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Dry Bulk Market

Flooding cripples grain barge shipments on U.S. Midwest rivers

Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals. The flooded waterways sent cash premiums for corn barges delivered to Gulf Coast terminals soaring. Rates hit peaks on Thursday that have not been seen in 18 months, as exporters scrambled to secure enough grain to top off vessels bound for overseas markets, traders said. Barge lines suspended ...

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Baltic Dry Index climbs to 1185, up 18 points

Today, Friday, February 23 2018, the Baltic Dry Index climbed by 18 points, reaching 1185 points.

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Dry Bulk Market: Iron Ore Import Licenses Witness Huge Jump

The Chinese government last month issued iron ore import licenses for 202 million tons. While the monthly licenses never equal the amount of iron ore that is actually imported in any given month, the 202 million ton level is very noteworthy as it is simply a huge amount. In comparison, the most recent peak in licenses seen last year was for a total of 140.8 million tons issued in September (actual imports that month came out to 102.8 million tons, which is the current record). Overall, all signs are that ...

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Dry Bulk FFA: Capesize Market Looking For Balance

Capesize FFA Commentary: Cape paper saw an early push which seemed to be fuelled on rumours of bigger physical fixtures that failed to materialise. C5 did print 7.10 & 7.15 which was later reflected in the index but the Atlantic posted small losses causing most periods on the curve to retrace in a quiet afternoon session. Whether the premium FFAs hold over spot can last much longer on remains to be seen. Panamax FFA Commentary: Another busy day on panamax with buyers once again returning to the market. Prompt periods ...

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Train shortage, power demand to drive resurgence in India’s coal imports

Caught between logistical bottlenecks and surging demand from power plants, India will likely increase coal imports in 2018, industry executives said, in what would be a setback to the government’s plans to cut the country’s dependence on foreign supplies. The projected higher coal demand, which would reverse two years of declines, will be a boon for international miners such as Indonesia’s Adaro Energy, Australia’s Whitehaven Coal or global commodity merchant Glencore. But, the country’s power plants and cement makers, the source of the resurgent demand, will end up eating the ...

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Dry Bulk Market: Demolition Activity Still Crucial for Long Term Recovery

The sustainability of the dry bulk market’s rebound is still very much reliant on the steady rhythm of dry bulk demolitions. In its latest weekly report, Allied Shipbroking said that “despite the fact that we look to be well past the days of excessive supply glut in the dry bulk market, the demolition market is still one to be closely followed by most. After all it is a market that plays a crucial role in the overall supply/demand balance. So what can we really expect to see in this market ...

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Baltic Dry Index climbs to 1167, up 21 points

Today, Thursday, February 22 2018, the Baltic Dry Index climbed by 21 points, reaching 1167 points.

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Dry Bulk Market Will Be Stronger in 2018 Claims Management of Handysize Owner Pioneer Marine Inc., as Company Posts 2017 Net Losses

Pioneer Marine Inc. and its subsidiaries a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the fourth quarter and year ended December 31, 2017. Financial Highlights: Net Income/(loss) Net income of $2.5 million or $0.09 per share for Q4 2017, increased by $6.3 million compared to a loss of $3.8 million for Q4 2016. Net loss of $5.0 million or $0.17 per share for the year ended December 31, 2017, decreased by $22.2 million compared to a net loss of $27.2 million ...

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Dry Bulk FFA: Capesize Market has Quiet Day

Capesize FFA Commentary: A quiet day on Cape paper with March trading in a tight range between 16600 – 16800. Q2 traded 18500 and Q3 19550 -19600 levels. The deferred calendar years were notably quiet with buyers pulling back from recent highs but sellers not chasing them lower. Panamax FFA Commentary: An active day on the panamax with prompt seeing early action. March traded in around 1000 days between $12900 and $13100 in the morning and in turn q2 and q3 started to see buyers with q2 printing $14000 and ...

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Large ore carriers enjoying the limelight

Ore carriers, especially very large ore carriers or vlocs exceeding 300,000 deadweight tonnes capacity, are becoming a more prominent part of the global bulk carrier market. Many additional new vessels of this type have been ordered from shipbuilders recently, joining an already sizeable orderbook. Consequently the ore carrier fleet is likely to expand. But many of the new ships will be replacing old ships (including numerous conversions) becoming uneconomic to continue operating and destined for scrapping. Amid further growth in global iron ore trade, and expectations of a sustained strong ...

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Navios Maritime: Frangou Pleased with 2017 Results, as Group Expands Fleet to Exploit Improved Freight Market Conditions

Navios Maritime Holdings Inc., a global, vertically integrated seaborne shipping and logistics company, reported financial results for the fourth quarter and year ended December 31, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am pleased with the results of the full year and fourth quarter of 2017. For the full year, we reported revenue and Adjusted EBITDA of $463.0 million and $126.8 million, respectively. For the fourth quarter, we reported revenue and Adjusted EBITDA of $128.5 million and $46.7 million, respectively. Rates for dry bulk vessels have improved ...

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Baltic Dry Index climbs to 1146, up 29 points

Today, Wednesday, February 21 2018, the Baltic Dry Index climbed by 29 points, reaching 1146 points.

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Dry Bulk FFA: Capesize Market Still On a High

Capesize FFA Commentary: An active day for paper market as rates lifted in early trading. The C5 fixed steadily up with 6.75-6.85 being concluded for early march laydays while an End Feb loader seemingly achieved $6.90. The Atlantic was quieter in terms of volumes fixed but rates here too, were on the move up with tc and voyage rates for fronthaul marked sharply higher. The paper market seems very comfortable trading at such a high premium to the physical market. Is the paper tail going to wag the physical dog ...

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Dry Bulk Shipping: Q1 Requires Careful Handling As Seasonal Cargo Demand Drops

Demand The first quarter of any year always represents a challenge for the shipping industry, with fewer cargoes being tendered and Chinese New Year in February creating recurring business issues. In terms of freight rates, the positive development that characterised most of the second half of 2017 came to a sudden end on 12 December 2017, once capesize earnings peaked at USD 30,475 per day. On 29 January 2018, average capesize earnings were quoted at just USD 14,065 per day. By the end of January, the freight rates for all ...

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Global Grain Trade: A Multiplayer Game

Global grain trade, including wheat, coarse grains and soybeans, is set to exceed 500mt in the 2017/18 crop year, having grown by a CAGR of 4% since 2000/01. While exports are dominated by a small number of countries (the US and Brazil accounted for c.50% in 2016/17), imports are regionally very diverse. As in other dry bulk trades, Asia is a key source of growth, but is not the only interesting player… The Seasoned Pros Global grain trade is notably diverse, and since 2000, grain imports into all major regions ...

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