Once again, here are how the various Baltic indices fared for the week ending 26 June 2009.
- Baltic Dry Index (BDI): -9.0%
- Baltic Capesize Index (BCI): -11.1%
- Baltic Panamax Index (BPI): -9.9%
- Baltic Supramax Index (BSI): -0.9%
- Baltic Handysize Index (BHSI): -2.1%
- Baltic Dirty Tanker (BDTI): -4.2%
- Baltic Clean Tanker (BCTI): -5.2%
Shipping rates fell across the board for the week, but the declines were relatively small compared to the runup of the previous weeks. Just do not make this the start of a trend. BCI finished the week on a positive note and the largest class of bulk carriers are still earning better than $70k per day.
More on this topic
(What's this?)
Bit of technical positive divergence may help equities indices bounce near-term
(UnBiasedTrading (TM), 2/6/10)
The Baltic Dry Index: A Solid Gauge of Global Economic Health
(Investment U, 10/13/09)
As the Oil Contango Unwinds… Here’s How To Profit From Shipping Rates
(Investment U, 1/14/10)
One Comment
Here is an interesting comment by the President of Diana Shipping:
“It would be the first V-shaped recession in shipping in living memory,” Margaronis said at the St. Regis Hotel. “Now, over the next three quarters we will have to cope with the effects of the shipping cycle, per se. The real shipping cycle.”
So could we see the low prices of these shippers for a while now?
I got the article from The Street