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Dry Bulk Market

Baltic index hits over 3-month high on firm demand across vessel segments

The Baltic Exchange’s dry bulk sea freight hit a more than three-month high on Monday on robust demand across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 45 points, or 1.9%, to 2,419 points. The capesize index was up by 70 points, or 1.74%, at 4,089. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $579 to $33,911. The panamax index gained 64 points, or 2.9%, to 2,298 points, rising ...

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India auctions 13 commercial coal mines to cut imports

India has successfully auctioned 13 commercial coal mines, under its eighth and ninth rounds, in an attempt to ramp up domestic output and reduce import dependency, according to a statement from the federal coal ministry. Of a total of 13 mines auctioned, eight are thermal coal mines and five coking coal, located in Madhya Pradesh, West Bengal, Maharashtra, Chhattisgarh and Jharkhand. While Madhya Pradesh has four thermal coal mines and one coking coal mine that were auctioned with accumulated reserves of 1.30 billion mt, the other states have one thermal ...

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Baltic index posts sixth straight weekly gain

The Baltic Exchange’s main sea freight index rose on Friday and posted a sixth consecutive weekly gain, steered by strong demand for panamax and supramax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 24 points, or 1%, to 2,374 points. The index was up 1.2% for the week. The panamax index gained 101 points, or 4.7%, to 2,234 points, its highest level in over three months. It logged a weekly rise of 20%. Average daily earnings for panamax vessels, which usually ...

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Fleet Upgrades Enabled Seanergy Maritime To Navigate Capesize Market Volatility During 2023

Seanergy Maritime Holdings Corp., announced today its financial results for the fourth quarter and twelve months ended December 31, 2023. The Company also declared a regular quarterly cash dividend of $0.025 per common share and a special cash dividend of $0.075 per common share for the fourth quarter of 2023. For the quarter ended December 31, 2023, the Company generated Net Revenues of $39.4 million, compared to $28.5 million in the fourth quarter of 2022. Net Income and Adjusted Net Income for the quarter were $10.8 million and $11.4 million, ...

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Iron ore loses over 10% on week as feeble demand, rising stocks weigh

Iron ore futures prices tumbled further on Friday to a more than six-month low, on track for a weekly drop of more than 10%, amid sluggish spot buying appetite and bleak demand prospects in top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 3.46% lower at 781.5 yuan ($108.61) a metric ton, the lowest since Aug. 22, 2023. It posted a weekly drop of 11%. The benchmark April iron ore SZZFJ4 on the Singapore Exchange was 4.1% lower at $99 a ...

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Baltic Dry Index climbs to 2374 up 24 points

Today, Friday, March 15 2024, the Baltic Dry Index climbed by 24 points, reaching 2374 points.

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Baltic index slips as capesize losses outweigh panamax gains

The Baltic Exchange’s main sea freight index declined on Thursday, as a fall in capesize rates overshadowed gains in the panamax segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 20 points, or 0.8%, to 2,350 points. The capesize index was down by 147 points, or 3.5%, to 4,042, its lowest level in a week. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by $1,216 to $33,521. Iron ore futures prices languished with ...

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Iron ore eases further as China demand concern lingers

Iron ore futures prices languished on Thursday, with lingering concerns over demand in top consumer China acting as a headwind, despite Beijing’s latest pledge of equipment upgrades that capped some losses earlier in the session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.62% lower at 798 yuan ($110.94) a metric ton, the lowest since Aug. 22, 2023. It posted a fall of 17% since the end of the Lunar New Year (LNY)holiday break. The benchmark April iron ore on the Singapore Exchange ...

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Brazil soy, corn crop estimates widen further after weather woes

Benchmark industry estimates of top exporter Brazil’s soybean crop have deviated even further from each other this month following a season blemished by questionable weather. That same controversy may be brewing for the country’s corn crop, especially with unfavorable conditions potentially on tap for Brazil’s top production state. Less attention has been paid to the corn estimates versus those for soybeans in recent weeks because Brazil’s heavily exported second corn crop planting efforts are just now concluding, though more than half of the soybeans have been harvested. SOYBEAN VARIATION The ...

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Russian coal exports to Asia-Pacific up 23% in 2023 -TASS

The volume of Russian coal exports to Asia-Pacific countries rose 23% in 2023, Russian Deputy Energy Minister Pavel Sorokin said on Thursday, as quoted by state news agency TASS. Source: Reuters

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Baltic index gains on higher capesize, panamax rates

The Baltic Exchange’s main sea freight index rose on Wednesday, helped by rising rates for the larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 55 points or 2.4% to 2,370 points, The capesize index .BACI was up by 97 points, or 2.4%, to 4,189. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $798 to $34,737. Iron ore futures prices declined on fears of a reduction in demand in top ...

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South Atlantic daily volume loaded surpassed the demand benchmark in March as the freight market is firming

During the second week of March, there’s a notable surge in freight rates, particularly in the larger vessel categories, accentuated by a diminishing number of ballasters. The demand indicator reflected in the volume of South Atlantic daily loaded shipments appeared robust and exceeded the benchmark demand as indicated by the 7-day moving average. In the iron market, iron ore futures prices continued their downward trend for a second consecutive session on Monday, reaching their lowest levels in over four months. This decline was primarily driven by the persistent weakness in ...

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Russian coal exports to Asia struggle amid lower prices

Russia’s exports of seaborne coal to Asia have been weakening in recent months, with lower shipments of both thermal grades and metallurgical coal used to make steel. Exports of all grades of coal were assessed by commodity analysts Kpler at 8.48 million metric tons in February, slightly higher than January’s 8.37 million. However, that small increase came after six straight months of declines, and the February exports were also some 21.6% below the 10.81 million tons for February 2023. Coal miners in Russia switched from selling mainly to Europe to ...

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Iron ore at over 6-month low on mounting fears of easing Chinese demand

Iron ore futures prices declined on Wednesday, on fears of a reduction in demand in top consumer China amid rising equipment maintenance among steelmakers and latest environmental curbs in northern region of the country. The most-traded May iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 2.53% lower at 807.5 yuan ($112.29) per metric ton, the lowest since August 2023. The benchmark April iron ore SZZFJ4 on the Singapore Exchange tumbled 4.42% to $103.45 a ton, as of 0707 GMT, the lowest since Aug 2023, after stronger-than-expected ...

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Baltic Index Slips On Falling Capesize, Supramax Rates

The Baltic Exchange’s dry bulk sea freight index slipped on Tuesday, snapping a three-session winning streak on falling rates for the capesize and supramax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 62 points or 2.6% to 2,315 points. The capesize index retreated 222 points, or 5.2%, to 4,092. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by $1,841 to $33,939. Dalian iron ore futures prices extended declines to a five-month ...

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