The Baltic Exchange’s dry bulk sea freight index reversed six consecutive weekly declines on Friday with its best week in about four months. Panamax rates had their biggest weekly gain in over eight years, up for the seventh consecutive session over a three-week high. The 46.7% weekly gain its best since early July 2014. On the flip side the Capesize index posted a weekly loss of 8.3% following a 46% weekly fall last week. This was also its sixth consecutive … Continue reading “Baltic Dry Index Rises with Panamax Shipping Rates Biggest Weekly Gain in Eight Years”
Capesize Shipping Index Rose 78% for the Week on China Infrastructure Hopes
The Baltic Exchange’s dry bulk sea freight index on Friday had its best session in nearly six months. The move saw the BDI record a weekly gain of 0.4%, the first positive move after six consecutive weekly declines, bouncing off lows last seen in June 2020. Volatility is supreme, the capesize index after a 46% weekly fall, its worst in over two years last week reversed with a 78% weekly gain, its best since June 19, 2020, also reversing a … Continue reading “Capesize Shipping Index Rose 78% for the Week on China Infrastructure Hopes”
Baltic Dry and Capesize Index both Slide for a Six Consecutive Week as World Trade Stutters
The Baltic Exchange’s dry bulk sea freight index booked its sixth consecutive weekly decline as rates slid across all vessel segments, taking it to lows not seen since June 2020 on Friday. The capesize index fell its lowest since early June 2020 with a 46% weekly fall, its worst in over two years. This was also its sixth consecutive weekly fall. More negative news out of the Chinese ailing property sector, COVID-19 curbs, steel production cuts and tensions over Taiwan … Continue reading “Baltic Dry and Capesize Index both Slide for a Six Consecutive Week as World Trade Stutters”
Baltic Dry Index Slide Accelerates with Largest Capesize Rates Plunge Since COVID-19 Pandemic
The Baltic Exchange’s dry bulk sea freight index booked its fifth consecutive weekly decline as rates slid across most vessel segments, taking it to lows not seen since December 2020 on Friday. More negative news out of the Chinese ailing property sector, COVID-19 curbs, steel production cuts and tensions over Taiwan hamper shipping. The BDI index saw a weekly loss of 13.4% on the week. Capesize vessel rates saw their biggest daily plunge on Thursday since the onset of the … Continue reading “Baltic Dry Index Slide Accelerates with Largest Capesize Rates Plunge Since COVID-19 Pandemic”
Baltic Dry Index Slide Continues for Fourth Consecutive Week
The Baltic Exchange’s dry bulk sea freight index booked its fourth consecutive weekly decline as rates slid across vessel segments, taking it to another six-month low on Friday. Dalian and Singapore iron ore futures fell again as demand prospects in top steel producer China deepen with the Chinese ailing property sector, COVID-19 curbs, steel production cuts and tensions over Taiwan. The BDI index saw a weekly loss of 5.3% on the week, following last week’s nearly 18% fall. The BDI … Continue reading “Baltic Dry Index Slide Continues for Fourth Consecutive Week”
Sea Freight Rates Continue to Slide, BDI at Six Month Low as China Woes Mount
The Baltic Exchange’s dry bulk sea freight index booked its worst week in over two months, taking it to a six-month low on Friday. Rates across component vessel segments were down hard. China’s woes deepen with the Chinese ailing property sector, COVID-19 curbs, steel production cuts and tensions over Taiwan, which were heighten by US speaker’s visit there and China sending missiles into Japanese waters. The BDI index saw a weekly loss of nearly 18%. The BDI factors in rates … Continue reading “Sea Freight Rates Continue to Slide, BDI at Six Month Low as China Woes Mount”
Baltic Sea Freight Index Falls to Five Month Low Down 15.4% for July.
The Baltic Exchange’s dry bulk sea freight index booked its worst month since January on Friday with rates across component vessel segments down double digits for the month. The BDI factors in rates for capesize, panamax and supramax shipping vessels, fell 50 points Friday, or 2.6%, to 1,895 points, its lowest in over five months. The capesize index, which had been the relative bright spot by outweighing falls in other vessel segments, lost 109 points, or nearly 5%, to a … Continue reading “Baltic Sea Freight Index Falls to Five Month Low Down 15.4% for July.”
Australian ASX 200 Snaps Three Month Losing Streak in July with Aussie at Six Week High
The Australian share market broke a three-month losing streak with a 5.7% rise in July. The ASX 200 closed July on a seven-week high at 6945.2. Markets climbed a wall of worry in July with the worlds’ central banks raising rates as they fought to tighten against rising inflation. The month saw an onset of technical recession in the US, falling retail turnover reported by the ABS and Treasurer Jim Chalmer’s warning on Thursday of an economic slowdown. The Reserve … Continue reading “Australian ASX 200 Snaps Three Month Losing Streak in July with Aussie at Six Week High”
Baltic Sea Freight Index Rises as Capesize Rates Gain 29% for the Week on Iron Ore and Coal Demand
The Baltic Exchange’s dry bulk sea freight index rose 140 points Friday, or nearly 7%, at 2,150 points, its highest since July 4, rising 4% for the week. The BDI was helped by capesize rates outweighing falls in other vessel segments. The capesize index gained 29% for the week, rising 462 points, or 18.8%, to 2,919 points, its highest since June 20. Iron ore exports from Brazil and demand for coal from Colombia and South Africa in Europe have been … Continue reading “Baltic Sea Freight Index Rises as Capesize Rates Gain 29% for the Week on Iron Ore and Coal Demand”
Baltic Sea Freight Index 12.7% Decline for June, First Monthly Drop Since January
The Baltic Exchange’s dry bulk sea freight index rose 54 points, or nearly 2.5% to 2,240 points on the last day of June but still slid 12.7% for the month and fell 5% for the quarter. The BDI pressure came again from falling rates across smaller vessel segments. The capesize index fell 8.8% for the month but had a 38.3% quarterly gain. The panamax index was down for three consecutive months dropped 13.5% in June and down 20.9% for the … Continue reading “Baltic Sea Freight Index 12.7% Decline for June, First Monthly Drop Since January”