(For January/February 2013) Number of crude oil drilling rigs in the U.S. was quite stable in the last 6 months. On a year level we had a small decrease. On world scale number of oil & gas drilling rigs changed only for the change in the U.S.
(For The Week Ending March 1, 2013) Same as with dry bulk, we are long time away from recovery, but I tend to think that overcapacity is smaller in wet cargo. Baltic Dirty Tanker Index rose 3.4%; Baltic Clean Tanker Index rose 1.2%. Share this:
(For The Week Ending March 1, 2013) I don’t see any encouraging data for the dry bulk industry, we are probably years away from recovery. Last week Baltic Dry Index rose 4.9%; Capesize Index was down 6.9%; Panamax Index rose 14.0%; Supramax Index was up 8.9%; Handysize Index rose 8.5%. China steel and coal inventories edged…
The fleet is growing slower in tankers than in dry bulk and the order-book is smaller in proportion to the fleet size. The difference is that the volumes are more stable then in wet cargo, so overall maybe a bit better situation than in dry bulk, but the diagnose is the same: a lot of scrapping needed to induce some recovery. Baltic Dirty…
Almost half a year passed since my last post. I have to say I miss my blogging, so one of my New Year decisions was start over, probably not with intensity as in the best days… In the mean time we had a wild ride with equity and most of the other prices in China, but ultimately…
HSBC/Markit PMI fell from 49.3 to 48.7.
Large discrepancy between HSBC/Markit and “official” PMI.
Baltic Dirty Tanker Index rose 0.7%; Baltic Clean Tanker Index rose 0.3%.
The oil price is holding up quite well despite weaker demand and higher stockpiles. The reason for that are tightness in the brent market (which reflects in other markets via. arbitrage) and geopolitical risks (mostly related to Iran nuclear program).
Challenger’s count of layoff announcements was reported at 40,559 in April vs. 37,880 in March.
HSBC/Markit PMI rose from 48.3 to 49.1.
Large discrepancy between HSBC/Markit and “official” PMI. Looks like a slight overreaction by the markets (if we view this in isolation).