World News
Baltic Dry Index Falls Below 700 Mark as Index Cool Down Continues
The Baltic Dry Index (BDI) Monday fell under the 700 mark, dropping 14 points on the day to 688, continuing a significant reversal in gains made since August.
In terms of average TC spot rates, the Capesize segment sunk $555 Monday to earnings of $4,808 per day; for comparison, at the end of January Capesize earnings sat at $8,318 per day.
However, average TC spot rates in both the Panamax and Supramax segments both grew slightly Monday to reach earnings of $7,563 per day (+$7) and $7,065 per day (+$43), respectively.
Having reached 1,257 points on November 18, 2016 - the highest the index had been since November 2014 - the BDI has now lost an overall 569 points.
Still, as Ship & Bunker reported last month, some experts suggest that the recent decline in rates will likely mark the low point for the year, holding fast to earlier sentiment that the worst has passed for the dry bulk shipping sector.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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