The Baltic Exchange Dry Index slipped by 7.6% to 1,873 on Thursday, its lowest since early March 2021, extending losses for a fifth straight session, amid weaker seasonal demand across all vessel segments. "The New Year starts with some degree of uncertainty, not only related to the Indonesian coal export ban but also concerning the impacts of the heavy rains in Brazil," shipbroker Fearnleys said. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, plunged 16.7% to 1,746, its biggest daily decline in four weeks; and the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and grains, fell 4.4% to its lowest since December 22 at 2,452. Among smaller vessels, the supramax index decreased 21 points to its lowest level since April at 1,915. source: Baltic Exchange
The Baltic Exchange Dry Index advanced 13.4% to 1,940 on Thursday, its highest since January 12th, extending gains for a third straight session, amid strong demand across all vessels segments. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, jumped 26.7% to 1,904. "Most of the prompt tonnage that has been heading towards the South Atlantic is now covered. This together with more fresh cargo has changed the sentiment and boosted the index. However, the most interesting this week has been the significant increase in period demand and the willingness to pay up. For the coming week it looks very promising.", shipbroker Fearnleys said, referring to the capesize segment. At the same time, the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and grains, rose 8.4% to 2,333; The Panamax is now higher than its brief 2019 peak & in a strong rising trend.
Iron ore is up 53% from its Nov '21 low, Steel is up 20% fr its low while Coal is up 75% fr its low. Demand for Panamax & Handysize ships is gonna surge! Capesize will continue to capsize but fortunately....=)
No exceptional gains so operating profit was 31,895 mil. Fair value $1.30 if BDI continues to recover...Panamax now @ 2,596...higher than Nov, Dec & Feb lows(2,280;2,300 & 1,750 respectively) & @ the highest since Sep 2010.
The Baltic Exchange Dry Index advanced 4.5% to 2,244 on Wednesday, its highest level since January 10th, extending gains for a fourth straight session, supported by gains in rates across all its vessel segments. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, jumped almost 9% to 2,192, its highest level since January 11th; and the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and grains, increased 103 points to 2,699. Among smaller vessels, the supramax index went up 29 points to 2,388.
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