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Chinese Iron Ore Imports: Holding Strong

Chinese seaborne iron ore imports have grown robustly in the year to date, and are currently projected to reach 1,074mt in full year 2017, accounting for more than 70% of global seaborne iron ore imports and around a third of the expected growth in total seaborne dry bulk trade this year. What factors have driven the firm expansion in China’s seaborne iron ore imports in 2017 so far? As Hard As Iron After a period of slower growth in Chinese seaborne iron ore imports in 2015, expansion picked up in ...

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Dry Bulk FFA: Capesize Market Loses Traction

Capesize FFA Commentary: Cape paper failed to gain any traction Friday despite the index still making modest gains as the week drew to a close. The fact the FFAs held their ground over a very quiet day could be construed as bullish but only further physical news next week will give us something more solid to hold on to. Good weekend to all. Panamax FFA Commentary: The trend of the last few days continued yesterday with buying interest early on before liquidity dried up in the afternoon. Prompt periods were ...

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Baltic Dry Index climbs to 1458, up 13 points

Today, Friday, November 24 2017, the Baltic Dry Index climbed by 13 points, reaching 1458 points.

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Dry Bulk FFA: Panamax Market Gains Further Ground

Capesize FFA Commentary: Capes pushed quickly yesterday morning with reports of C5 fixing from $8.75 then rapidly moving towards $9.25 by midday. November traded upto $22k and December $20k before finding selling resistance. Cal 18 touched a new high of $14700 and cal 20 traded 14k then 14100. Volumes and activity were better than recent days / weeks as traders looked to adjust positions given the sharp increase in the morning session. Panamax FFA Commentary: Panamax paper added further gains across the curve today, largely attributed to piggybacking on the ...

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Dry Bulk Market Looking in Good Shape Until the end of 2017

In its latest weekly report, shipbroker Allied Shipbroking said that “it has been a tough couple of weeks for the dry bulk market, with the brakes having been applied by charterers once more and rates rolling back slightly as the market went silent in terms of fresh interest. We seemed to be on the verge of a gradual downtrend that if it were so would continue through into the New Year. In the midst of this however, there still seems to be some positive momentum reserved in the background which ...

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Asia Dry Bulk-Capesize rates may rise further on more cargo charters

Freight rates for large dry cargo ships on key Asian routes are set to climb further amid tightening vessel supply from increased chartering activity and shipment delays due to unfavourable weather in China, brokers said. Bad weather delays in China have disrupted future sailing schedules while recent charters have committed ships to load cargoes in late November and early December. These have reduced the number of ships available for charter, brokers said. “I think rates will push up in both basins (the Atlantic and Pacific) in December that will give ...

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Baltic Dry Index climbs to 1445, up 32 points

Today, Thursday, November 23 2017, the Baltic Dry Index climbed by 32 points, reaching 1445 points.

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Dry Bulk FFA: Capesize Market on Another Positive Day

Capesize FFA Commentary: Another positive day for the big ships as the Atlantic continues to edge higher and the paper remains at a discount to the spot. Some good volume changed hands today as buyers gained confidence. We are now at the years high’s for the December contract and the technicals suggest that the upward momentum is starting to wane. An interesting end to the week is in store if the IOS continues in its journey to the moon. Panamax FFA Commentary: An uptick in activity in both basins has ...

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Capesize Market to Rally Until at Least the First Quarter of 2018 Says Shipbroker

Despite a looming iron ore imports’ curb from China, shipbrokers like Cotzias Intermodal Shipping appear to be optimistic about the medium-term prospects of the Capesize market. In its latest report, the shipbroker did mention that “China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world combined. Beijing’s war on smog has concentrated on the country’s steelmaking hubs near the capital where mandated cuts of as much as 50% came into actual effect last ...

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Dry Bulk FFA: Capesize In Bullish Phase

In a market range, but technically bullish. Upside moves that make fresh market highs will create a bearish divergence and market buyers should remain cautious on bullish breakouts because of this. • Dec – The fresh market high has put the Dec futures in bullish territory. However we are now seeing a bearish divergence in the market and this would suggest we could soon see another corrective phase. • Cape Q1 18 – A bullish technical that is already reacting to the bearish divergence in the market. Caution on a ...

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Baltic Dry Index climbs to 1413, up 17 points

Today, Wednesday, November 22 2017, the Baltic Dry Index climbed by 17 points, reaching 1413 points.

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Dry Bulk FFA Commentary: Capesize Market Eases

Capes eased across the curve yesterday as the physical market was quieter in the Pacific and on Atl F/H. Dec found some support around $18k and q1 around $11600. The more deferred trading was thin and notably thin on the bidside. Cal 19 traded a couple of times at 13700. Panamax FFA Commentary: With optimism beginning to wane as we enter the 2nd half of Q4 and a sluggish physical market doing little to entice otherwise we saw sellers stepping up their ideas today. Prompt contracts gave up ave $300 ...

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Navios Maritime Holdings Inc. Says Dry Bulk Time-Charter Equivalent Revenues up by 5.2% to $9,481 per day in the Third Quarter

Navios Maritime Holdings Inc., a global, vertically integrated seaborne shipping and logistics company, reported financial results for the third quarter and nine months ended September 30, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am very pleased with our results for the third quarter of 2017, for which we reported revenues of $120.6 million and adjusted EBITDA of $31.2 million.” Angeliki Frangou continued: “On November 14, 2017, we successfully refinanced the 8.125% Senior Unsecured Notes that were maturing in 15 months, with $305.0 million of 11.25% Senior Secured ...

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Baltic Dry Index climbs to 1396, up 11 points

Today, Tuesday, November 21 2017, the Baltic Dry Index climbed by 11 points, reaching 1396 points.

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Dry Bulk Ship Owner Golden Ocean Rides the Wave of An Improving Freight Market

Golden Ocean Group Limited, a leading dry bulk shipping company, today announced its results for the quarter ended September 30, 2017. Highlights · Net income of $0.4 million and earnings per share of $0.00 for the third quarter of 2017, compared with net loss of $12.0 million and loss per share of $0.10 for the second quarter of 2017 and net loss of $26.7 million and loss per share of $0.25 for the third quarter of 2016. · Adjusted EBITDA of $40.4 million for the third quarter of 2017 compared ...

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