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Dry Bulk Market

Panamax Market Looks Like It Could Enter A Corrective Phase

Panamax Index Weekly Resistance – 12,478, 14,773, 16,728 Support – 12,172, 9,403, 7,968 Technically the trend remains bullish with continued higher highs and higher lows resulting in a break in upside resistance levels last week. However, Panamax rates in the index this week have been negative, and we are seeing pricing back below the US$ 12,478 resistance level. Failure to hold above the US$ 12,478 level would suggest we are about to enter into another corrective phase, as this is a natural point of resistance. The stochastic at 96 is ...

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Baltic index falls nearly 4 pct to weakest since mid-December

The Baltic Exchange’s main sea freight index marked its biggest percentage decline since mid-December on Friday as rates for larger vessels dipped due to limited activity. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 3.86 percent. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 48 points at 1,195, its weakest since March 22. “Capesize and panamax vessels remain under pressure to close the week as both the Pacific and Atlantic markets remain rather quiet,” Clarksons ...

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Baltic Dry Index falls to 1195, down 48 points

Today, Friday, April 21 2017, the Baltic Dry Index decreased by 48 points, reaching 1195 points.

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Dry Bulk: Newbuilding Prices Inch Higher

A slight increase in demand, at least in terms of enquiries, has prompted shipbuilders to try to move newbuilding prices for dry bulk units to higher ground. In its latest weekly report, Allied Shipbroking noted that “despite the slight slow down in activity partly due to the Easter holidays, it seems as though the underlining trend in prices offered by shipbuilders is still on a gaining path. Quotes especially for dry bulk units are rumored to be on the increase, with many shipbuilders finding the opportunity that has been presented ...

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Falling capesize rates weigh down Baltic index

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday on sliding rates for capesize vessels, weighed further by weaker panamax demand. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 35 points, or 2.74 percent, at 1,243 points. The capesize index lost 139 points, or 6.53 percent, to 1,991 points, its lowest in over a month. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were ...

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Scorpio Bulkers Inc. Trims First Quarter Losses on Improved Dry Bulk Market

Scorpio Bulkers Inc. reported its results for the three months ended March 31, 2017. Results for the Three Months Ended March 31, 2017 and 2016 For the first quarter of 2017 the Company’s GAAP net loss was $34.6 million, or $0.48 loss per diluted share. For the same period in 2016 the Company’s GAAP net loss was $58.3 million, or $1.96 loss per diluted share. For the first quarter of 2017, the Company’s adjusted net loss was $16.4 million or $0.23 adjusted loss per diluted share, which excludes a write ...

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Rio Tinto maintains iron ore guidance despite challenging Jan-Mar quarter

Rio Tinto’s iron ore shipments guidance for 2017 remains on track despite a challenging first quarter, the company said in its quarterly production results released Thursday. The miner’s Western Australian Pilbara iron ore operations produced 77.2 million mt — Rio Tinto’s share was 63.6 million mt — in the quarter, down 3% year on year and 10% from the October-December quarter, it said. “Production and sales were both impacted by significant weather disruptions, which resulted in heavy flooding across several sites including the rail network, along with the suspension of ...

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Baltic Dry Index falls to 1243, down 35 points

Today, Thuersday, April 20 2017, the Baltic Dry Index decreased by 35 points, reaching 1243 points.

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Baltic index down on weaker rates for larger vessels

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1.24 percent, at 1,278 points. The capesize index lost 90 points, or 4.05 percent, to end at 2,130 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $630 at $15,524. The panamax index snapped a seven ...

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Dry Bulk Market’s Rally Has Reached Its Peak For Now Says Shipbroker

The dry bulk market’s first quarter strong performance has verified all those analysts who were expecting a rebound of freight rates, on the back of increased demand and lower net fleet growth. However, according to shipbrokers, it seems that for the time being, this latest rally has completed its course and could find it difficult to discover additional support for another jump. In its latest weekly report, shipbroker Allied Shipbroking noted that “having gone through the first quarter of the year and with the Easter break having no come and ...

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Capesize FFA: Fresh lows in May contract suggest market has entered into a corrective phase

Capesize May 2017 Daily Support – 12,960, 11,655, 11,030 Resistance – 14,436, 15,781, 16,700 The divergence between the stochastic and price mentioned on last week’s report has resulted in a failure to make fresh market highs and the May futures have now entered into a corrective phase. The May futures have now made a lower low and the stochastic is showing a bearish cross and it is below the 70 line which is often used as a signal line. Any upward moves from here that fail at the US$ 15,781 ...

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China’s import of iron ore to propel dry bulk shipping demand in 2017

China’s import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shipping of grains. This is emphasised by an accumulated growth rate for Q1-2017 of 9.5% compared to the same quarter of 2016. Furthermore, it is the highest imported amount of seaborne iron ore for a first quarter. The growth rate of Chinese imported iron ore in 2016 was constant throughout the year, as the annual volume broke into landmark territory. Both the total iron ore ...

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Dryships Inc. Announces Acquisition Of Three Modern Kamsarmax Drybulk Vessels

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has entered into agreements with unaffiliated third parties to acquire: One 81,918 DWT Kamsarmax drybulk carrier built in 2014. The Company expects to take delivery of this vessel during the second quarter of 2017. Two 81,129 DWT Kamsarmax drybulk carriers built in 2014. The purchase of these two second-hand Kamsarmaxes was previously announced and the Company has now physical inspected and accepted the vessels. The Company expects to take delivery of the vessels during the second quarter ...

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Baltic Dry Index falls to 1278, down 16 points

Today, Wednesday, April 19 2017, the Baltic Dry Index decreased by 16 points, reaching 1278 points.

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Dry Bulk FFA: Capesize Market On “Holiday” Mode

Capesize Commentary: Today was a non event. The physical continued to trend down while the paper merely drifted. The front end of the curve continues to hold a decent premium over spot which is surprising given the lack of activity in the physical. Maybe next week we see more action. Have a good weekend. Panamax Commentary: A quiet end to the week with rates unchanged. Have a good weekend. Supramax Commentary Supramax paper suffered a very dull and relatively quiet day with activity very limited. With much of the curve ...

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