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Dry Bulk Market

Baltic Dry Index falls to 933, down 9 points

Today, Friday, July 28 2017, the Baltic Dry Index decreased by 9 points, reaching 933 points.

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Dry Bulk FFA: Capesize Market Sees Buyers’ Resilience

Capesize Commentary Continuing the animal theme of recent days, yesterday the cape paper market and its participants could be well likened to a Tardigrade. Tardigrades are often called moss piglets and are near microscopic animals with long, plump bodies and scrunched up heads. They have 8 legs and hands with 4-8 claws on each. While strangely cute these animals are indestructible and can survive in outer space. You can boil them, freeze them, crush them, dry them out and yet they survive it all and come back for more. After ...

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Dry Bulk Market: Confidence Is Growing Among Ship Owners

Things are shaking up in the dry bulk market of late. In its latest weekly report, shipbroker Intermodal said that “after an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing until the end of March market peak. During the second quarter and until the beginning of this month, the freight market witnessed pressure, which was more evident in Capesizes, with the BDI nonetheless resisting to break below 800 points. During the past couple of weeks, we ...

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Baltic index down for second straight day on weak vessel rates

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday for a second straight day, on weaker rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 26 points, or 2.69 percent, at 942 points. The capesize index lost 68 points, or 5.64 percent, at 1,138 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $438 at $9,001. The panamax ...

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Navios Maritime Partners “a Unique Platform in the Dry Industry with $700 Million In Contracted Revenue” Claims Angeliki Frangou, as the Company Issues Second Quarter Results

Navios Maritime Partners L.P., an international owner and operator of container and dry bulk vessels, reported its financial results for the second quarter and six months ended June 30, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “For the second quarter of 2017, Navios Partners reported Consolidated Revenue of $50.0 million and Consolidated Net Income of $4.1 million. In addition, Adjusted EBITDA was $32.2 million.” Angeliki Frangou continued, “Navios Partners is a unique platform in the dry industry, with about $700 million in contracted revenue, 84% of which is ...

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DryShips Inc. Announces Appointment of Two New Directors

DryShips Inc., a diversified owner of ocean going cargo vessels, announced the appointment of two new directors. Mr. Anthony Kandylidis has served as the Company’s President and Chief Financial Officer since December 2016 and was previously the Company’s Executive Vice President since January 2015. In September 2006, Mr. Kandylidis founded OceanFreight Inc. and took it public in April 2007. In 2011, OceanFreight Inc. was absorbed by DryShips through a merger. Mr. Kandylidis also serves as President and Chief Financial Officer of OceanRig UDW Inc. (NASDAQ: ORIG), an international drilling contractor ...

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Baltic Dry Index falls to 942, down 26 points

Today, Thursday, July 27 2017, the Baltic Dry Index decreased by 26 points, reaching 942 points.

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Dry Bulk Market’s Improvement Translates to Increased Net Revenue for Safe Bulkers, Inc.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and six months period ended June 30, 2017. Summary of Second Quarter 2017 Results Net revenue for the second quarter of 2017 increased by 34% to $35.0 million from $26.2 million during the same period in 2016. Net loss for the second quarter of 2017 was $1.6 million as compared to $9.0 million, during the same period in 2016. Adjusted net loss[1] for the second quarter of 2017 was $2.3 ...

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Dry Bulk FFA: Capesize Market Still on Bear Mode

Capesize FFA Commentary: Yesterday we told of the unfortunate sheep that met a grisly end having been chased over the mountain edge by bears. Some receivers of this report enquired as to whether or not the sheep had in fact committed suicide. One would think this unlikely. Like most FFA traders and brokers, the daily pattern for most Animals is simply limited to eat-sleep-drink – defecate. That is, except for the lemming, a small furry, gerbil like rodent that has a tendency to kill itself by jumping off of cliffs. ...

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Baltic index falls on lower rates for larger vessels

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday as rates for larger vessels dropped. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 12 points, or 1.22 percent, at 968 points. The capesize index lost 15 points, or 1.23 percent, at 1,206 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $108 at $9,439. The panamax index shed 33 points, or 2.69 ...

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Baltic Dry Index falls to 968, down 12 points

Today, Wednesday, July 26 2017, the Baltic Dry Index decreased by 12 points, reaching 968 points.

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Dry Bulk FFA: Capesize Market on Bear Vs Bulls Mode

Capesize FFA Commentary: This week there has been a bitter debate over the presence of bears in the Pyrenees mountain range that straddles the French-Spanish border. More than 200 sheep died this week after they hurtled over the edge of a cliff while being chased by a bear. The sheep belonged to a French farmer but their bodies were discovered just over the border in Spain. Local authorities concluded that the sheep had been running away from a bear. While the farmer will be compensated for each of the 209 ...

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Baltic index rises on higher capesize rates

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, supported by higher rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.31 percent, at 980 points. The capesize index jumped 50 points, or 4.27 percent, to 1,221 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $332 to $9,547. The panamax index was down 23 points, ...

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China imports 5.79 mil mt of coking coal in June, steady on year

China’s coking coal imports in June at 5.79 million mt were little changed on the year, while recovering from a drop in volumes in May, according to customs data. Mongolia was the largest source of imports in June, with 2.6 million mt, followed by Australia with 2.22 million mt. The two sources switching around compared to June 2016 when Australia was the largest. Imports grew from 4.65 million mt in May. Australia shipped only 655,000 mt in May, as shipment volumes fell from Queensland, the largest source of seaborne met ...

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Baltic Dry Index climbs to 980, up 3 points

Today, Tuesday, July 25 2017, the Baltic Dry Index climbed by 3 points, reaching 980 points.

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