World News
Baltic Dry Index Sets New Record Low of 310
Tuesday February 2, 2016
The Baltic Dry Index Tuesday continued its unprecedented decline, falling another 4 points to 310.
Average spot TC rates for capesize rose for a second day, up $16 to $2,822 per day.
Average spot TC rates for panamax vessels were steady at $2,260 per day, and capesize rates fell to $3,024 per day.
Today's decline means the Index has yet to see a single day of gains in 2016, having fallen every day except one.
Last week Ship & Bunker reported that Allied Shipbroking said 1,430 dry bulk vessels needed to be laid up in order to restore balance to the troubled market.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 558.50 | 4.50 | 674.00 | 6.00 |
| Rotterdam | 516.00 | 3.50 | 701.50 | 24.00 |
| Houston | 536.00 | 6.50 | 715.50 | 29.00 |
| Fujairah | 549.00 | 3.00 | 753.00 | 16.50 |
| Global 20 Ports Average | 571.00 | 5.00 | 767.00 | 8.50 |
| Global 4 Ports Average | 540.00 | 4.50 | 711.00 | 19.00 |
| Global Average Bunker Price | 601.00 | 3.00 | 801.50 | 7.00 |
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