Baltic Dry Indices Commentary - Week 33

August 20, 2017

       

HANDYSIZE:

The handy index entered the doldrums in Week 33, with nary a wander either side of 465. Whether seasonal cargo has an effect on the handies remains to be seen, as things still look weak to neutral. (unlike its sister Supramax index, which took an interesting hop upwards) For now, the Handy index
seems to be content, strolling along kicking stones.

     *CLICK ON EACH CHART TO SEE A LARGER VERSION*

 Let's hope a seasonal kick will help to keep the Handy index wandering in the 450 - 525 range.
With RSI around 40, and MACD showing weakness, the index is displaying some anaemic tendencies. 
Seemingly there is no ambition yet to push upwards through the 500 mark.

-----------------------------------------

SUPRAMAX:

 The bullish turn we were mumbling about last week seems to have carried through, with the Supra index reaching a point not seen since the beginning of May 2017 (Week 18) Expectations could signal further climbing, if we see a push upward through the 800-850 region. So far, there seems to be more positivity than the lack-lustre tendencies of the Handysize Index. 

      *CLICK ON EACH CHART TO SEE A LARGER VERSION*

The MACD being on the positive side, the RSI at 52.55 bears watching (get it?) as it approaches the caution zone.

-----------------------------------------------------
PANAMAX:
Last week we mentioned the base that the Panamax index built on back in June, around the 1100 region. Looking further back to the beginning of 2017, similar activity around the 1000 level was seen. Dare we hope for more of the same around the 1200 mark? The general bullishness of the past few weeks may show some signs of consolidation over the next short while.

 

 

We observers can hope, as the Relative Strength indicator is approaching the peaking zone, showing 64.67 while the MACD continues on the bullish side.

-----------------------------------------------------
CAPESIZE:

The headlong charge of the Capes continues, although in this business we can't avoid comparisons with the doomed Light Brigade. Nevertheless,
here we are. A backward glance confirms a fairly consistent average of 1500 - 1750 all the way back to the beginning of the year. The major excursions
up and down are to be expected with the relative narrowness of Cape market cargo. Take a quick look at an iron ore / shipping demand and growth chart.
Smearing the screen with our index finger, we can deduce the Capes' convoluted fortunes through the last year or two.

      *CLICK ON EACH CHART TO SEE A LARGER VERSION*

A target area of 1500 - 1750 could continue as the index average. However, caution is required since the Relative Strength Index is entering "be careful" territory. The MACD lines still show positive.
As we can see from the recent past, the Cape Index resembles the water-buffalo - a large bulky animal indeed, but capable of displaying sudden maneouverability. 
Don't glance away; the index is rapidly catching up to the peaks seen in November 2016 and March/April 2017.

What's next for our Cape Index heroes? Tune in next week, when you might hear us say, "What the.........?"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Please reload

Recent Posts

Please reload

Archive

Please reload

Tags

Disclaimer: Content on this site is provided  for information purposes only. We are not a registered investment advisor, broker, dealer, financial analyst, financial bank, securities broker or financial planner. The contents of this site are not intended to be, and do not constitute, financial advice. For any investment decision, you should seek the advice of a qualified and registered securities professional. This website is provided without any representations, warranties or conditions of any kind. The opinions expressed by www.supermar.info article authors and those providing comments are theirs alone, and do not reflect the opinions of Superior Maritime. Superior Maritime is not responsible for the accuracy of any of the information supplied by these authors.

  • twitter

©2016-2019 SUPERIOR MARITIME