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Dry Bulk Market

Baltic Dry Index climbs to 1338, up 5 points

Today, Wednesday, March 29 2017, the Baltic Dry Index climbed by 5 points, reaching 1338 points.

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Dry Bulk FFA: Capesizes on “Mixed Emotions”

Capesize FFA Commentary: An incredibly confusing day for the big ships. On one hand the physical market continues to power on with strong period fixtures and spot rates increasing across the board. The paper market has unhappy memories of 2014 and despite the rising physical actually came off today in good volume. Some buyers returned on the close of play and its hard to see how the derivative can continue to move in the opposite direction to the physical. One feels that something has to give soon…… Panamax FFA Commentary: ...

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Baltic index continues gaining streak, hits new 2-year high

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, continued its gaining streak on Tuesday with a fresh more-than-two-year high, driven by strong demand for large iron ore vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 51 points, or 4 percent, at 1,333 points, its highest level since November 11, 2014. The capesize index climbed 145 points, or 5.5 percent, to 2,765 points, its best since November 25, 2014. Average daily earnings for ...

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Changes to Baltic Exchange dry bulk indices

The Baltic Exchange will be implementing previously announced changes to its Supramax Index; launching dual reporting of a new Panamax Index on a trial basis and is in the final consultation process of a new Handysize Vessel dual reporting period for the Handysize Index. These actions meet the standards set out by the International Organization of Securities Commissions (IOSCO). The Baltic Exchange has been dual reporting the Supramax 58,000 since 31 July 2015 and has announced that following a successful trial that it will cease publishing the 52,000 dwt assessments ...

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Genco Shipping & Trading Limited Appoints Jesper Christensen as Vice President and Commercial Director, Minor Bulk Fleet

Genco Shipping & Trading Limited (GNK) announced today that it has named Jesper Christensen as Vice President and Commercial Director, Minor Bulk Fleet. Mr. Christensen has extensive chartering experience, managing diverse vessel sizes ranging from Handysize to Panamax vessels. Prior to joining Genco, Mr. Christensen served as Director, Head of Chartering Stamford at Clipper Bulk (USA) LLC, where he was responsible for the development and growth of its chartering activities on a global basis, during which time he was charged with advancing the company’s commercial strategy. John C. Wobensmith, Chief ...

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Maybulk climbs to mid-Nov high as iron ore, coal imports rise

Shares of Malaysian Bulk Carriers Bhd (Maybulk) rose to 81.5 sen, the highest since early November 2016 on Tuesday, as it rode on the rebound in the Baltic Dry Index (BDI). At noon, it was up 3.5 sen to 89 sen. There were 5.63 million shares done at prices ranging from 77 sen to 81.5 sen. Hong Leong Investment Bank (HLIB) Research pointed out that the Baltic Dry Index has been trending higher. Bloomberg data showed the index surged from 702 on Feb 10 to 1,282 on Monday. “This was ...

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Threat of Cyclone Disrupts Mining in No. 1 Met Coal Exporter

BHP Billiton Ltd. and Glencore Plc are halting some production in the world’s largest exporter of coal used in steel-making, as the biggest cyclone since 2011 to hit Australia’s Queensland nears the state. South Walker Creek metallurgical coal mine operations will be suspended from the end of day shift on Monday and preparations are under way to manage increased rainfall throughout the week, BHP said in a statement. Glencore is preparing to temporarily halt output from the Collinsville and Newlands mines, the company said in a separate release. Severe tropical ...

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Baltic Dry Index climbs to 1333, up 51 points

Today, Tuesday, March 28 2017, the Baltic Dry Index climbed by 51 points, reaching 1333 points.

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Dry Bulk FFA: Capesize Market on Correction Mode

Capesize FFA Commentary: The late surge in paper rates on Friday was quickly erased in early trading which saw Apr drop to 18000 and Q2 16k before buyers starting to return to the market. Talk of stronger physical fixtures was reflected in the index but there was an air of caution which kept trading relatively subdued as the afternoon progressed. Panamax FFA Commentary: We continued to see good support across the curve today on Panamax paper with early buying see April and Q2 push up to $12050 and $11600 highs ...

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Baltic index rises on strong demand for larger vessels

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than two-year high on Monday on higher demand for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, touched its highest level since November 2014. The index was up 42 points, or 3.39 percent, at 1,282 points. The capesize index gained 138 points, or 5.56 percent, at 2,620 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and ...

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Dryships Inc. Announces Acquisition of Four Modern Newcastlemax Vessels

DryShips Inc., a diversified owner of ocean going cargo vessels, announced today that it has entered into agreements with unaffiliated third parties to acquire four modern Newcastlemax bulk carriers of approximately 206,000 DWT and with an average age of 3.0 years. The Company expects to take delivery of the vessels before the end of June 2017. The Company will finance the total gross purchase price of approximately $124 million using cash on hand. Current liquidity stands at approximately $455 million. Two of the vessels will be employed under time charter ...

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Baltic Dry Index climbs to 1282, up 42 points

Today, Monday, March 27 2017, the Baltic Dry Index climbed by 42 points, reaching 1282 points.

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Dry Bulk In 2016: Navigating through the worst market since 1986

The dry bulk market during the first quarter of 2016 turned out to be the worst ever registered. The Baltic Supra Index (BSI) which averaged 6,965 in 2015 (down 30 percent from 2014) dropped to all time low of 2,544 during February, ending the first quarter at an average of 3,801. The second quarter improved to 5,795 and third quarter likewise closing at 7,064 before a strong grain season brought some real improvement in the final quarter, which ended at an average of 8,316. This helped the average for the ...

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Baltic index rises to over 4-month high

The Baltic Exchange’s main sea freight index , tracking rates for ships carrying dry bulk commodities, closed at its highest level in more than four months, helped by stronger rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended up 44 points, or 3.7 percent, at 1,240 points, a level last seen on Nov. 21. The capesize index gained 137 points, or 5.8 percent, to close at 2,482 points, its highest level since Nov. 23. Average daily earnings for ...

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Spike in coal shipments drive Asia Pacific coal freights higher

Supramax freight rates for moving thermal coal from Southeast Asia reached a multi-month high Friday as Chinese imports spiked and Indian coal buyers were steadily active amid tight tonnage supply. Freight rates on the key Indonesia to India 50,000 mt (plus/minus 10%) Supramax coal routes hit their highest levels since the launch of these assessments on September 1. The freight rate from South Kalimantan in Indonesia to Paradip on the east coast of India was assessed Friday at $9.05/mt and to Navlakhi on the west coast at $10.50/mt. The related ...

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