Seeking Alpha

Capesize shipping rates fall again, -71.5% YTD

  • Shipping rates fell again overnight, and the Baltic Dry Index is now -44% YTD.
  • Overnight, capesize shipping rates declined 19.6% (or -$1,4620 to $11,128/day), panamax rates slipped 4% (or -$219) to $11,710/day, while supramax rates fell 1.8% (or -$94) to $11,721/day.
  • YTD, capesize rates -71.5%, panamax rates -20%, supramax rates -23%.
  • On watch: DRYS, GNK, PRGN, DSX, FREE, ULTR, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, ESEA, DCIX, TEU, DAC, SHIP, SSW, GSL.
Comments (10)
  • Tom Jacobs60
    , contributor
    Comments (12) | Send Message
     
    So What is the Baltic Dry Index today? I also would love to know where to find it myself? I search online, but to no avail, I only get a quote at 6pm from Bloomberg, but you seem to know what it is in the morning? Thanks!
    23 Jan, 09:49 AM Reply Like
  • gensearch2
    , contributor
    Comments (1461) | Send Message
     
    Try clicking on the highlighted text "fell again".
    23 Jan, 09:58 AM Reply Like
  • jbassbia
    , contributor
    Comments (365) | Send Message
     
    Google Dryships Baltic Dry Index
    23 Jan, 12:37 PM Reply Like
  • Rocketstocks
    , contributor
    Comments (9) | Send Message
     
    it's on Bloomberg - Eagle shipping doesn't own a single Capesize ship - this index is a moving target and often shippers will lease their vessels for a year etc - not exactly an easy science to figure out as it's a matter of when they book
    23 Jan, 02:39 PM Reply Like
  • Gil54
    , contributor
    Comment (1) | Send Message
     
    You can find at

     

    http://bloom.bg/yrMkxw
    23 Jan, 02:44 PM Reply Like
  • fishonov
    , contributor
    Comments (20) | Send Message
     
    @tom Jacobs, dryships.com
    23 Jan, 10:13 AM Reply Like
  • markush99
    , contributor
    Comments (2) | Send Message
     
    Hi Tom you can also use http://bit.ly/1hOEw1q
    23 Jan, 11:29 AM Reply Like
  • thefuture007
    , contributor
    Comments (33) | Send Message
     
    Howdy Tom
    Heres the best Two places.The Bloomberg is active/Daily.The Capital LINK is where the BDI is also shown,the link I sent gives BDI/Daily written accounts.They will also email you a weekly report,thats the site to use for current/Daily BDI info.
    Bloomerg http://bloom.bg/Tqtksq

     

    Capital Link http://bit.ly/1bx1aW9

     

    My Favorite is TK or TNK with good Yield,but not a BUY until @$2.75 or 200Dma.
    23 Jan, 01:57 PM Reply Like
  • hypnosis hypnotherapy Los A...
    , contributor
    Comments (12) | Send Message
     
    RE NMM, this is only vaguely a worry, as their business model is based on long term contracts to finance their high debt load. It is similar to borrowing at low short term rates and lending out at higher long term rates. Temporary fluctuations, though at times dramatic, are really "noise" compared to long term trends, as the cycles are across several years. As with REITS, if the management knows how to manoevre these cycles, barring fat tail events, it will go Okay. Similar to Seadrill in its financial model.
    24 Jan, 01:56 AM Reply Like
  • Alphabullgator
    , contributor
    Comments (14) | Send Message
     
    Been down this road with reports like this before.
    The last one was about 10 0r 12 days ago with a SA post stating that dry bulk shipping had fallen 27% over night listing these same companies.
    Turns out these reports are spot market prices and don’t affect long term contracts.
    Shipping companies business is cyclonical in nature.
    Do you’re research before you make a costly mistake of selling a company with long term contracts on this type of information.
    24 Jan, 07:38 AM Reply Like
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