I have received several inquiries regarding the recent divergence between the BDI and my dry bulk shipping index (DBSI), and thought I should touch on the subject. First and foremost I believe that a large portion of the divergence can be explained as a US dollar story. Also, recent weakness has been mostly isolated to […]
Archive:
Capesize
A potential record US harvest could help buoy rates for small to mid-size ship rates. What was a relatively mild and wet spring and summer has created conditions for what is setting up to be one of the nation’s biggest harvests. The U.S. Department of Agriculture is projecting a total corn crop of 12.954bn bushels, […]
The Baltic Exchange’s Baltic Dry Index (BDI) rose by 0.6% today, reaching its highest level since 8/24. But, these gains have come on continued weakness in the Capesize sector where rates have fallen for eight consecutive days, losing an additional 2.1% this morning. Rates on smaller vessels, especially panamax, have fared much better over recent […]
Capesize rates have come under considerable pressure over the past week with forward contracts losing roughly 14% of their value over concerns on industry fundamentals. Despite what has already been 5 consecutive days of declines for capesize rates, industry experts believe this week could bring even more downward pressure. According to Lloyd’s List, a leading […]