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Dry Bulk Market

Australian PWCS coal terminals’ vessel queue falls to six ships

Port Waratah Coal Services’ two terminals at Newcastle port in eastern Australia had six ships waiting offshore Sunday, down from 12 ships a week ago, the Hunter Valley Coal Chain Coordinator said in a report Sunday. The ship queue for the PWCS terminals is expected to be fewer than five vessels at the end of November, the coal chain coordinator said. The PWCS terminals shipped 2.4 million mt of coal exports in the week ended Sunday, up 608,900 mt from a week earlier, and the month-to-date exports totaled 5.2 million ...

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Baltic Dry Index climbs to 1385, up 14 points

Today, Monday, November 20 2017, the Baltic Dry Index climbed by 14 points, reaching 1385 points.

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Dry Bulk Demand: China’s infrastructure sector remains strong, whilst the real estate sector is weakening

China’s National Bureau of Statistics (NBS) released their main macro figures for October this week. The general picture painted is of decelerating growth. We believe Infrastructure and real estate are the key sectors to follow for the Dry bulk industry as these sectors combined constitutes close to 70%* of overall Chinese steel demand. As China’s market share in global steel production is more than 50%, these 2 sectors within China also represents more than 35% of global end user demand for steel. China’s real estate sector constitutes 30%* of end ...

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Baltic Dry Index climbs to 1371, up 10 points

Today, Friday, November 17 2017, the Baltic Dry Index climbed by 10 points, reaching 1371 points.

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Dry Bulk FFA: Capesize Paper Market On A High

Capesize FFA Commentary: An active physical market once again yesterday with rates steady across the board. The paper market saw this as a positive move and the curve lifted especially the prompt contracts with the Nov and Dec recording significant gains. Panamax FFA Commentary: A slower day in general on panamax. Buyers returned across the curve and sellers appeared happy to wait to see if a push materialises. December traded upto $10600 and q1 printed $9700. The backend showed some renewed support with cal18 trading at $10200 and 10250. With ...

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Asia Dry Bulk-Capesize rates to hold steady even as cargo activity eases

Freight rates for large capesize dry cargo ships on key Asian routes could remain around current levels next week as activity eases among miners and traders ahead of year-end, brokers said. Uncertainty over Chinese industrial production and the country’s raw materials import policy are also causing near-term concern, Norwegian ship broker Fearnley said in a note on Wednesday. But capesize rates, which since August have recovered to their strongest levels in three years, are likely to retain their underlying strength until at least the first quarter next year, brokers said. ...

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Baltic Dry Index falls to 1361, down 13 points

Today, Thursday, November 16 2017, the Baltic Dry Index decreased by 13 points, reaching 1361 points.

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Dry Bulk FFA: Capesize Paper Market Retreats

Capesize FFA Commentary: After what looked like a positive start that saw Dec trade up to 16500 and Jan 12500, the paper market stopped dead and retraced on the run up to the index. Despite the drop in the headline figure not being as severe as expected there was little activity as the day played out. Rates did recover a touch towards the end of the day as late rumour TA r/v fixed 23000 circulated but enthusiasm failed to gain any momentum. Panamax FFA Commentary: We saw last nights closing ...

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China’s Iron Ore import in October down from September according to customs data. Trade flow data however, tell a different story…

China imported 79.5Mt of iron ore in October according to official trade data, down 2% YoY and down 25% from the all-time high in September (on an annualized basis). YTD Iron Ore import totals 897Mt, which is up 7% as compared to last year. The full breakdown of the imports will be released later in the month. Klaveness Research says: The 25% drop from the previous month is not reflected in the trade flow data we are monitoring. The trade flow data point to a small 2% drop in seaborne ...

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A Drop In Seaborne Iron Ore Margins

Iron ore prices fell sharply at the tail end of the third quarter, with 62% of iron prices falling 23% between September 13 and October 11, as assessed by S&P Global Platts. Although the price fell 14% below the average for the September quarter, they do not represent a year-to-date low, with a price of just US$54/t being recorded June 13. What is different in this latest fall is that cost inflation is again stalking the industry; market freight rates have held at year-high levels, while energy costs have increased ...

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Baltic Dry Index falls to 1374, down 31 points

Today, Wednesday, November 15 2017, the Baltic Dry Index decreased by 31 points, reaching 1374 points.

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Riding the bulk carrier market cycle: rebalancing after a boneshaking journey

A recurring question arises. Is a long-awaited bulk carrier freight market recovery now under way? Over most of the past decade, this sector has been weak, providing only meagre returns for shipowners. But, after a number of false dawns, improvements in freight rates during 2017 and the causes point to, possibly, a more sustainable upturn unfolding. Market cycle history shows great variations in duration, and the current cycle in the global bulk carrier market is proving to be one of the longest. Historically also, large variations in amplitude have occurred. ...

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The iron ore contango: Why now?

The iron ore forward curve has made history in November by recording the longest period of contango* in its brief existence. On November 1, Platts assessed The Steel Index 62% Fe CFR China swaps in contango from the December strip out to Q2 2018, which has been sustained until now. Forward curve structure Unlike many bulk commodities in recent years, iron ore’s forward curve has remained stubbornly backwardated, with prices further down the curve being lower than those at the prompt. This has puzzled many market observers. In commodity markets ...

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Baltic Dry Index falls to 1405, down 40 points

Today, Tuesday, November 14 2017, the Baltic Dry Index decreased by 40 points, reaching 1405 points.

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Dry Bulk FFA: Capesize Market Under Selling Pressure

Capesize FFA Commentary: Cape paper came under early selling pressure although trading was kept largely to the prompt two months. Rumours Vale were going to fail the previous Friday’s fixtures caused sellers to discount sharply but this only lasted for a short period before support was quickly found. While Nov is pricing in a further decline in the physical the index was reluctant to move south in any significant manner which will bring value hunters back to the prompt contracts. Panamax FFA Commentary: Despite opening weaker again this morning on ...

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