Last week was “saved by the Panamaxes”, this week it was the Panamax sector that suffered the most. Increased volatility, greater fluctuations, and weekly or monthly periodicity of peaks and troughs have definitely altered the shipping markets. This was an overall negative week with all indices being red and most of the smaller indices producing long consecutive falling trends. For this coming week the BDI recorded its 17th consecutive drop, and it closed the week just like previous weeks with another strong loss of -7.3%. Capes may have found a bottom as the index mid-week marginally gained and this could be the possibility to start building on another rising period while Asian thermal Coal imports that will be needed to cover for the strong winter that is still ahead, may support the charter market showing some clear signs of new prompt and available cargoes.
Read the full
Dry Bulk Market Highlights - Week 46 (12/11/2010 - 19/11/2010)!
Best Regards,
Theo Scholiadis - S&P Broker
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