Baltic Dry Index(BDI) & Global Trade: July 31, 2010 - The Dutch Labour Statistics, Container ship utilization and the Baltic Dry Index confirm that global trade is picking up and perhaps even strong. a positive sign for the global economy and markets. However today(Aug 2) there is some concern that demand may be soft. Lets keep an eye on it.

April 24, 2011 - Dry bulk market keeps falling, now at two-month lows - The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer cargoes. The industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,254 points prior to Easter holidays, down by 0.63%, now standing at new lows. The Capesize market was lull remaining unchanged, with the biggest losses occurred in the Panamax segment, which retreated by 2.69%.

April 18, 2011 - Handysize Rates to Buck Dry-Bulk Slump on China, Japan, STX Pan Ocean Says - Rents for handysize vessels, which transport mostly logs and other commodities such as grains and sugar, may advance as imports of wood by China and Japan are likely to increase, according to STX Pan Ocean Co.“Handysize rates may climb by at least 10 percent from current levels once Japan’s rebuilding work gets under way” after the March 11 record quake, Lee Sang Jae, head of the Oceania team at South Korea’s biggest bulk carrier, said yesterday. He didn’t give a precise price forecast.
The Baltic Dry Index, the main measure of commodity shipping costs, has tumbled 56 percent in the past year as the global fleet expands. Rates for capesize, the largest type of vessel tracked by the gauge, plunged 65 percent this year, while handysizes declined about 3 percent.

April 15, 2011 - Dry bulk market keeps on falling, on low demand and high supply - The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterday to end the session down to 1,309 points, a daily slump of 1.13%. On the positive side, the Capesize market stopped this fall, to end the session marginally higher at 0.19 percent to 1,573 points. At the same time, the constant fall of the panamax sector finally led rates lower than Capesizes. Since the beginning of the year, Panamaxes had been the top earners of the dry bulk market, in a sector’s paradox that tended to become the norm. Yesterday, the panamax segment lost further ground to end down by 2.40 percent.

April 10, 2011 - Natural disasters in Japan still impacts the shipping markets - It’s been 4 weeks since the 11th March earthquake and tsunami hit Japan north-eastern coastline and caused widespread damages with extensive knock-on effects on the Japanese economy. The aftermath of the 9-magnitude quake is still affecting everyday life in Japan and the shipping markets are still only feeling the immediate effects of the changes in demand primarily focusing on getting energy supply up and running at normal level again

April 2, 2011 - Dry bulk market weakens on slower demand, hopes for mid-term rebound on Japan’s reconstruction - The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 points, down by 0.97 percent. The main losing segment was the Panamax one with falls of 2.28 percent, while the Capesize market was on the upside, gaining 0.68 percent. As it turns out, for the time being, the disaster in Japan and especially the danger of radiation has hit trade activity, limiting cargoes to and from Japan. The country is a strong importer of dry bulk commodities, such as coal and iron ore.

March 31, 2011 - Fearnleys Week 13 2011 - So far about 57 VLCC fixtures are concluded for April ex MEG and charterers are now seriously embarking on the second half of the month,though in a leisurely manner. The MEG position list looks more than sufficient to cover the remaining April stems ex MEG and no shift in recent weak trend should be expected.

March 29, 2011 - Japan factor rippling through the shipping markets - With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck the country in the local economy, the shipping sector has also been greatly affected. Every day that goes by things become even more clearer as to the repercussions the Japan crisis will bring to the shipping industry. Last week ended with Capesize rates averaging $ 10,718/day, an increase of $1,349 (14.4%) from a week ago. Panamax rates are averaging $16,693/day, a decrease of $ 28 (0.76%). Supramax rates are averaging $16,762/day, an increase of $304(1.84%). Handysize rates are averaging $11,704/day, an increase of $393(3.47%). The BDI remained unchanged on Monday to 1,585 points, which is still up by 3.5% on a weekly basis, but 50% down from the same week of the previous year.

March 25, 2011 - Tankers trying to find their footings in the aftermath of Japan’s disaster - Tanker owners are trying to figure out how to employ their vessels, with disruptions in normal crude and product trades now being the norm. On one hand there’s the recent devastation and nuclear crisis in Japan, which has severely affected a large portion of global trade and on the other hand there’s the Libyan and Middle Eastern crises, which have been impacting crude flows in those routes as well.

March 24, 2011 - Dry bulk market rises, capesizes gain but remain low-earners - The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains of 3.12 percent in the Capesize market. It was the second day of gains for the market, on the aftermath of the devastation in Japan, which is still expected to impact the market, both in a positive way and in a negative way, depending on the type of trade

March 22, 2011 - Dry bulk new building orders fall for yet another week, container ships booming - The newbuilding market is heading towards different directions as evidenced by the past week’s data and orders reported. On one hand there’s the falling interest from dry bulk ship owners, whose demand for new buildings seems to be – finally – waning.

March 21, 2011 - Attractive prices lure ship owners towards scrap yards - The dreadful state of the dry bulk market during the first couple of months of 2011, coupled with attractive prices have finally persuaded many ship owners, especially from the dry bulk segment of the market, to scrap their older vessels, in what could be a life-saving opportunity for many shipping companies.

March 20, 2011 - Shipping Poised to Drop After Two-Week Rally: Freight Markets - The rebound that more than doubled commodity freight costs in two weeks is peaking as idled ships haul anchor and compete for cargoes of iron ore and coal.

March 12, 2011 - Bunker prices causing headaches to ship owners - Ship owners, especially tanker owners have one more thing to worry about in today’s highly risky market conditions, the huge increase of bunker prices, which has come as a result of the recent turmoil in the Middle East. Since the beginning of the year, worldwide bunker prices have risen 22% in step with increasing crude prices.

MArch 10, 2011 - Dry bulk market showing signs of stronger recovery - The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels not seen in weeks. The recovery was led by the Capesize market, which burst forward by an impressive 6.52%, with the Baltic Capesize Index reaching 1,699 points, finally surpassing the relative earnings of the much smaller in size Supramax ship type (1,512 points).

March 9, 2011 - Piracy a growing concern for global maritime industry: Is going round the Cape of Good hope a viable solution? - Piracy has been escalating, now posing an ever so serious threat to the global maritime community, as all international efforts to curb the problem have failed. According to a new report from BIMCO, “what started out as a few sporadic attacks in the Gulf of Aden some years ago has now developed into “industrial piracy”. The pirates are no longer sailing around in skiffs only, they utilize “mother ships” from which they launch their attacks and in some cases they even use a hijacked commercial vessel as “mother ship”.

March 8, 2011 - Ship owners avoid second hand ship purchases on increased market concern - The past few weeks have been market by the virtual absence of Hellenic ship owners from the second hand market, for all types of vessels, with just a handful of new building orders being reported as well.

March 5, 2011 - WeberSeas Weekly Market Report Week 09 - The dry market found good support this week and all indices rose. The BCI and BPI rose 8.5% and 9.5% respectively. The supramax market continued its positive tone adding nearly 6% whilst the less volatile handy market rose over 2%.

March 5, 2011 - Shipyards are still taking newbuilding orders at full pace with container shipping in focus - Maersk’s mega order with Daewoo for 10 (plus 20 as option) 18,000-TEU vessels sealed last week with a hefty multi billion dollar tag, has stirred things up in the container segment of the market, with competitors already planning their move as well. This is good news for shipyards able to cater to such ships, especially yards in South Korea, while China is now the place to be for dry bulk carriers and slowly but steadily tankers as well.

March 3, 2011 - Dry bulk market keeps gains, but demand seen modest say analysts - The dry bulk market has been on the upside so far into the week, with the Baltic Dry Index (BDI) rising once more yesterday to reach 1,281 points, up by 1.51% on the day. The leader of the day, in terms of gains, was the “forgotten” Capesize market, which was up by 1.75%, but still lagging from both the Supramax and the Panamax segments.

March 1, 2011 - Mixed fortunes for dry bulk owners this week - Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled as to what their next move should be in such a fluid market environment. Still, the industry’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, ending the session up by 0.88% to 1.262 points

February 26, 2011 - China could fund as much as $10 billion of ship acquisitions by Hellenic ship owners - In yet another landmark arrangement between the two nations, Hellas and China agreed this week to further enhance their already close partnership in the maritime field and in particular in the areas of port construction, shipping and marine technology.

February 25, 2011 - Suezmax tanker looking good in the coming months says broker - A new report from London-based shipbroker Gibson said that the Suezmax market could experience a firm rise in earnings over the next few weeks. With the tightening supply of VLCC tonnage in the Atlantic and growing resistance by charterers to rocketing VLCC rates, it is the best time for Suezmax owners to join the party.

February 24, 2011 - Dry bulk market keeps losing ground, capesizes suffering - The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session down by 2.03% to 1,253 points. As has been the established trend so far this week, the bigger ships have been taking the biggest toll, with Capesizes losing 3.24 percent on the day to just 1,345 points (Baltic Capesize Index), with daily rates still below break-even point, while the Panamaxes have also seen thin demand, with the Baltic Panamax Index retreating yesterday by 3.86% to 1,845 points, which is still way above the capesize segment, in yet another odd signs of the current times.

February 23, 2011 - Dry bulk market back on retreat mode - The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing further ground yesterday to end at 1,279 points, a fall of 1.24% on the day. The larger vessels,

February 22, 2011 - Hellas: Ship owners absent from ship investing in the past week - Despite the positve comeback of dry bulk freight rates, as evidenced by the course of the Baltic Dry Index, Hellenic ship owners have been absent from the new building, as well as the secondhand vessel markets this past week. still, the week ended with 20 sales reported in the secondhand, as well as the demolition market, but this, according to Golden Destiny’s weekly report, suggest a 125% negative weekly change, with the overall market sentiment for bulk and tanker sector being in the doldrums, except for containers.

February 19, 2011 - Dry Bulk Fleet expansion accelerates - The expansion of the dry bulk fleet in January was at an annual rate above 100 Mdwt for the year. There remains a scheduled 127 Mdwt still to be delivered but of course slippage and scrappings will intervene to reduce the net total. Nonetheless the scrapping of five Capes in January is a sign for owners that it is possible that the expansion of the fleet may not be as rapid as the paper schedule dictates as in the whole of 2010, for example, just 15 Capes were scrapped.

February 17, 2011 - Dry bulk: Tonnage oversupply to “choke” freight rates in the coming months says BIMCO - In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depressed in the coming months, with supply-side pressure being the dominant factor in the fundamental supply-demand equation.

February 16, 2011 - Crude tanker fleet to grow by 8.7% in 2011 says BIMCO - In its latest analysis, BIMCO predicts that the crude tanker fleet growth will reach an estimated 8.7%, with the largest inflow expected to occur in the VLCC segment. As fleet growth is expected to be strong also in 2012, supply side pressure on the freight markets seems inevitable. The report also mentions that the active crude oil tanker fleet has grown by 0.7% so far in 2011, caused by deliveries of 3.6 million DWT in the form of 17 newbuildings delivered, with 5 vessels being demolished.

February 15, 2011 - Dry bulk: Tonnage oversupply to “choke” freight rates in the coming months says BIMCO - In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depressed in the coming months, with supply-side pressure being the dominant factor in the fundamental supply-demand equation.

February 14, 2011 - Dry-Bulk Freight Rates May Rebound, Deutsche Bank Says - Rates to haul coal, iron ore and other dry-bulk commodities may be set to rebound as activity quickens after a weeklong holiday in China, Deutsche Bank AG said. The Baltic Dry Index of commodity-shipping costs gained 13 percent this week, the most since August, to 1,178 points after sliding on Feb. 4 to the lowest level since January 2009. It’s still down 34 percent this year.

February 12, 2011 - Has The Baltic Index Gone Dry? - The Baltic Dry Index is an index of freight rates charged by the owners of the massive bulk carriers which traverse the world's oceans with “dry” cargoes such as coal, iron ore and wheat. The ships include the Panamax, which carries coal from eastern Australia and the larger Capesize, which carries iron ore from Western Australia and Brazil.

February 11, 2011 - Dry bulk market heating up on fresh cargo demand - The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advantage of the improved conditions.

February 10, 2011 - Newbuilding orders could resume on China’s return from holidays - With the dry bulk market finally picking up speed after a long, arduous journey downwards, dry bulk ship owners are expected to come back to the newbuildings’ market, but not with the same vigor as before

February 9, 2011 - Improved market conditions to help ship acquisitions - With shipping bearing little to no impact from the recent turmoil in Egypt and the Baltic Dry Index (BDI) finally picking up some steam on improved market conditions, shipbrokers are expecting more ship acquistion deals to come through.

February 8, 2011 - Dry bulk: Is the tide turning? - n what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) posted its first rise since the middle of January, inching forwards by a mere 0.19% to 1,045 points. The main reason for this development was the rapid recovery of the Panamax market segment, with the relative Panamax Index rising by 3.49%. By contrast, sentiment in the Capesize front was still negative, moving down by 1.39%, which means that average capesize earnings are back again to lower grounds, compared to their smaller counterparts (Panamaxes).

February 7, 2011 - Baltic index falls, panamax cargo demand eyed - The Baltic Exchange's main sea freight indexI, which tracks rates to ship dry commodities, edged lower on Friday, while earnings for the panamax segment rose due to expectations of firmer trade. The index fell just 0.19 percent, or 2 points, to 1,043 points, staying at its lowest since Jan. 29, 2009. It tracks the cost of shipping key commodities such as iron ore, cement, grain, coal and fertiliser. Brokers said activity was subdued due to China's Lunar New Year holiday, which ends next week.

February 5, 2011- WeberSeas Weekly Market Report Week 05 - As expected, with the Chinese Lunar holidays in full swing, the market remained relatively quiet. Whilst all the indices (with the exception of the BPI which practically remained unchanged) ended lower for the week, the BCI and BPI made a marginal

February 4, 2011 - Egypt unrest and its impact on the tanker market - The latest political turmoil in Egypt, which seems to have taken a turn for the worse during the past couple of days has created much concern amid the shipping industry and in particular the tanker market. With crude tanker owners facing a recessed market and high levels of fleet growth, the potential of a closure of the Suez Canal and the parallel Sumed Pipeline, fuelled listed tanker shares in recent days, as a result of the possible implication for tanker earnings.

February 3, 2011 - Dry bulk market looks set to bottom out - With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bottom has almost been reached. The combination of devastating floods in Queensland, the richest coal producing province of Australia and in fact globally and the looming closure of China’s factories for the celebration of the new Lunar Year,

February 2, 2011 - Huge tonnage oversupply looming for dry bulk market - With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvious that at least until the Chinese market reopens in a couple of weeks (when the Lunar Year Holidays end), things won’t be much different. Yesterday, it was the Supramax’s sector turn to post the most losses, with the relative Baltic Exchange’s Index, the BSI losing 2.46%.

February 1, 2011 - Ship owners unfazed by market tumble, keep placing newbuilding orders - With the dry bulk market at a two-year low at just 1,107 points, after losing an additional 2.64% at the beginning of the new week, one would expect that ship owners would have scaled back on their new building investment programmes. But, as one can clearly see by checking the latest ship brokers’ reports, this isn’t the case, not even by miles. According to Golden Destiny,

January 31, 2011 - Oversupply to reign in on dry bulk market during 2011 - In an interview with Hellenic Shipping News Worldwide, BIMCO’s shipping analyst, Peter Sand, describes the “hardships” expected to reign in on the dry bulk market this year, as tonnage oversupply will definitely keep rates down, especially for the larger Capesize vessels.

January 28, 2011 - Dry bulk market closing in towards “crisis” levels - The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic Dry Index, is ending yet another week of violent falls, with yesterday’s session bringing the market down to just 1,186 points, losing an additional 3.89% on a daily basis.

January 27, 2011 - Containership orderbook is down by 21% on year - A new research from BIMCO’s shipping analyst, Peter Sand said yesterday that the total containership orderbook has fallen by 1 million TEUs, or 21% from 4.9 million TEUs this time last year to 3.9 million TEUs today. In total, 2010 saw the deliveries of 1.3 million TEUs of vessels, which coupled with sluggish new building ordering activity has helped reduce the outstanding orderbook.

January 26, 2011 - Dry bulk market takes yet another nosedive, Capesizes look rather unattractive at the moment - The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had passed. As it turned out yesterday, it hadn’t. The industry’s benchmark, the Baltic Dry Index lost another 3.94% to reach 1,292 points, with the Capesize segment losing 3.05%.

January 25, 2011 - Baltic index down, but steel demand may lift rates - The Baltic Exchange's main sea freight index fell to its lowest level since early 2009 on Monday as the market struggled with oversupply, but record steel production is lifting the outlook, traders said. The Baltic Dry Index (BDI), which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 1.82 percent, or 25 points, to 1,345 points and was at its lowest since Feb. 4, 2009.
The BDI's largest component, the capesize index, was down nearly 1 percent and 15 points to 1,541 points.

January 24, 2011 - Dry bulk market’s downturn sees no relief - The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79% this past week, to reach 1,370 points, thus falling below the 1,400-point mark and reaching its lowest level since early February of 2009. Since the beginning of New Year the BDI has plunged by 17.7% and is down by 56% from January 2010. As it turns out, the panamax segment suffered the most this week, while Supramaxes and Handysizes reversed their falls and turned positive.

January 22, 2011- Better earnings for smaller-sized tankers says OPEC’s report - Smaller tanker sizes, mainly Aframaxes and Suezmaxes benefited from the start of the winter season during the month of December, as freight rates were up by 17% for the Suezmax and an additional 22% for the Aframax markets. According to the latest monthly report from OPEC, the Organization’s spot chartering increased by 13% in December compared to the previous month to reach 14.68 mb/d, according to preliminary data.

January 21, 2011 - Shipowners pondering on placing more new building orders or adopting “wait-and-see” approach - With the Dry Bulk Index (BDI) losing more than 20% of its value from the start of 2011, it only seems reasonable, that the once bullish stance that many ship owners had for the dry bulk market’s prospects at least from 2012 onwards, seems to be losing faithful supporters. The industry’s benchmark closed yesterday further down by 1.28% to just 1,393 points and is now at the lowest in two years.

January 20, 2011 - Dry bulk market’s fall sees no end - Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index (BDI) kept falling mid-week, ending Wednesday’s session down by 1.47% to 1,411 points, the lowest it’s been since late of 2008, amid the global financial meltdown. As has been the case since the beginning the year, smaller ship types fared better than their large counterparts. Capesizes retreated yet again, this time by 0.88% very close to break-even levels, while panamaxes ended the day down by 3.48%.

January 19, 2011 - World shipping fleet grows by 10.1% in deadweight tonnage during 2010 - According to a new research from N.Cotzias Shipping Group, the world’s shipping fleet in service has grown by 10.1% in terms of carrying capacity, and amounts 1.39 billion tones compared to 1.26 billion tones in 2009. The largest year on year increase was evidenced in the dry bulk sector with a 15.6% increase which has pushed the dry bulk carrying capacity to 623mil tons compared to 539 million tons in 2009.
January 18, 2011 - Dry bulk market has bottomed out, as weather in Australia dials down - The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index (BDI) has stayed lull at 1,439 points the lowest it’s been since April of 2009 and October of 2008. Still, yesterday, the capesize index lost an additional 0.31%, while the Panamax segment fell by 1.87 percent. The only “survivor” of the market was the smalle handysize segment which yesterday gained 1.05%.

January 17, 2011 - Dry Bulk Fleet developments in 2010 - The dry bulk fleet expanded rapidly in 2010. After allowing for scrappings, conversions, sinkings and other removals there was a net growth of 830 ships amounting to an additional 77 Mdwt. In terms of deadweight this was an expansion of an unprecedented 17.7% or 12.7% in terms of numbers of ships.

January 15, 2011 - Baltic index slides further, capesizes at 2-yr low - The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, fell to its lowest in nearly two years on Friday as a glut of vessels available for hire swamped the market.

January 14, 2011 - Ship owners postpone decisions on new building orders after dry bulk rates head south - With heavy tonnage supply already plaguing the dry bulk market and the recent devastation in Australia’s Queensland expected to negatively affect freight rates for the months to come, demand for newbuilding orders seems to have been finally retreated, at least until owners evaluate this new state of the market.

January 13, 2011 - Dry bulk rates hit new multi-month lows on Australia’s floods - Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry bulk carriers to new multi-month lows. As a result, the Baltic Dry Index fell further yesterday to just 1,453 points, losing 1.82% on the day, while the suffering Capesize segment retreated by a further 4.77%.

January 12, 2011 - Bulker deliveries weighing in on freight rates keeping sentiment on a negative mode - A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With rates now closing in to $10,000/day for a capesize, it’s just a matter of time before some owners at least begin considering even the option of layoffs,

January 11, 2011 - Dry bulk market reaches new lows - The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the past week, which marked one of the fastest tumbling ones for freight rates in a long time. Yesterday, the BDI lost 1.58% to end the session down to 1,495 points, the lowest in almost two years.

January 10, 2011 - A weak economical recovery and flurry of new ships to dampen shipping rates in 2011 - As 2010 ended, concerns about most shipping industry’s segments began mounting with evidence of a weak economical recovery further deteriorating hopes of a swift recovery of freight rates. According to BIMCO’s newest analysis from Peter Sand, global recovery is now appearing to be losing momentum, as the macroeconomic drivers behind the economic recovery,

January 8, 2011 - WeberSeas Weekly Market Report Week 01 - The last time we published the market indieces was just before Christmas and up to today we are seeing a continued coreection in the capesize market with the BCI coming off 20%,

January 7, 2011 - Dry bulk market on a freefall, as the New Year early days don’t bring many cheers - The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% fall on Wednesday. Except Panamaxes which managed to post some gains of 3.18%. Just yesterday, the benchmark Capesize segment lost a whopping 8.14%.

January 6, 2011 - Container spot rates reach milestone point - After almost six months or 25 straight weeks of falls, container spot rates out of Shanghai managed to put a halt and increase as 2010 came to an end. According to the Shanghai Containerized Freight Index, rates were upwards for all destinations, including the main trading lanes to Europe and US West Coast. Following a 29% drop on average spot rates, the index rose 4% during the 52nd week of 2010.

January 5, 2011 - Dry bulk market begins new year on sour note - Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk market on a downward trend, with the industry’s benchmark, the Baltic Dry Index (BDI) beginning the year exactly like it ended. The BDI was down yesterday by 80 points to reach 1,693 points, among the lowest it’s been since 2009.

January 4, 2011 - Dry bulk market to range between 1,700 and 2,600 points in the first quarter of 2011, analysts say - As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bulk market’s behavior this year. Those who will succeed may benefit in their business. A recent poll of analysts provided some insight as to where the industry’s benchmark will range during the first quarter of 2011. According to them, the BDI will range from 1,700 to 2,600, with an average of 2,118 points. They also said that Capesize rates will average $26,000/day (range of $20,000 to $35,600), while for Panamaxes the average daily rate is deemed to be $20,000 (low of $15,000 and high of $23,100).

January 3, 2011 - Hellas: Shipowners regain global No1 position in secondhand vessel acquistions - The increase of ship financing coupled with lower ship prices resulted in a busy year in terms of second hand vessel acquisitions. So, after a one year break during 2009, Hellenic ship owners regained the number 1 status of ship investors, surpassing their Chinese counterparts,

January 1, 2011 - Shipowners renew fleets, increase profit margins getting ready for 2011 - In a year that could easily be dubbed as the “era of ship investment” ship owners across the board moved to take advantage of lower prices and a healthy freight market (although with many ups and downs). Improved financing conditions meant that owners could access more funds, thus moving forward with their investment plans.

December 30, 2010 - Dry bulk market stays subdued at the end of 2010 - The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand, the market’s retreat to well under 2,000-point levels can be seen as a good sign since the new year will begin on a low end, leaving enough room for growth during the following months. On the other hand, one can’t ignore the fact that a flurry of newbuildings have been “choking” the market in recent months, not letting freight rates increase despite healthy demand, apart from seasonal situations.

December 29, 2010 - Ship scrapping could swing into the foray during the first weeks of 2011 - As the dry bulk market is looking to end the year on a low note, in fact the lowest in almost a year, ship owners could very well be looking to offload their older carriers to scrapyards around the world. With scrap prices holding firm and buying interest still remaining high, it seems that the wise thing to do right now would be to sell some of the older carriers for demolition.

December 28, 2010 - Festive season puts a lid on ship acquisitions - The holiday season has affected the overall turnover of ship acquistions deals prior to Christmas with the current week not expected to exhibit any different signs. According to a weekly report from Piraeus-based shipbroker Golden Destiny, last week was marked by a slow pace of overall sale & purchase activity, with the shipbuilding industry accounting for 46% of the total deals reported, while after weeks of stalling, the demolition market is also picking up its pace

December 27, 2010 - Dry bulk carriers orderbook remains unchanged in 2010 despite flurry of newbuildings delivered - Despite 2010 being a record year in terms of dry bulk newbuilding deliveries, as of the end of the year, the orderbook has remained at the same amazing levels of a year ago. According to a report from BIMCO’s shipping analyst Peter Sand, the current orderbook totals at 277 million dwt, 1 million dwt more...

December 24, 2010 - Dry bulk owners could soon reconsider scrapping older vessels - With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bid to relieve part of the market’s oversupply of vessels. Yesterday, the Baltic Dry Index lost further ground to end the session down by 1.91 percent to 1,795 points, weighed down once again by the ailing capesize segment, which lost an additional 2.5 percent.

December 23, 2010 - Baltic index at near 5-month low, activity slow - The Baltic Exchange’s main sea freight index .BADI, which tracks rates to ship dry commodities, fell to its lowest in almost five months on Wednesday as weather disruptions continue to hamper activity.
The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 2.97 percent, or 56 points, to 1,830 points and was at its lowest since July 23. It has fallen over 15 percent and for 12 straight sessions since first dropping on Dec. 7.

December 22, 2010 - Dry bulk market looking for direction amid holidays - The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry’s benchmark has been falling this week, with the Baltic Dry Index (BDI) retreating yesterday to 1,886 points, close to its 2010 lowest. Both the capesize and the panamax segments were among the main losing sectors yesterday. During the course of the previous week, the Baltic Capesize Index managed to put a halt in its demise, by posting a marginal increase of 1% on a weekly basis

December 20, 2010 - Container shipping rides high on trade rebound, but caution is advised - Container shipping has been enjoying a gold run, hampered only by recent freight rates falls, as a result of overcapacity. Still, a recent report from BIMCO suggests that while the slide in rates should continue of oversupply of capacity isn’t reduced (and so far some liners appear to be hesitant to take capacity out of service), the report predicts that demand will remain firm during 2011 (in the higher single-digit area), although not a very strong rebound should be expected. “Private consumption in the main consumer societies of Europe and the US continues to struggle. For the recovery to become sustainable, private consumption has to take over from the large public stimulus packages that have driven demand forward – and we are still waiting for that to happen in a number of key countries. This is why the IMF just recently revised the growth forecast for the US downwards, while the growth forecast for EU, despite being upwardly adjusted, still remains quite depressed” said BIMCO’s analyst Peter Sand.

December 18, 2010 - Weekly Shipbrokers Reports - It seems that the BDI has been stuck in the 2,000 – 2,200 range for sometime now as the market struggles to find direction but today it just broke this standing at 1,999 points. Volatility is giving confusing signals to the market and coupled with the holiday season we are entering a period of inactivity. Although the BCI made a small increase the very bad performance of the panamax market dragged the BDI lower this week. The BPI is now at 2,037 points having lost nearly 14% of it’s value this week.

December 17, 2010 - Baltic index to rise slightly in Q1 - The main global sea-freight index will nudge up in the first quarter from the current level as strong Chinese demand offsets pressure from an oversupply of vessels that has weighed on the market for the past year.
Industry experts polled by Reuters this month expected a small rebound in the benchmark index due to an anticipated rise in Chinese imports of iron ore and coal, the two main commodities in the dry bulk market by volume.

December 15, 2010 - Large orderbook to hinder 2011 dry bulk market rebound despite increased demand says Paragon Shipping - A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk market. According to Mr. Michael Bodouroglou, Chairman and CEO of Paragon Shipping Inc., in an interview with Hellenic Shipping News Worldwide, “we believe that 2011 should be a challenging year due to the amount of new vessels that are expected to hit the water during the year”.

December 14, 2010 - Smaller dry bulk vessels are looking up, larger ones fail to deliver - The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Yesterday, the BDI (Baltic Dry Index) lost 0.91% to reach 2,076 points. The index, considered a benchmark for the market, has been hovering around the 2,000 – 2,200 point mark during the past few weeks unable to edge any higher. Once again, it was the larger vessel segments that dragged the market down, as opposed to their smaller counterparts which kept leaping forward. The capesize segment lost 1.15% on the day, with average daily rates now down to $24,852, while panamaxes were down 1.44%.

December 13, 2010 - Baltic Index Declines as Ship Supply Forces Owners to Cut Rates - The Baltic Dry Index, a measure of commodity-shipping costs, retreated for a second consecutive week as ship owners cut rates because of surplus vessel supply. The index fell 16 points, or 0.8 percent, to 2,095 today, for a weekly decline of 3.4 percent, according to data from the Baltic Exchange in London. Rents for capesize ships, mostly carrying iron ore and coal, slumped 12 percent this week, the most in a month.

December 11, 2010 - Tanker spot fixtures increase by 5.5% during November says OPEC report - In its latest monthly report released Friday from OPEC, the organization’s spot fixtures were increased by 5% on a monthly basis to reach 18.8 million of barrels per day, while on annual basis the increase was more than 18% on the back of increased output. Global spot fixtures experienced a similar trend and increased in November by around 5.5% compared to a month earlier. Middle East spot fixtures increased in November for both west- and eastbound voyages

December 10, 2010 - Dry bulk market losing steam once again on capesize woes - A decrease of iron ore sales to China this week has once again brought down the Capesize market and in turn the dry bulk market’s benchmark, the Baltic Dry Index (BDI) which yesterday retreated by 1.54% to 2,111 points. The Capesize segment was down by 3.57% on the day.

December 9, 2010 - Vessel oversupply issues keeping tanker rates down despite growing oil demand - Seasonal factors have started to weigh into the tanker trades, as the winter season is now officially upon us. As a result, some tanker segments have been taking advantage of those factors, like for instance the Suezmax tankers, which were particularly fortunate as a result of weather conditions in the Turkish straits, among other factors

December 7, 2010 - Oversupply of ships bound to keep dry bulk freight rates subdued during 2011 says BIMCO - An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s analyst Peter Sand. Still, there will be moments in 2011 where rates will spike due to inefficiencies in loading and discharge ports. Steelmakers in China, the world’s biggest iron ore buyer, need to raise prices to pass on higher raw-material costs as demand slows in Winter. But Winter is a slow season for steel consumption, as construction work in Northern China will normally be suspended. Steelmakers are therefore
left with eroding profits and may slow down demand for imported ore resulting in lower freight rates, particularly in the Capesize segment.

December 6, 2010 - Ship supply business constantly evolving as shipping becomes more and more technology-driven - Bovespa stock-index futures fell as economists raised forecasts for higher borrowing costs and metals and oil retreated on concern the U.S. economy may need more stimulus for an economic recovery

December 6, 2010 - Middle East supertanker rates rise 5.4% as demand strengthens - The cost of delivering Middle East crude oil to Asia, the world’s busiest route for supertankers, climbed for the first time in 10 sessions as demand for the vessels strengthened.
Charter rates for very large crude carriers, or VLCCs, on the industry’s benchmark Saudi Arabia to Japan route advanced 5.4 percent to 58.24 Worldscale points, according to the Baltic Exchange in London today.

December 4, 2010 - Baltic index rises, China ore buying supports - The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, rose for a second session on Friday as Chinese iron ore buying boosted sentiment on the larger capesize vessels.
The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose 1.64 percent, or 35 points, to 2,168 points. Before Thursday’s move higher, it had fallen for five sessions previously.

December 2, 2010 - Dry bulk market weighed down by capesize “blues” - The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the “minus” area. Yesterday, the BDI ended down by 0.14% to 2,096 points, marking the fifth straight loss for the index. As it turns out, the gains witnessed in all other ship segments are offset by the negative impact of the capesize market.

December 1, 2010 - Dry bulk market falls, capesize sentiment weak - The dry bulk market has kept its downward trend so far into the week, now extending to four straight losing sessions, if taking into account the sessions of the end of the previous week as well. Yesterday, the Baltic Dry Index (BDI) retreated by 2.14% to 2,099 points, as a result of a weakening sentiment in the capesize segment, which lost 5.98%. Based on the latest weekly report from shipbroker Barry Rogliano Salles, current market sentiment isn’t strong for this week as well. “Even a relatively bullish Atlantic market could not save the Cape market last week.

November 30, 2010 - Baltic Index Drops a Third Session as Fleet Growth Lowers Rates - The Baltic Dry Index, a measure of commodity-shipping costs, fell for a third consecutive session as fleet expansion pulled down rates to hire bigger iron-ore carriers, even as steel prices rise.
The gauge declined 25 points, or 1.2 percent, to 2,145 points, according to the London-based Baltic Exchange. That was the lowest level since Aug. 9. Rents to hire iron ore-hauling capesize ships retreated 4.6 percent to $29,333 a day, for a 16 percent slide in the vessels’ four-day run of losses. All other ship classes advanced.

November 29, 2010 - A “new generation” of bulkers - Dry bulk carriers are tough, no-nonsense ships operating in a rough and competitive world, moving mountains of coal, iron ore, grain and other bulk shipments around the world with a minimum of fuss. They have to be exceptionally robust – with some iron ports capable of hurling 16,000 tonnes per hour into a ship, with the cargo grabbed out in the discharge terminals with massive steel grabs weighing fifty tonnes empty, the punishment upon a ship’s structure can be severe.

November 27, 2010 - Baltic Dry Index Drops on Speculation Vale, BHP Exited Market - The Baltic Dry Index, a measure of commodity-shipping costs, fell for a second day on a dearth of iron-ore cargoes amid speculation that mining companies Vale SA and BHP Billiton Ltd. exited the market.
The index declined 30 points, or 1.4 percent, to 2,170 points, according to the London-based Baltic Exchange, paring its first weekly gain in six weeks to 0.7 percent. Rates to hire capesize vessels that primarily haul iron ore slid 5.7 percent, the most in two weeks, as all other ship classes gained.

November 26, 2010 - Baltic index falls, capesize cargo activity slow - The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, retreated on Thursday with slower cargo activity weighing on sentiment for the larger capesize vessels.
The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 0.59 percent, or 13 points, to 2,200 points after rising for three days previously. Prior to the move higher it had fallen for 17 straight sessions.

November 25, 2010 - Dry bulk market still going strong this week, capesize sector losing steam - The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to end the session to 2,213 points, still way off its year-highs of more than 4,200 points. But, the negative news –if one could assume them as such – was the slight decline of the capesize segment, which lost 1.50% yesterday. On the upside was the Panamaxes strong gains of 3.88%, which comes to show that last week’s downfall was a bit too much.

November 24, 2010 - Hellas: Ship owners acquire 205 ships worth $5.2 billion from the beginning of the year - Second hand ships purchases from Hellenic ship owners have risen by 50% since September when container ships came to the spotlight. According to a report from ship broker Golden Destiny, during October alone 30 vessels were reportedly purchased from ship owners from Hellas, with bulk carriers and container holding 70% of the total volume of their acquisitions. During October, Chinese owners’ share in the secondhand market has tapered off, holding around 9.3% of the total volume of secondhand transactions versus 21.4% of Greek investors.

November 23, 2010 - Dry bulk market catches a break, ends 17-day losing streak - After 17 straight losing session, the dry bulk market has managed to put a halt in the drop which had led the industry’s benchmark, the Baltic Dry Index (BDI) to the lowest it had been in over three months. But, Monday brought in some positive news, with the BDI edging forward by 1.11% to 2,179 points, bringing an end to the slide which had threatened the year lows of 1,700 points it had reached in mid-July.

November 19, 2010 - Dry bulk market on the ropes with BDI plunging to 2,164 points - With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of falls, the dry bulk market is fighting for a revival. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) kept its downward trend, ending down by 1.10 percent to 2,164 points and as a result, it has now been falling for 16 straight sessions. The index has fallen by more than 20 percent since the beginning of this demise, which was on the 28th of October.

November 18, 2010 - Baltic index falls, capesize rates turn positive - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in over three months on Wednesday as sluggish cargo activity weighed on the market Brokers said, however, that while iron ore activity remain subdued on the larger capesizes, sentiment for that sector had improved due to rising coal demand. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 1.4 percent, or 31 points, to 2,188 points in a 15th straight drop and was at its lowest since Aug. 9. The index has slid nearly 20 percent since it started falling on Oct. 28.

November 17, 2010 - Second hand ships sales to reach $20 billion in 2010 - The second hand ships market has resumed normal service, after the halt of the final four months of 2008 and most of 2009, according to a new analysis from BIMCO’s analyst Peter Sand. According to it, 2010 is going to end with reported sales of almost $20 billion of ships, when at the peak of 2007 that number was double to $40 billion.

November 16, 2010 - Dry bulk market looking for support in coal trades and Indian iron ore exports - The dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s session of the Baltic Dry Index (BDI), which ended with the main index down by 2.25% to 2,261 points.

November 15, 2010 - Vafias warns about dry bulk newbuilding orders, expresses solid belief in LPG carrier business' pros - In an interview with Hellenic Shipping News Worldwide, StealthGas’ CEO, Harry Vafias warned about the potential negative consequences of the flurry of newbuilding observed this year in the dry bulk market, while he says that the tanker market offers possible opportunities, but only if ship owners refrain from new orders as well.

November 13, 2010 - WeberSeas Weekly Market Report - Another week in the red with the capesize market dragging the BDI to the 2,300 point mark. The BDI lost over 7% whilst capesize was down almost 10%. The panamax segment was the only sector that positively gaining 2.65% but early gains in the week were eroded by friday.

November 12, 2010 - Dry bulk market still on a freefall - The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 straight losing sessions. As of yesterday, the BDI stood at 2,366 points, losing 3.59% from the previous day.
November 11, 2010 - Newbuilding ordering, second ships purchasing begin to cool off - As we slowly approach towards the end of the year, ship owners in both the dry and wet parts of the shipping industry begin to slowdown the rate of their investments in terms of fleet growth.

November 9, 2010 - Capesize market on the red on China's reduced iron ore imports, but hopes for a recovery still exist - Strong headwinds have once again plagued the dry bulk market, as the Baltic Dry Indexx began the week down by 0.52% to 2,482 points, with the only surviving segment being the Panamax one. Still, the BDI has now been falling for seven straight session. The dry bulk market edged down throughout the previous week, as demand for capesizes was little. But, the downward pressure was evident throughout the market, pushing rates down in all ship segments as well. The industry’s benchmark the Baltic Dry Index (BDI) ended the week with a 7 percent loss.

November 8, 2010 - China-backed shipping fund for Hellenic ship owners under way - With details about the recent deal signed between the Greek Prime Minister George Papandreou and his Chinese counterpart, Wen Jiabao about the setting up of a $5 billion shipping fund still scarce, Hellenic Shipping News Worldwide spoke with Mr. George Xiradakis, head of business consultants XRTC, who has an active role in the matter.

November 6, 2010 - WeberSeas Weekly Market Report - The market continued its correction throughout the week with all indices ending the week lower. Weak demand for iron ore from China stalled the capesize market putting pressure on the shipping freight rates.

November 6, 2010 - Smaller dry bulk vessels the weapon of choice among Hellenic ship owners - With the Handymax sector now emerging as one of the most attractive among its piers, when it comes to looking for an added value n terms of supply/demand balance is shaping in the years to come, it’s no surprise that Hellenic ship owners are actively on the lookout for more investments towards that direction.

November 5, 2010 - Dry bulk market lacking support to sustain current levels, but Panamax owners are more fortunate - Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 points, as the market doesn’t seem able to find the necessary support to stay afloat. The Capesize segment of the market was down by 1.21%, while all other smaller ship markets were also on the decline.

November 4, 2010 - Baltic index falls, slowness of ore enquiry bites - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, for the fifth straight session on Wednesday as growing supply and weak iron ore activity hit sentiment. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, dropped 2.23 percent, or 58 points, to 2,542 points.

November 3, 2010 - Hellenic Shipping News Poll: Dry bulk market still top of investors' preferences - The latest monthly poll, organized by Hellenic Shipping News Worldwide among its readers, revealed in October that the dry bulk market is still the most desirable investment-wise. A total of 3,034 readers took part in last month’s poll, out of which 937 or almost 31% would invest in the dry bulk shipping industry, should they have the proper financing.

November 2, 2010 - Panamax market losing steam after week of gains, newbuilding orders going strong - The dry bulk market began this week on a negative tone, with all shipping segments on the red, with Panamax in particular dropping the most, thus limiting last week’s gains. The Baltic Dry Index (BDI) was down yesterday at 2,648 points, a fall of 1.12 percent compared to Friday’s closing.

November 1, 2010 - Dry bulk rates look set to stabilize to profitable levels in the years to come says market analyst - With the Handymax and Handysize shipping sector currently offering the best scenario in terms of supply/demand model, the dry bulk market looks set to remain at profitable levels for the years to come, despite the large oversupply of vessels.

October 30 - WeberSeas Weekly Market Report - During this week we have not witnessed any significant changes in most indices, expert of course the increase in BDI by 8.61%. Demand for iron ore and thermal coal from China has increased and thus boosted the capesize and panamax index.

October 29, 2010 - Shipyards in China still dominating newbuilding market - Chinese shipyards continue to dominate the newbuilding market - and with a now significant pricing spread having been established between Korea and China - this dynamic looks unlikely to waver for the remainder of this year said a Clarksons report this week

October 28, 2010 - China's coal demand drives dry bulk market higher - The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both the capesize and the panamax markets were higher, on signs of growing coal demand from China, a trend which boosted the panamax market in particular.

October 27, 2010 - Tanker flat rates for 2011 to increase by up to 20% on major trades says analyst - According to a new report from Mcquillling Services, flat rates for tankers, as updated by the Worldscale Association, are expected to be revised upwards for 2011, by a percentage ranging from 17% to 20%. Each year the Worldscale Association issues an updated schedule of tanker freight rates, known as ‘flat rates’, presented in US$/metric ton. These rates are the fundamental basis for tanker spot rates which are negotiated in Worldscale (WS) points. WS points designate the actual negotiated percentage of the underlying flat rate where WS100 is 100% of the flat rate. The flat rates for 2011 will be issued in a couple months, and will go into effect in January. Each year more than 300,000 flat rates are revised and published for different load/discharge port combinations.

October 26, 2010 - Dry bulk market to keep rising this week on strong Chinese iron ore and thermal coal demand - Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77% to 2,748 points on Monday. Strong iron ore and thermal coal demand from Chinese buyers has been the main reason for this positive development for ship owners of dry bulk carriers.

October 25, 2010 - Dry bulk market still heavily dependent on China, posts small weekly loss of 1.27% - With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the freight rate this week. According to the industry’s benchmark, the Baltic Dry Index (BDI), the week ended with a small loss of 1.27% at 2727 points, with Friday being the only positive session after five straight losing ones. According to shipbrokers, this week could be a better one, with cold weather in China seen as the major contributing factor to a potential increase of coal demand. Meanwhile, the capesize segment of the market managed to stay ahead of the pack, with Chinese iron ore demand retaining freight rates to very firm levels (weekly gain of 0.64%), while average earnings are now at a healthy $45,657 per day.

October 22, 2010 - WeberSeas Weekly Market Report - During this week, we have not witnessed any significant changes in BDI, BCI and BPI (-1,27%, +0,64%, - 1,55 respectively), while supramax and handysize indices fell

October 21, 2010 - Baltic index falls, freight activity sluggish - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell for a fourth session on Wednesday as light cargo activity weighed on sentiment. Brokers said there was still support for larger capesizes. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 0.5 percent, or 15 points, to 2,729 points

October 20, 2010 - September ship demolition numbers dissapointing for dry bulk sector, oversupply looming - Although ship demolition has flourished this year for the most parts of the shipping market, dry bulk ship owners seem to be lagging behind their tanker or container counterparts, demonstrating a reluctance to sell their older vessels for scrap. The tiniest uptick of the dry bulk market is enough to postpone any scrapping decision, thus weighing down on dry bulk freight rates, which have been struggling to overcome the BDI’s 3,000-point mark, since June’s collapse.

October 19, 2010 - Capesizes finding support in iron ore demand - Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, especially those who have invested in the capesize market, as rates improved together with an increase of iron ore fixtures. As a result, Capesize rates are currently averaging $45,279/day, an increase of $4,481 (11%) from a week ago. Meanwhile, yesterday (Monday) the industry’s main benchmark, the Baltic Dry Index (BDI) was on the negative side, albeit just slightly, retreating by 0.22% to 2,756 points, virtually unchanged from the previous Friday

October 18, 2010 - Cape rates to climb on strong China buying - Freight rates for large dry bulk carriers on key Asian routes are expected to edge higher next week on increased iron ore demand in China, shipbrokers said on Thursday. In the panamax market, rates were likely to rebound as charterers take advantage of the widening spread between capesize and smaller vessel prices.

October 20, 2010 - September ship demolition numbers dissapointing for dry bulk sector, oversupply looming - Although ship demolition has flourished this year for the most parts of the shipping market, dry bulk ship owners seem to be lagging behind their tanker or container counterparts, demonstrating a reluctance to sell their older vessels for scrap. The tiniest uptick of the dry bulk market is enough to postpone any scrapping decision, thus weighing down on dry bulk freight rates, which have been struggling to overcome the BDI’s 3,000-point mark, since June’s collapse.

October 19, 2010 - Capesizes finding support in iron ore demand - Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, especially those who have invested in the capesize market, as rates improved together with an increase of iron ore fixtures. As a result, Capesize rates are currently averaging $45,279/day, an increase of $4,481 (11%) from a week ago. Meanwhile, yesterday (Monday) the industry’s main benchmark, the Baltic Dry Index (BDI) was on the negative side, albeit just slightly, retreating by 0.22% to 2,756 points, virtually unchanged from the previous Friday

October 18, 2010 - Cape rates to climb on strong China buying - Freight rates for large dry bulk carriers on key Asian routes are expected to edge higher next week on increased iron ore demand in China, shipbrokers said on Thursday. In the panamax market, rates were likely to rebound as charterers take advantage of the widening spread between capesize and smaller vessel prices.

October 16, 2010 - WeberSeas Weekly Market Report - The winner of this week the BCI which rose nearly 7%. Despite the holidays in China last week, the average earning for a modern capesize bulker reached US$ 35,999/day, an increase of 21,5 week on week.

October 15, 2010 - Tanker market in dismal mode during September on overtonnage issues - Tanker chartering activities decreased in September in almost all regions. Total spot fixtures decreased 8.4% reflecting a slowdown in worldwide oil trade. OPEC spot fixtures decreased 8.7%, the drop in exports in most of the oil producing countries having been offset by higher domestic demand

October 14, 2010 - Dry bulk market maintains positive trend on firmer Chinese iron ore demand - The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2,748 points or by 1.07% on a daily basis. According to shipbrokers and analysts, this development has to be attributed to the higher Capesize demand, on account of the increase of Chinese iron ore enquiries

October 13, 2010 - Dry Bulk Shipping: 2012 is now set to be the biggest delivery year at 88 million DWT - A new report from BIMCO raises new alarming figures in terms of the continuous threat of oversupply in the dry bulk market, as a result of the high pace of new building orders. BIMCO’s shipping analyst Peter Sand says that the active fleet has grown by 11.6% so far in 2010, driven by the 55 million DWT that has been delivered year-to-date. By the middle of July the amount of new tonnage delivered in 2010 surpassed the 2009 record level at 43.5m DWT.

October 12, 2010 - Dry bulk market looking for direction after week of Capesize growth - The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax segments were higher week on week, with the first gaining 19.22% and the latter 2.77%. Thus, capesize owners had plenty to cheer for in the previous week, a development not quite expected with China effectively out of the market, due to holiday reasons.

October 11. 2010 - Feature: Not the end of the world - The fourth quarter comeback is an article of faith in the dry bulk carrier market. Whether driven by the northern hemisphere grain season, coal restocking for winter or latterly the power of China sucking in the steelmaking raw materials, it has long been the joker in the pack

October 9, 2010 - WeberSeas Weekly Market Report - Surprisingly, even though China is still on holiday, the spot capesize rates have shot up US$ 40,000 per day and as a result charterers are coming out for period business of short duration to offset the high spot rates.

October 8, 2010 - Dry bulk market higher, new building orders keep on growing - Despite the absence of China from the dry bulk market as a result of a weeklong National Holiday, the dry bulk market and more specifically the industry’s benchmark, the Baltic Dry Index (BDI) has kept its positive momentum throughout the week, ending yesterday’s session at 2,662 points, 0.87 percent higher on a daily basis and 8.56% higher from the 1st of October

October 7, 2010 - Shipping freight rates expected to remain stable - Shipping freight rates are expected to remain stable for the rest of the year. One reason is because demand for freights remains low due to lower iron ore imports into China. The Baltic Dry Index, which measures freight rates, is expected to remain flat at about 2,500 points by year-end.

October 8, 2010 - Dry bulk market higher, new building orders keep on growing - Despite the absence of China from the dry bulk market as a result of a weeklong National Holiday, the dry bulk market and more specifically the industry’s benchmark, the Baltic Dry Index (BDI) has kept its positive momentum throughout the week, ending yesterday’s session at 2,662 points, 0.87 percent higher on a daily basis and 8.56% higher from the 1st of October

October 7, 2010 - Shipping freight rates expected to remain stable - Shipping freight rates are expected to remain stable for the rest of the year. One reason is because demand for freights remains low due to lower iron ore imports into China. The Baltic Dry Index, which measures freight rates, is expected to remain flat at about 2,500 points by year-end.

October 6, 2010 - Hellenic Shipping News Worldwide Poll: Capesize sector faces the most tonnage oversupply - he world shipping fleet is growing at a fast pace despite the almost two years since the outbreak of the financial crisis with all its consequences it brought with it on a global scale. As a result, the September Poll organized by Hellenic Shipping News Worldwide and its readers, raised the question of which dry bulk segment faces tonnage oversupply the most.

October 5, 2010 - Dry bulk market on a "snooze" mode on account of Chinese absence - The dry bulk market appeared somewhat on the positive side on Monday, with the industry’s benchmark, the Blatic Dry Index (BDI) posting gains of 1.06% to 2,478 points. But, traders and analysts alike don’t expect much turbulence this week, with China effectively shut on account of the National Day Holiday.

October 4, 2010 - Baltic Dry Index Posts Smallest Weekly Change in Five Months - The Baltic Dry Index, a measure of commodity shipping costs, posted its smallest weekly change in more than five months as hire rates rose for capesize vessels and fell for panamaxes.The gauge climbed 6 points, or 0.2 percent, to 2,452 points today, according to the London-based Baltic Exchange.

October 2, 2010 - WeberSeas Weekly Market Report Week 39 - The Capsize market managed to make a 10% increase this week which counter-balanced the negative effects of the other indices to keep the BDI practically unchanged for the week. With the Chinese on holiday next week charterers wishing to “clear the decks” were busy fixing on the spot market. The market is expected to be quiet next week.

September 30, 2010 - Dry bulk market heads south once more with market sentiment taking a cautious approach - he dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again on Wednesday. The BDI was down by 1.44% on Wednesday to 2,468 points, while what’s worth noting is that all ship classes were on the downside

September 29, 2010 - VLCC tankers looking to profit from floating storage - Floating storage could be the way to for tanker owners looking to push VLCC earnings back to the levels they were during the first half of the year, before the later plunge. But according to a report from Gibson, this hope of freight rates’ increase could be fading, with rates pummelled by the sharp decline in floating storage and the unstoppable increase in tanker supply.

September 28, 2010 - Ships demolition activity edges higher on August - With the Baltic Dry Index (BDI), the dry bulk market’s leading benchmark in terms of frieights rates now on the downslide and tanker rates posting heavy falls during the previous weeks on oversupply issues, ship owners around the world took a second look on their ageing vessels, many opting to finalize scrapping deals. The BDI ended almost unchanged yesterday (Monday), at 2,451 points, 0.29% higher than Friday

September 27, 2010 - Dry Bulk: Freight Rates Continue to Fall on Low Activity - The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.

September 25, 2010 - WeberSeas Weekly Market Report Week 38 - Another poor week for the market with all indices ending lower however, this was expected with the Far East on holiday this week with most charterers in the region being being absent from any market activity due to the Chinese holidays.

September 24, 2010 - Newbuilding activity still on a roll, although at a reduced order pace - With dry bulk rates posting yet more losses this week, on weak market activity for iron ore, ship owners appear to refrain from making any decisions on placing more newbuilding orders for dry bulk vessels.

September 23, 2010 - Dry bulk rates expectedly fall to one month lows - With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significanlty reduced , pushing the dry bulk market’s benchmark, the Baltic Dry Index (BDI) to new lows, proving that volatility is here to stay. The BDI posted on Wednedsay its eight straight loss-making session, ending 76 points lower to 2486, which is the lowest it’s been in over a month.

September 22, 2010 - Overcapacity strains on the capesize shipping front still at bay - The world shipping fleet is growing at a fast pace despite the almost two years since the outbreak of the financial crisis with all its consequences it brought with it on a global scale

September 21, 2010 - Dry bulk market sentiment turns south as iron ore demand declines - The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previous week, a pattern noted on Monday as well. The main reason for this was the significant decrease in iron ore fixtures. Yesterday, the BDI ended down by 48 points to 2628, while the capesize segment, which traditionally is serving the iron ore market, was down by 92 points to 3389

September 20, 2010 - Handysize dry bulk sector looking much better than larger counterparts says DVB - Dutch-based German bank DVB says that the handysize outlook is much better than other large sub-sectors. The importance of this part of the market will retain its importance at least for as long as port works around the world don’t progress swiftly, in order to be able to accommodate larger ship types.

September 18, 2010 - LA Port Shipping Is Back to Pre-Recession '07 Level - I reported yesterday that global trade reached a 26-month high in June, and today's report from the Port of Los Angeles provides additional statistical evidence of an ongoing boom in international trade activity. Shipping volume reached a 46-month high in August of 763,837 Twenty-foot Equivalent Units (TEUs), the highest monthly shipping activity since October of 2006 (see chart above), and the fourth highest monthly volume in history.

September 18, 2010 - WeberSeas Weekly Market Report - After the recent rally the market turned negative this week, The BDI lost nearly 11% dragged down by the BCI and BPI which both lost nearly 14%. The other two sectors were stable and practically unchanged with the BSI ending the week down 1.5% and the Handysize BHSI ended the week up 0.5%.

September 17, 2010 - Dry bulk freight rates to stay depressed in 2011 - Economic uncertainty and rising fleet supply are expected to keep dry bulk shipping rates depressed next year with companies set to slash costs to preserve profitability, a senior industry official said While rates for dry bulk vessels have recovered from record low levels seen in 2008 when global turmoil battered earnings, analysts say the seaborne sector still needs to see a stronger pick up in global demand for key commodities such as coal and iron ore.

September 16, 2010 - Baltic index falls again, trend seen staying weak - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell again on Wednesday as a lack of Chinese buying and softer sentiment kept the market pressured. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 3.4 percent, or 100 points, to 2,840 points dropping for a third straight day.

September 15, 2010 - Bulk ship rates seen rallying on key route - FREIGHT rates for large dry bulk carriers on key Asian routes are expected to rally next week, analysts and shipbrokers said yesterday, as Chinese steel producers book iron ore vessels for fourth-quarter production In the panamax market, quarterly contract requirements for coal, iron ore and grains were seen driving rates higher in Asia. The Baltic Exchange's main sea freight index rose 1.95 per cent, or 57 points, on Wednesday to 2,975 points in an eighth straight session of gains.

September 14, 2010 - High chartering activity needs to keep up for dry bulk rates to remain high - Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) managed to post a healthy increase over the previous weeks. Still, Monday broke the 10-session straight increases, with the index falling by 19 points back at 2,976, with little

September 13, 2010 - Baltic index rises 10th straight session - The Baltic Exchange's main sea freight index rose for a 10th straight session on Friday, only just failing to break through 3,000 points, due to support from autumn hedging, traders said. The index, which tracks rates to ship dry commodities including iron ore, cement, grain, coal and fertiliser, rose 0.23 percent, or 7 points, to 2,995 points.
September 11, 2010 - WeberSeas Weekly Market Report - BDI (+4%) rose for the 8th consecutive week reaching close to 3,000 points, BPI +9%. The expectation for a stronger market in the 4th Q is based on historic seasonal demand,

September 10, 2010 - Baltic index nears 3,000 on autumn hedging - The Baltic Exchange's main sea freight index rose by 13 points on Thursday to just below 3,000 as demand held firm at the beginning of the autumn hedging season in Europe and North America, traders said. The index, which tracks rates to ship dry commodities including iron ore, cement, grain, coal and fertiliser, rose to 2,988 points in its ninth straight session of gains.

September 9, 2010 - Dry bulk market is looking to increase gains on October iron ore contracts - The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head towards another “winning” week for the industry’s main benchmark, the Baltic Dry Index (BDI). The index posted yet another rising session yesterday, ending up by 57 points to 2975, looking ready to cross the 3,000 point mark for the first time since June, when the market was experiencing a free fall. Once again the “star” of the day was the capesize segment of the market, with the capesize index rising by 123 point to 4024, while daily average earnings are now over $40,000, against a mere $10,000 less than two months ago.

September 8, 2010 - Fearnleys Weekly - The Baltic index has increased from 3516 to 4024 though the past week. The average time charter rates have increased from usd 34488 to 40904 in the same period. We can definitely say that the index has been lagging and is under what is being physically being concluded. The recent rally in the market can be described as re-let driven, and when it became apparent that there were few ballasters towards Brazil, the operators began to react and secure what they could of tonnage.

September 8, 2010 - Baltic index rises, ore outlook lifts sentiment - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose on Tuesday as hopes of firmer iron ore enquiry in the coming months boosted sentiment The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose 1.28 percent, or 37 points, to 2,918 points in a seventh straight session of gains.

September 7, 2010 - Dry bulk market all set to reach 3,500 points in the coming days - The dry bulk market is looking well after the crash it experienced during the whole of June and up until the middle of July. According to John Pachoulis, the President of the Hellenic Shipbrokers Association, the so called “China factor” was the main mobilizing force of the market. In an interview with Hellenic Shipping News Worldwide, Mr. Pachoulis estimates that the market could very well reach 3,500 points during the following weeks, with the possibility of reaching 4,000 points by the end of the year, should Chinese steel mills keep their buying spree.

September 6, 2010 - MACRO: The dollar continues to lose steam. The euro has broken above $1.29, gold is holding above $1,250 and the Baltic Dry Index has firmed. The dry bulk market has been supported by stronger iron ore purchases from Chinese steel mills. Some brokers are throwing out a BDI boom by the end of the year even, with such things as a 5,500 BDI target (vs. 2,876 right now) -The business Insider

September 5, 2010- Dry bulk market gains 6.05% on week, boosted by Capesize vessels - The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a high, as a result of increased iron ore buying from Chinese steel mills. The industry’s benchmark, the Baltic Dry Index, has now reached 2876 points, flirting with the 3,000 point mark once again.

September 3, 2010 - Dry bulk market up on a healthy pace, newbuilding enquiries recover from summer's inactivity - The dry bulk market seems to have regained its poise, with the Baltic Dry Index (BDI) rising once again yesterday (the fourth straight rise), to reach 2,835 points, up by 3.43 percent or 94 points. As many analysts had expected since July, China’s iron ore demand seems to have picked up pace, with steel mills acquiring more cargoes, thus lifting the market. This development has been clearly illustrated with the bullish behavior of the capesize segment, which typically is the main carrier used to transport iron ore to China.

September 2, 2010 - Dry bulk market gains momentum to increase, with China once again to the rescue - With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the dry bulk market as observed through the industry’s benchmark, the Baltic Dry Index (BDI) seems to be regaining its positive edge to rise to 2741 points, or by 28 points.

September 1, 2010 - Baltic index edges up, cargo enquiry stays weak - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, edged higher on Tuesday, but brokers said the market needed to see stronger iron ore activity to sustain gains The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose 0.04 percent, or 1 point, to 2,713 points.

September 1, 2010 - Hellenic Shipping News Poll: Dry bulk shipping stocks regain investors' confidence - Although the month of August is traditionally a slow one, even for the shipping industry, the latest monthly poll organized by Hellenic Shipping News Worldwide, with the help of our readers yielded a significant number of participants, with 2,535 people voting on the question raised of which shipping stock is better poised for a rebound ahead of autumn.

August 31, 2010 - Capesize rates on volatile movement - With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterers its newest trends this week. But, if one takes into account the market’s behavior during the previous week, it’s obvious that as far as capesize owners are concerned, volatility is the name of the game.

August 29,2010 - Weber Seas - After a stable increase of the dry indices during the last 2-3 weeks we saw some correction which is justifiable not to say expected. Most players are closely monitoring China’s economic growth, since they are the world’s biggest steel producer and thus the biggest importer of iron ore, accounting for 64% of the world’s iron-ore market. Furthermore, the nest 2-3 months will be critical for the market as the figures of China’s autumn grain season will show whether production has been affected by the recent floods. The grain season for China is very important and vital to their food supply as it accounts for 70% of their output. Bad figures could suggest an increase in outsourcing which will benefit the market.
August 27, 2010 - Baltic index falls, trend seen weaker for now - The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, fell on Thursday for a second day due to slower activity, growing vessel supply and a weaker outlook The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 2.52 percent, or 70 points, to 2,703 points. Prior to falling on Wednesday it had risen for 14 straight sessions. "Last week's positive sentiment has not been sustained by sufficient fresh iron ore cargoes arriving in the market, and subsequently sentiment has turned more negative this week," said Derek Langston, a director with SSY Consultancy and Research.

August 26, 2010 - Baltic index falls, capesize rally fades - The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, fell on Wednesday for the first time in nearly three weeks as slower activity weighed on sentiment The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 3.08 percent, or 88 points, to 2,773 points after rising for 14 sessions previously. "It's run out of steam," said Georgi Slavov, head of dry freight research at ICAP Shipping. "I don't see anything that worrying -- it's a normal market correction when stems have been filled."

August 25, 2010 - Global Economic Recovery Watch: Shipping BoomGlobal Economic Recovery Watch: Shipping Boom - “Container ship charter rates are still climbing through the summer as ocean carriers compete for increasingly scarce tonnage to keep pace with surging cargo volume on key routes from Asia to North America and Europe. Charter rates for ships that can carry 3,500 20-foot containers have more than tripled since the beginning of the year and are set to climb further as unexpectedly strong cargo demand is outstripping the supply of ships for hire and newly built vessels entering the market.

August 24, 2010 - Baltic index at over 2-month high, capesizes firm - The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, was at its highest in over two months on Monday, buoyed by Chinese iron ore enquiry and grains demand in Europe. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose 3.08 percent, or 85 points, to 2,841 points in a 13th session of gains and was at its highest since June 17. It has risen 44 percent since it began moving higher on Aug. 5.
August 23, 2010 - Increase in world trade mirrored by higher container volumes - Cargo container shipping volumes, a key indicator of the global economy’s health, have risen sharply this year, surpassing expectations and beating even those figures recorded in 2008 before the economic crash. At the end of 2009 the shipping industry reported the first year-on-year falls in shipping container volumes as global trade faltered. Maersk reported increased volumes of 13% compared to last year. Trans-Pacific routes between Asia and North America were carrying 11% more containers while routes between Asia and Latin America were seeing 18% increases in trade.

August 22, 2010 - Baltic index at 2-month high, cargo activity grows - Capesize, panamax markets stays strong. Fleet growth set to temper gains this year. The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, was at its highest in two months on Friday with grains and iron ore activity bolstering sentiment. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose 4.24 percent, or 112 points, to 2,756 points in a 12th session of gains and was at its highest since June 17.

August 20, 2010 - Baltic Dry Index Jumps 3.4 Percent as Iron Ore-Shipping Rates Extend Surge - The Baltic Index, a measure of commodity shipping costs, jumped the most in six sessions as a surge in iron-ore transportation costs led rents higher. The gauge climbed 86 points, or 3.4 percent, to 2,644 points, according to the London-based Baltic Exchange today. Charter rates rose for all vessel classes in the index, led by a 5.7 percent gain in iron ore-carrying capesizes “There’s clearly more cargo around and it’s been like that for a few weeks,” David Webb, a shipbroker at Arrow Capesize (U.K.) Ltd., said by phone today. The extra demand has been a “global phenomenon” and not specific to loadings within any single region, he said.

August 19, 2010 - Fearnley’s Weekly Report - Backed by a stronger short period market and supported by some fresh requirements the sentiment has been more positive this week with the spot market firming slowly in both hemispheres. Expectations for a stronger Q4 and 6.5% increased congestion last week does to some extent assist the optimism

August 18, 2010 - Capesize flood is undermining freight rates - There is no doubt that the main drivers in dry bulk shipping are beginning to show some muscle; China and perhaps even more so, vessel oversupply in particular in the Capesize segment, is responsible for recent weakness in rates as well as adding doubt to the future.

August 17, 2010 - Drop in piracy cases boon for consumers and goods importers - Incidents of piracy along the Indian Ocean coast dropped in the first half of the year on increased surveillance by allied navy forces and poor weather, offering relief to importers and consumers of imported goods. Data from the International Maritime Bureau (IMB) indicates that piracy attacks dropped 196 cases in the six months to June, down from 241 cases in the same period a year earlier.

August 16, 2010 - BIMCO Shipping Market Overview - There is no doubt that the main drivers in dry bulk shipping are beginning to show some muscle; China and perhaps even more so, vessel oversupply in particular in the Capesize segment, is responsible for recent weakness in rates as well as adding doubt to the future. The fact that the BDI dropped for 35 consecutive days came as a rude awakening to the industry. The dry bulk sector had surprised on the upside for almost a year, since it came out of the abyss in the spring 2009. But the market which was almost completely kept afloat by massive Chinese stimulus that counterbalanced the inflow of new tonnage in 2009 and so far in 2010 - now reveals that the balance may be much tighter than feared.

August 14, 2010 - WeberSeas Weekly Market Report - Despite being right in the middle of the summer holidays, this week was marked by a huge increase in the market. The BDI index rose over 400 points nearly 22% to finish just below the 2,500 point mark. The main reason was the phenomenal increase in the BCI which rose just over 1,000 points or 46% !!! Average capesize rates are just below US $30,000 p/day, with iron ore activity continuing to drive the market. Other vessel classes have also benefited from a firmer capesize environment. The BPI rose almost 11% whilst the BSI and BHI rose 5.78 and 4.11% respectively.
August 13, 2010 - Baltic index rises, China ore enquiry drives gain - The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities rose on Thursday with Chinese iron ore enquiry driving gains especially on the larger capesize vessels. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, rose 2.48 percent, or 59 points, to 2,437 points in a sixth session of gains

August 10, 2010 - Capesize market on recovery mode - The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buoyant with the industry’s main benchmark, the Baltic Dry Index (BDI) rising by a more than impressive 4.14 percent, or 84 points, to 2,114 points, mainly as a result of renewed capesize cargo demand. The relative Baltic Capesize Index (BCI) jumped by 13.26 percent, with average daily earnings now standing at $21,298 a day, up from this year’s lows of under $10,000 a day, noted a few weeks ago.

August 10, 2010 - Capesize market on recovery mode - The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buoyant with the industry’s main benchmark, the Baltic Dry Index (BDI) rising by a more than impressive 4.14 percent, or 84 points, to 2,114 points, mainly as a result of renewed capesize cargo demand. The relative Baltic Capesize Index (BCI) jumped by 13.26 percent, with average daily earnings now standing at $21,298 a day, up from this year’s lows of under $10,000 a day, noted a few weeks ago.

August 7, 2010 - Weber Seas Weekly Market Report - A volatile week with a stronger ending is the basic summary of what has happened to the market this week. The BCI made a recovery mid week onwards ending over 14% higher and with it the BDI crossing over the 2,000 point mark to end the week over 3% higher. Although the BPI was marginally down it managed to erode the negative numbers earlier on in the week.

August 5, 2010 - Dry bulk looking to China for a new rally, but India could be this year's surprise - The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending its 12-day upwards momentum, retreating marginally both on Tuesday and yesterday. The BDI now stands at 1,957 points, down by 7 points or 0.36 percent on a daily basis. Even the panamax segment which had behaved in a healthier manner during these past couple of weeks didn’t manage to edge away, losing yesterday 2.18 percent, with daily average rates for panamax vessels standing at $20,947. On the bright side, the capesize market which had plunged to near break-even levels, below the $10,000 daily mark, continued its positive momentum , rising yesterday by 2.48 percent, with rates now standing at $15,369.

August 4, 2010 - Port of London cargo volume rises - The volume of goods passing through the Port of London recovered in the first six months of this year after a downturn in 2009, it has been announced. The port handled 23.3 million tonnes of goods in January-June 2010 - a 1.3% rise on the figure for the first half of last year, the Port of London Authority (PLA) said.

Disclaimer

The contents of this presentation contain statements that may constitute “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements may include financial and other projections, as well as statements regarding future economic events, or the assumptions underlying any of the foregoing. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements and accordingly, should not be read as guarantees of future performance or results.

Actual results, performance or achievement could differ materially from those expressed in, or implied by, any forward-looking statements made and, accordingly, viewers should not place undue reliance on any such forward-looking statements. New factors emerge from time to time, and it is not possible for anyone to predict all of such factors and to assess in advance the impact of each such factor on any of the financial or commodity markets.

This is not investment advice and you need to review this information with your tax, legal and financial advisors before acting upon this information.