BDRY

Dry bulk shipping rates have just hit a new 2020 high

dry bulk ship

More ocean shipping signals are flashing green. First came a recovery in the container sector, driven by surging U.S. consumer demand. Now comes a rebound in dry bulk shipping. Rates for large bulkers known as Capesizes, which have a capacity of 100,000 deadweight tons (DWT) or more, just hit year-to-date highs, driven primarily by industrial demand.

The Baltic Exchange’s 5TC index assessed Monday’s time-charter equivalent (TCE) rates for Capesizes burning 0.5% sulfur fuel at $34,293 per day....

https://www.freightwaves.com/news/dry-bulk-shipping-rates-just-hit-a-new-2020-high

Tanker stocks are sinking toward the bottom

underwater

With the first half in the rearview mirror, it’s time to take stock of shipping shares. How did they fare, particularly the tanker equities that stole the spotlight? 

FreightWaves ran the numbers on the larger U.S.-listed ship owners — and not to rub salt in the wound, but the numbers are ugly.

Among the larger companies, the best-performing stock by far is Nordic American Tankers (NYSE: NAT), an owner of Suezmax tankers (tankers that carry 1 million barrels of crude).

The worst performer by far...

https://www.freightwaves.com/news/tanker-stocks-are-sinking-toward-the-bottom

Can dry bulk woo stock gamblers who bet on tankers?

gambling

Dry bulk has tanker envy in 2020.

Dry bulk was where day traders placed their bets back in the day, in the mid-2000s, but this year, investors on Robinhood and other retail platforms have instead put their chips on floating storage and stocks like Nordic American Tankers (NYSE: NAT).

Here’s the emerging dry bulk shipping pitch: Dry bulk stocks trade in relatively high correlation with spot rates and unlike tanker stocks, they don’t face a painful floating-storage destocking phase. Dry bulk rates...

https://s29755.pcdn.co/news/can-dry-bulk-woo-stock-gamblers-away-from-tankers

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