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Dry Bulk Market

First shipment of iron ore from Vale’s new S11D mine en route to Asia

Brazil’s Vale SA, the world’s No.1 iron ore miner, is ready to send its first commercial shipment of the steel-making ingredient from its largest-ever new mine in the Amazon known as S11D. “Vale loaded Friday 26,500 tonnes of iron ore onto three ships at the company’s port of Ponta de Madeira.” The company, which cut the ribbon on the massive state of Pará-based project last month, said 26,500 tonnes of iron ore were loaded onto three ships at the company’s port of Ponta de Madeira, in Sao Luis, on Friday. ...

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Colombian thermal coal exports rise 9% in 2016 to record 88 mil mt

Colombia exported a record 88.10 million mt of thermal coal in 2016, rising 9% year on year, data from Colombian shipping agent Deep Blue showed. The largest taker of Colombian thermal coal during the year was the Netherlands at 17.26 million mt, although the volume edged 1% lower than in 2015. Turkey was sent 15.91 million mt in 2016, jumping 38% from the previous year. Other countries that saw noticeable year-on-year gains in 2016 were Chile at 5.12 million mt, up 16%, as well as India and South Korea at ...

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Baltic Dry Index climbs to 952, up 30 points

Today, Wednesday, January 18 2017, the Baltic Dry Index climbed by 30 points, reaching 952 points.

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Dry Bulk FFA: Capesize Market for February seen at $8,400 – 9,250/day

Capesize Commentary: If the early jump in prompt paper rates seemed a little sharp then the subsequent sell off could be described as overdone. Feb traded in a range of 8400 – 9250 and never quite made it back to the early highs but, with Tub/Qdao moving above $13 we closed the day well supported. Panamax Commentary: Despite a positive opening on Panamax paper we ultimately gave way to some more aggressive selling post index as the lack of activity off the underlying and growing tonnage count saw prompt support ...

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India: Iron ore shipments surge 154% through major ports

Iron ore cargo through major ports has logged the sharpest growth among all commodities in April-December period. Till the end of December, iron ore shipments were up from 12.7 million tonne (mt) to 32.4 mt, a rise of 154 per cent. In terms of iron ore traffic, Mormugao port was the biggest gainer with a volume of 9.34 mt compared to 1.49 mt in the year-ago period. Led by iron ore, the Mormugao port recorded the highest growth of 62.51 per cent among all the major ports. Waiver of 30 ...

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Euroseas Ltd. Announces Delivery of Newbuilding Ultramax Drybulk Carrier

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it took delivery of the previously announced acquisition of the newbuilding Hull DY 160, to be renamed Alexandros P, a 63,500 dwt fuel efficient Ultramax drybulk carrier built in January 2017. Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to complete the acquisition of Alexandros P, an Ultramax drybulk carrier the construction of which we have supervised over the last two ...

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Baltic Dry Index falls to 922, down 3 points

Today, Tuesday, January 17 2017, the Baltic Dry Index decreased by 3 points, reaching 922 points.

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Less pain but not much gain for dry bulk market in 2017 says MSI

The surge in spot earnings at the end of 2016 was welcome, but MSI warns not to rely on a continuation of this short term strength London, January 16, 2017. The dry bulk market’s strong end to 2016 is unlikely to last long into 2017, according to the latest research from Maritime Strategies International. In its latest quarterly dry bulk market report*, MSI predicts a depressed year for rates in 2017, a year marked by multiple risks to recovery. Stronger freight markets in Q4 2016 had been broadly expected by ...

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Baltic Dry Index climbs to 925, up 15 points

Today, Monday, January 16 2017, the Baltic Dry Index climbed by 15 points, reaching 925 points.

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Baltic Dry Index Starts to Unravel, But Post Lunar New Year Holiday Optimism Persists

Following some surprise resilience thanks to weather woes, the BDI has succumbed to downside pressure and after a few sessions of declines is now below 900 points. Heavy pollution in northern China created a backlog of vessels waiting to be unloaded at ports, and the potential for a cyclone in Western Australia has been on the BDI’s radar, but the BDI has still slowly retreated. This is somewhat positive considering we are in the season where a rapid collapse in the BDI’s price is typical. The weather woes were only ...

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Shipowners Keep Loading Up With More Dry Bulk Carriers as They Await Market’s Recovery

Shipowners, many of them Greek, have kept adding dry bulk carriers on their fleets, as they are waiting for the market to recover. Until that happens though, shipbroker Advanced Shipping &Trading noted, in its latest weekly report, that despite last year’s optimism, the market didn’t manage to post a substantial rebound until the final quarter of 2016. As such, many analysts were expecting this trend to continue during the first quarter of 2017 as well, but so far, the Baltic Dry Index has witnessed a slow start to the year, ...

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World seaborne coal trade fell 1.5 pct in 2016 – German importers

World coal seaborne trade fell 1.5 percent last year due, among other reasons, to a slowdown in big exporter Venezuela and less demand in the United States, German coal import lobby VDKI said on Friday. VDKI, whose 69 member companies buy supplies from countries such as Russia, Colombia, Australia and South Africa, put world coal seaborne trade – imports and exports – last year at 1.1 billion tonnes. World coal demand was 7 billion tonnes. Following are highlights from a speech delivered at VDKI’s annual reception on Jan. 13 by ...

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Thirty-Two Tons a Second Shows China’s Record Iron Appetite

Iron ore imports by China surged to a record above 1 billion metric tons last year as unexpectedly strong steel production and lower local mine output combined to fire up demand in the world’s top buyer for cargoes from Australia and Brazil, supporting a rebound in prices. Asia’s top economy imported 1.024 billion tons in 2016, up 7.5 percent from a year earlier, according to customs data issued on Friday: that’s about 32 tons a second, according to Bloomberg calculations. Purchases last month totaled about 89 million tons, compared with ...

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India: Coal imports fell by 25% to 14.31 MT in December

Coal imports fell by 25% to 14.31 million tonnes in December, due to higher availability of domestic fuel. The country had imported 19.15 million tonnes of coal in December 2015. “Coal import (all type of coals) in December 2016 stood at 14.31 million tonnes (provisional) against 19.15 MT in December 2015,” mjunction, an online procurement and sales platform floated jointly by state-run SAIL and Tata Steel said. The coal import in November, 2016 was at 12.51 MT. “…year-on-year imports were lower because public sector power generation companies have virtually stopped ...

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China still the determining factor of Dry Bulk Market’s Rise or Fall

With the news that China imported a record amount of iron ore during 2016, but still, the dry bulk market, wasn’t able to capitalize due to glut of vessels, one can easily realize where rates would be in the event of a sudden drop in Chinese demand for dry bulk goods. So, while predictions are hard to make and even harder to be accurate, due to the volatility which has engulfed the segment, shipbrokers are looking for different clues in order to make their educated guesses. In its latest weekly ...

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