Friday, January 19, 2018

Shipping: "Baltic index falls, capesizes post biggest weekly drop in 2 years"

Following up on Wednesday's "Shipping: Today's Word Is 'Overcapacity'".
From Reuters, Jan:
The Baltic Exchange’s main sea freight index fell on Friday and continued to linger around five month lows as the capesize segment recorded its biggest weekly percentage decline in two years.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, shed 14 points, or 1.23 percent, to 1,125 points, the lowest since Aug. 10, 2017.

* For the week, the index ended 12 percent lower.

* The capesize index fell 118 points, or 7.32 percent, to 1,493 points, its lowest since Aug. 2.

* It fell about 35 percent this week, its biggest weekly percentage decline since Jan. 15, 2016.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $741 to $11,571....

PreviouslyJan. 4
Global Fleet Capacity to Bulge as More Containerships are Delivered in 2018; Baltic Dry Index Down 21%, Hyundi Heavy Up
I'm going to have to learn how to say "Boom-and-bust cycle" in Korean..... 

Dec. 4 
"Shipping Magnates Shock Industry With Huge Orders"