Bulk Carrier Shipping Market (‘22/12W)

As of March 18, BDI(Baltic Dry Index) recorded 2,605. 17.4% higher than the same period last year

1.     Capesize Weekly Trend

1-1.        Weekly Market Briefings

 

• Decline adjusted due to delayed recovery of iron ore demand in China and the end of East Australian coal shipments to Europe
• In order to prevent the spread of COVID-19 in China, a 7-day lockdown will be implemented in large cities such as Shenzhen and Shanghai from March 14.

     - Suspension of all functions except essential work during the lockdown period.

     - The operation of major Chinese steel mills is showing signs of recovery in March, but due to increased
        uncertainty due to lockdown laws in major cities, steel mills are minimizing the purchase of raw materials.

 

1-2.        technical analysis

MACD : January 18, 2022, Trade signal (buy position establishment) signal generated

 

 

2.     Panamax Weekly Trend

2-1.        Weekly Market Briefings

 

• The price of coal, which has risen excessively since the outbreak of the Ukrainian War, has spread and declined due to widespread protests.

     - European coal demand enters a stagnant phase following the progress of negotiations between Russia and the
       U.S.

• Chinese coal importers hold back purchases in anticipation of government intervention to quell the surge in coal prices

     - Sluggish electricity demand due to blockade measures in major cities such as Shenzhen also limits coal import
       demand to China

    - Most of Northeast Asian coal importing countries other than China completed securing inventory for April,
       reducing spot demand

     - The exhaustion of traders' ability to open letters of credit due to a surge in coal prices also limits the
       occurrence of new trading

 

2-2.        technical analysis

MACD : March 17, 2022, Trade signal (Short Position establishment) signal occurred

 

Thanks.