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Dry Bulk FFA: Supramax Markets Still Bearish

Supramax Index- Continues to be bearish but on MA support, upward moves that fail at USD 9,000 would imply further downside continuation. Q3 – A head and shoulders pattern has is confirmed and the neckline is acting as resistance. Caution on a close above USD 8,455 as this would suggest pattern failure. • Cal 18 – Technically bearish, we remain cautious due to oversold momentum. Technical sell levels on price failure between USD 8,655 and USD 8,940. • Q3 v Cal 18 – Behaved as expected last week. Another bullish ...

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Baltic index down for 10th straight session on lower rates

The Baltic Exchange’s main sea freight index fell for the tenth straight session on Friday, as rates remained weak across all vessel segments. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 6 points, or 0.65 percent, at 912 points – its lowest since early March. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels was down over 4 percent for the week. The capesize index fell 4 points, or 0.25 percent, to 1,591 points. Average daily earnings for ...

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Baltic Dry Index falls to 912, down 6 points

Today, Friday, May 26 2017, the Baltic Dry Index decreased by 6 points, reaching 912 points.

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Dry Bulk FFA: Capesize June Rates Seen Up to $13,350 in FFA Market

Capesize FFA Commentary: Capes made some modest gains in early trading with June trading up to $13350 and Q3 $14900 before finding selling resistance. The physical market remained relatively quiet with Ascension Day holidays today in much of Europe and a UK holiday on Monday it could be that a long weekend is already underway. Q4 traded around $16500 levels and the Cal 18 held just above $14k. Panamax FFA Commentary: It was a rather lackluster day on Panamax paper with holidays taking a toll on liquidity. The curve continues ...

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Dry Bulk Market: FFA Panamax Index Oversold says Broker

Panamax Index Weekly Support – 6,459, 5,948, 5,122, Resistance – 8,388, 8,857, 9,403 The 200 period MA has been broken, as have the first two support levels. At this point we have seen no bullish rejection candles that our needed to suggest a technical bounce. Market buyers should remain on the sidelines before looking to enter. The stochastic remains in oversold territory making this a high risk area to enter fresh shorts, highlighted by the technical support at USD 6,459. A market pullback that rejects the 34 period EMA at ...

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Baltic index hits lowest since early March on tepid demand

The Baltic Exchange’s main sea freight index , tracking rates for ships carrying dry bulk commodities, on Thursday fell to its lowest since early March as demand slowed across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1.71 percent, at 918 points. The capesize index lost 59 points, or 3.57 percent, at 1,595 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargo such as iron ore and coal, were down $427 to $11,750. ...

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Australian coal exports are bouncing back following disruptions caused by Cyclone Debbie

Australian coal exports are bouncing back, recovering from damage caused by Cyclone Debbie, which disrupted key supply routes in Queensland in late March and throughout most of April. This chart puts the recent weather-related slump, and subsequent recovery, into visual form. Source: Westpac From Westpac, it uses shipping data to estimate volumes for Australia’s key commodity exports. “Australian coal exports are continuing the recovery after the hit from cyclone Debbie,” says Robert Rennie, global head of market strategy at Westpac. “The current run rate for May is 31.5 million tonnes ...

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Diana Shipping Inc. Announces Time Charter Contracts for m/v Astarte with Glencore and m/v Erato with Phaethon

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The charter is expected to commence on June 12, 2017. The “Astarte” is a ...

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Baltic Dry Index falls to 918, down 16 points

Today, Thursday, May 25 2017, the Baltic Dry Index decreased by 16 points, reaching 918 points.

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Dry Bulk FFA: Capesize Market Takes A “Beating”

Capesize FFA Commentary: Another deeply depressing day for the cape paper market as the Asian bears bore their teeth early morning and set a tone that even the most ardent buyer couldn’t reverse. With holidays coming up over the next few days, it felt like being ringside at a one sided boxing contest. After taking sufficient punches, the trainer felt pity for his man and threw in his towel, ready to get ready for the next contest. It will be a long hard summer for all concerned if the market ...

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Australia: Modest seaborne export growth in iron ore continues – Westpac

Rob Rennie, Research Analyst at Westpac, explains that Australian iron ore exports for May so far are telling a story of continued modest growth as after an estimated 68.73mt of iron ore exports in April (up 1.68%3myy), May port activity suggests 70.99mt (up 3.78%3myy).  Key Quotes “Adding a bit of weight to the rising global supply theme, exports from Brazil for the month of May so far also suggest modest growth. After an estimated 29.6mt of iron ore exports in April, port activity suggests 31.8mt for the month of May. ...

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Dry Bulk Market Recovery Hinging of Slower Fleet Growth

When all has been said and done, the recovery of the dry bulk market is down to a number of factors, with the prevailing one being the significant reduction of the dry bulk fleet’s growth. Thankfully for ship owners, this seems to be evolving to a much more stable trend, at least according to dry bulk ship owner Jinhui Shipping. In a recent outline of the course of the dry bulk market, the company noted that “the first months of 2017 marked a more encouraging market for dry bulk shipping, ...

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Weak demand across vessels drags Baltic index down to 3-month low

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell to its lowest in nearly three months on Wednesday on weaker demand across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 15 points, or 1.58 percent, at 934 points – its lowest level since early March. The capesize index lost 52 points, or 3.05 percent, at 1,654 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore ...

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Navios Maritime Holdings Says Fleet Size Means That Operating Costs are Far Lower Than Industry’s Average

Navios Maritime Holdings Inc., a global, vertically integrated seaborne shipping and logistics company, reported financial results for the first quarter ended March 31, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am pleased with our results for the first quarter, in which we recorded revenue of $95.3 million, EBITDA of $17.5 million and net cash from operating activities of $28.6 million. We also ended the quarter with $138.2 million in cash, while having no committed growth capex or any significant debt maturities until 2019. In a recovering market, ...

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Baltic Dry Index falls to 934, down 15 points

Today, Wednesday, May 24 2017, the Baltic Dry Index decreased by 15 points, reaching 934 points.

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