BDI): +25.4%
Baltic Capesize Index (BCI): +41.0%
Baltic Panamax Index (BPI): +26.5%
Baltic Supramax Index (BSI): -0.3%
Baltic Handysize Index (BHSI) -0.6%
Baltic Dirty Tanker (BDTI): +0.4%
Baltic Clean Tanker (BCTI): -0.8%
Rates for the larger dry bulk vessels continue to climb rapidly. The Capesize index (BCI) increased 160% in the month of May. Our whole way of looking at the dry bulk stocks needs to change. Instead of looking for locked in time charter contracts, we need to be looking for companies that have tied up their vessels at too low of a rate on their time charters. Check your favorite stocks for recent charter rates and make sure they are not earning a way below market (and cost) rate on some vessels.
Tankers continue to languish at very low spot rates. The year-to-date return for the bulk carriers (+27%) is now over 20 percentage points ahead of the average of the tankers I follow. You need to decide whether to ride the wave with the bulkers or buy tankers in the trough. Tough call.
Baltic Indices for last week
Another update on how the various Baltic indices fared for the week ending on Friday, May 29.
Rates for the larger dry bulk vessels continue to climb rapidly. The Capesize index (BCI) increased 160% in the month of May. Our whole way of looking at the dry bulk stocks needs to change. Instead of looking for locked in time charter contracts, we need to be looking for companies that have tied up their vessels at too low of a rate on their time charters. Check your favorite stocks for recent charter rates and make sure they are not earning a way below market (and cost) rate on some vessels.
Tankers continue to languish at very low spot rates. The year-to-date return for the bulk carriers (+27%) is now over 20 percentage points ahead of the average of the tankers I follow. You need to decide whether to ride the wave with the bulkers or buy tankers in the trough. Tough call.