World News
Baltic Dry Index Doesn't Fall for First Time in 2016
The first signs that dry bulk may have hit bottom were seen today, with the Baltic Dry Index Monday ending the day flat at 354 points, equal to the current all time low set on Friday.
This means that the sector's key index has ended a run that, as of last Friday, saw it fall every day so far in 2016.
It nevertheless remains at a historical low.
As was also seen in the latter three days of last week, average spot TC rates for capesize were up Monday, rising back above the $3,000 per day mark to $3,184 per day.
Average spot TC rates for Panamax and Supramax vessels were still moving in the other direction, falling to $2,600 per day, and $3,661 per day respectively.
Earlier today Ship & Bunker reported that Emanuele Lauro, chief executive of Scorpio Bulkers Inc., said that while there will likely be a number of casualties in the sector this year, whoever the survivors are could be in store for a windfall.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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