World News
Dry Bulk: BDI Stages Slight Recovery From All-Time Lows
The Baltic Dry Index (BDI) Friday recovered 6 points to 477, rising off new all-time lows set earlier in the week.
However, the overall index remains near its all-time low of 471 on both Wednesday and Thursday.
Indexes for Capesize and Supramax vessels were largely unchanged Friday, although average daily earnings for the Capesize sector rose $182 to $5,190.
There was a five-point increase in the Panamax index.
"The dry bulk market is experiencing one of the worst crises of the last 25 years," said Stamatis Tsantanis, CEO of Seanergy Maritime Holdings Corp in the company's latest financial report.
"However, the depressed markets usually represent unique opportunities for acquisitions of quality tonnage."
Last week Ship & Bunker reported that the BDI hit all-time lows following a 19 percent decline of the index in December.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 532.00 | 15.50 | 623.00 | 25.00 |
| Rotterdam | 472.50 | 8.00 | 623.00 | 10.50 |
| Houston | 469.50 | 8.00 | 627.00 | 16.50 |
| Fujairah | 519.50 | 15.50 | 725.00 | 8.50 |
| Global 20 Ports Average | 540.00 | 8.00 | 718.50 | 10.50 |
| Global 4 Ports Average | 498.50 | 12.00 | 649.50 | 15.00 |
| Global Average Bunker Price | 576.00 | 5.50 | 759.00 | 3.50 |
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