Here are how the Baltic indices fared last week with only 4 trading days. I am not sure why they take a holiday break when the Baltic Exchange is in England but they did. Or my source took Friday off so there was now update. Anyway here are the results, Monday thru Thursday:
Baltic Dry Index (BDI): -0.8%
Baltic Capesize Index (BCI): -3.6%
Baltic Panamax Index (BPI): +8.6%
Baltic Supramax Index (BSI): -1.4%
Baltic Handysize Index (BHSI): -1.8%
Baltic Dirty Tanker (BDTI): -12.3%
Baltic Clean Tanker (BCTI): -0.9%
Dry bulk was off again for the 3rd straight week, but not by much. Strength in the Panamax and Supramax rates show something besides iron ore needs to be shipped. The tumble in crude tanker rates is unpleasant to see. Rumors have OPEC countries cheating on production quotas with the higher oil prices but we still need the developed world to start using more energy.
Baltic Indices for Last Week
Here are how the Baltic indices fared last week with only 4 trading days. I am not sure why they take a holiday break when the Baltic Exchange is in England but they did. Or my source took Friday off so there was now update. Anyway here are the results, Monday thru Thursday:
Dry bulk was off again for the 3rd straight week, but not by much. Strength in the Panamax and Supramax rates show something besides iron ore needs to be shipped. The tumble in crude tanker rates is unpleasant to see. Rumors have OPEC countries cheating on production quotas with the higher oil prices but we still need the developed world to start using more energy.