World News
Baltic Dry Index Resumes Its Decline, Falls to New Low of 345
After not falling yesterday for the first time in 2016, the Baltic Dry Index Tuesday resumed its now all too familiar decline, shedding 9 points to a brand new all-time low of 345.
While the cape index at least had seen some gains over the last few sessions, today, rates were once again down across the board.
Average spot TC rates for capesize fell to $3,118 per day, while average spot TC rates for Panamax and Supramax vessels dropped to $2,497 per day, and $3,537 per day respectively.
The view from the talking heads today was also a familiar story; some pointed to China's economic slowdown, others maintained there were simply too many ships.
Earlier this week Ship & Bunker reported that Emanuele Lauro, chief executive of Scorpio Bulkers Inc. warned that "we will go under if this market persists."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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