Baltic Handysize Index: Weekly Chart
Well, a little more musing on the Baltic indices shows the Handysize index following the higher tonnage Supras in the recent surge upwards. Following the charts, Week 8 gapped upwards from Week 7 and, as we write in Week 9, is around the 450 mark. Not yet at our possible resistance area of 450 – 465, it remains to be seen if the push upwards has the buoyancy seen in the Supramax arena.
Baltic Supramax Index: Weekly Chart
Referring to our last comments about buoyant sentiment, the gap up from Week 7 to Week 8 can also be seen on the Supra chart.
The Supramax index is making some dents in our possible resistance zone around the 800 level, and so far this week (Week 9) 833 was seen.
Some continued push-through of the 800 numbers might create some solid support for the Supramax index, so let’s
keep watching with (not too) bated breath. There are things afoot in China, but hopefully nothing that impacts the lighter-tonnage end of the bulk carrier spectrum too much.