Baltic Dry Index down to 608 points

 

02.02.2015

On January 30, 2014, the Baltic Dry Index fell to 608 points, down 24points (3.3%) against the level of January 29.

BDI is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain. Because dry bulk primarily consists of materials that function as raw material inputs to the production of intermediate or finished goods, the index is also seen as an efficient economic indicator of future economic growth and production.

On 20 May 2008, the index reached its record high level since its introduction in 1985, reaching 11,793 points. On 3 February 2012, the index had dropped 647 points, the lowest since 1986.

Reuters

 

 

 

 

European Stocks Drop After January Advance as Spanish Banks Fall

 

 

 

8:11 AM CET
February 2, 2015
 

(Bloomberg) -- A drop in Spanish lenders pushed European stocks lower for a third day amid growing concern that anti-austerity parties are gathering strength.

The Stoxx Europe 600 Index dropped 0.3 percent to 366 at 1:50 p.m. in London after earlier rising as much as 0.3 percent and falling 0.7 percent. Spain’s IBEX 35 Index slid the most among 18 western-European markets. Energized by Syriza’s victory in Greece, the leader of its anti-austerity party Podemos pledged to restructure the nation’s debt if he can convert his

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Cartagena, puerto de entrada del turismo extranjero en la Región

 

 

Más de un centenar de cruceros atracarán en la ciudad portuaria en 2015 / El ayuntamiento de Cartagena desembarca en Fitur con la exposición ´El Tesoro de la Mercedes´

28-01-2015

 

P. L.Una vez que Cartagena se ha consolidado como puerto de atraque de los cruceros que operan en el Mediterráneo, el siguiente reto está ya en marcha. Tanto el ayuntamiento de Cartagena como la Autoridad Portuaria tratan de reforzar el papel de la ciudad como escala de trasatlánticos y la búsqueda de nuevos mercados entre las compañías navieras que operan durante los meses de invierno en el Mediterráneo Occidental. En ese contexto, la pasada semana, el Auditorio y Palacio de Congresos de El Batel acogió el III Seatrade Winter Cruising Forum, que reunió

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Worrying Weaknesses in Markets after Swiss Bank move

 

 
Stewart Richardson
Chief Investment Officer
 
 

Financial markets were roiled last week as losses currently estimated in the hundreds of millions were realised in the wake of the Swiss National Bank (SNB) abandoning their currency floor with the Euro. The problem for the market in the short term is the worry that higher volatility will force leveraged investors to sell down positions across the board, and that this selling begets more selling and so on. There is a bigger long term concern that we will get to later.

(For those interested or concerned about how RMG fared during this event. Both our FX and Macro strategies made money and are posting positive returns for January.)

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Falling crude prices: Crude indicators review

 

 

 

Falling crude prices: Crude indicators review

 
Falling crude prices: Crude indicators review (Part 1 of 8)

The crude tanker industry and its performance

Oil tanker basics

There are two primary types of oil tankers: crude carriers for unrefined products and product carriers for refined products. Crude tankers are mainly used for the deep sea transport of crude oil from production sites to refineries. They range in size from 55,000 deadweight tonnes (or DWT) up to around 450,000 DWT. The main trading routes are from the production areas in the Arabian Gulf and West Africa to Asia, Europe, and the US.

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