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Dry Bulk Market

India’s coal import rises marginally to 212 MT in April-January period

The country registered a marginal rise of 1.65 per cent in coal imports to 212.24 Million Tonnes (MT) in the April-January period of the ongoing fiscal, over the year-ago period. India’s coal import was 208.78 MT in the corresponding period of the previous fiscal, according to data compiled by mjunction services ltd. mjunction services ltd is a B2B e-commerce platform. During the April-January period of the current fiscal, the volume of non-coking coal imports was 136.47 MT, slightly lower than 136.90 MT imported during the same period last financial year, ...

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Iron ore gains on bets of more China stimulus, improved steel margins

Iron ore futures rose on Thursday, buoyed by renewed expectations of further monetary policy easing in top consumer China and improved profitability among certain steelmakers. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 2.72% higher at 849.5 yuan ($118.00) a metric ton, its highestsince March 11. The benchmark April iron ore SZZFJ4 on the Singapore Exchange climbed 3.81%to $109.75 a ton as of 0725 GMT, partly helped by improved risk appetite after the U.S. Federal Reserve maintained its projection of three rate ...

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Dry Bulkers Remain in High Demand Among Shipowners

Dry bulk carriers remain in high demand among shipowners. In its latest weekly report, shipbroker Banchero Costa, said that there were some interesting deals in the dry bulk secotr, concluded in the newbuilding sector last week. According to the shipbroker, “China’s Xiamen Financial Leasing was reported having placed its first newbuilding order ever booking 8 x 64,000 dwt Ultramax at Nantong Xiangyu for a price of $34.5 mln each; vessel will be methanol ready and deliveries are reportedly spread between 2025 and 2028. On smaller sizes, German owner dShip Carriers ...

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Declines in larger vessels drag down Baltic index

The Baltic Exchange’s main sea freight index fell for a second straight session on Wednesday, pressured by losses in the larger capesize and panamax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 108 points, or 4.5%, to 2,284 points. The capesize index was down by 300 points, or 7.5%, at 3,690, its lowest level since Feb. 28. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by $2,492 to $30,601. “The capesize ...

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Reduction in the count of Panamax vessels in ballast status with the ECSA daily volume loaded surpassing the demand benchmark

In the latter half of March, the freight market for large vessel sizes displayed a notable increase in momentum, particularly evident as the vessel count in terms of ballasters experienced an unexpected decline compared to the peak levels observed nearly four weeks prior. Amidst discussions surrounding whether the recent surge in Capesize and Panamax market rates stems from supply or demand dynamics, it becomes evident that the recent tightening of vessel supply serves as a significant upward catalyst. This trend is underscored by recent data indicating a surpassing of demand ...

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Dalian iron ore extends gains on hopes of improving China demand

Prices of Dalian iron ore futures extended gains into a third consecutive session on Wednesday, supported by growing expectations of a wave of production resumption among steelmakers in top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.23% higher at 823.5 yuan ($114.39) a metric ton. Hot metal output, widely used to gauge ore demand, is expected to see some rise this week, analysts at Chaos Ternary Futures said in a note, adding that the mounting cost competitiveness of ore following ...

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Baltic index dips on falling capesize rates

The Baltic Exchange’s dry bulk sea freight index slipped on Tuesday as weaker capesize rates outweighed gains in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 27 points, or 1.1%, to 2,392 points. The capesize index was down by 99 points, or 2.4%, at 3,990. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by $818 to $33,093. Iron ore futures extended gains, amid growing interest for stockpiling in top consumer ...

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Greek buyers most active in the Capesize sector as values increase by nearly 50% in one year

Values for Bulkers have been going from strength to strength this year, up across all ages and size categories. Notably the Capesize and Supramax sectors have seen some dramatic increases, for example in the Capesize sector, values for 20YO vessels of 180,000 DWT have shot up by c.39.6 % from USD 13.86 mil to USD 19.35 mil, the highest levels since 2010. On the other end of the scale, newly delivered 0YO Supramaxes of 60,000 DWT have firmed by c.12.6% since the start of the year from USD 33.44 mil ...

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Port Hedland Iron Ore Exports Steady in February 2024

Pilbara Ports delivered a total monthly throughput of 52.7 million tonnes (Mt) for February 2024. This throughput was a four per cent decrease compared to February 2023. The Port of Port Hedland achieved a monthly throughput of 39.5Mt, of which 38.8Mt was iron ore exports. There was minimal variance to total throughput compared to February 2023. Imports through the Port of Port Hedland totalled 157,000 tonnes, an decrease of three per cent compared to February 2023. The Port of Dampier delivered a total throughput of 12.3Mt, a 16 per cent ...

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Iron ore climbs to nearly one-week high on positive China data, growing spot liquidity

Iron ore futures extended gains into a second straight session on Tuesday to their highest levels in nearly a week, amid growing interest for stockpiling in top consumer China in part spurred by the latest batch of upbeat data. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 5.35% higher at 827 yuan ($114.87) a metric ton, the highest since March 13. The benchmark April iron ore SZZFJ4 on the Singapore Exchange rose 2.91% to $106.9 aton, as of 0743 GMT, also thehighest ...

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US switches method to estimate China’s soy imports after data gap

The U.S. Department of Agriculture has started using global exporters’ data to estimate China’s soybean imports because a wide gap emerged between shipping figures from producing nations and Chinese customs data, a USDA official told Reuters. The change in methodologycomes at a sensitive time for U.S.-China relations and as China is trying to improve its food security plans to rely less on imports. China is the world’s biggest soybean importer and tracking its demand is important for world commodity prices. Chinese customs data that USDA historically used to estimate imports ...

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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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