World News
Dry Bulk Ends the Week Falling Further to 317
The Baltic Dry Index Friday ended the week falling to yet another record low of 317 - eight points lower than the previous day.
Again, average spot TC rates were down across the board, with capesize falling to $2,785 per day, and average spot TC rates for Panamax and Supramax vessels slipping to $2,299 per day, and $3,179 per day respectively.
The sector's key index has yet to make a single gain this year, and has been at a record low level on every day bar one.
Illustrating how severe the downturn is, Clarksons Friday noted the Index's current level was far below 2015's average of 718 points, itself the second lowest annual average on record.
The worry is that this translated to average bulker earnings for the year of about $7,000 per day, little more than estimated operating costs.
Yesterday Ship & Bunker reported that Allied Shipbroking suggested 1,430 dry bulk vessels needed to be laid up in order to restore balance to the beleaguered market.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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