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.
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