- The Baltic Dry Index rose 0.68% to 2,518 points to carve out a 10th straight day of gains. Higher Chinese ore prices and some cooling off of Hong Kong tension are seen as supportive of shipping rates.
- The Capesize index was up +1.3% to help offset a 0.5% dip in the Panamax index.
- Some analysts think the increasing number of vessels entering the shipyards in order to install exhaust gas cleaning systems (scrubbers) could support pricing for the balance of the year.
- Related stocks: Diana Shipping (NYSE:DSX), DryShips (NASDAQ:DRYS), Eagle Bulk Shipping (NASDAQ:EGLE), Navios Maritime Holdings (NYSE:NM), Navios Maritime Partners (NYSE:NMM), Globus Maritime Limited (NASDAQ:GLBS), Safe Bulkers (NYSE:SB), Scorpio Bulkers (NYSE:SALT), Star Bulk Carriers (NASDAQ:SBLK), Golden Ocean Group Limited (NASDAQ:GOGL), Seanergy Maritime (NASDAQ:SHIP), Genco Shipping & Trading (NYSE:GNK).
- Related ETFs: SEA, BDRY