Baltic Indices for Last Week

Here is the weekly update on the previous week’s performance of the various Baltic Indices:

• Baltic Dry Index (BDI): -5.6%
• Baltic Capesize Index (BCI): -13.2%
• Baltic Panamax Index (BPI): +6.0%
• Baltic Supramax Index (BSI): +1.9%
• Baltic Handysize Index (BHSI): +4.3%
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• Baltic Dirty Tanker (BDTI): -1.0%
• Baltic Clean Tanker (BCTI): +3.5%

Here are the results of the corresponding stock indices, courtesy of Capital Link Shipping:

• CL Dry Bulk Index: +5.8%
• CL Tanker Index: +3.1%

There has been an interesting split in the dry bulk market. The capesize index reached 8,000 in early June, and with much volatility, is now about 5,100. The Panamax and Supramax indices have been climbing steadily for the last few weeks and are now at or above the recent peak in June. The BCI has a strong influence on the BDI and I think the rates for the smaller bulk vessels are doing much better than the overall Baltic Dry Index would indicate.  Tanker spot rates still suck.