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Dry Bulk Market

Baltic Dry Index falls to 859, down 19 points

Today, Tuesday, February 28 2017, the Baltic Dry Index decreased by 19 points, reaching 859 points.

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Golden Ocean Looks to Dry Bulk Market’s Second Quarter Recovery In Order to Lower Debt

Golden Ocean Group Limited, a leading dry bulk shipping company, today announced its results for the quarter ended December 31, 2016. Highlights Reports net income of $6.5 million and earnings per share of $0.06 for the fourth quarter of 2016, an improvement of $33.2 million compared with a net loss of $26.7 million and a loss per share of $0.25 for the third quarter of 2016. Adjusted EBITDA in the fourth quarter was $24.2 million compared with $8.6 million in the third quarter of 2016. Reports net loss of $127.7 ...

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Dry Bulk FFA: Holidays Hurt Capesize Market

Capesize FFA Commentary: Capes came under pressure yesterday after another quiet day on physicals and holidays in Brazil, Greece and Taiwan. March and Q2 lost most value as traders felt the momentum on physicals had potentially faltered. However, at lower levels there remained decent buying interest as some felt today presented a good buying opportunity moving into the week. Panamax FFA Commentary: Quiet start to the week with rates slipping on the prompt albeit on thin volume. We appear to see buyers supporting the curve around here (March at 8800 ...

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Baltic index gains for ninth straight session, ends at one-month high

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, notched gains for the ninth straight session to end at a more than one-month high on Monday, helped by higher rates for panamax vessels. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, closed up three points, or 0.34 percent, at 878 points, its highest level since Jan. 24. The panamax index ended 19 points, or 2.01 percent, higher at 966 points. Average daily earnings for panamaxes, which usually carry ...

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Dry Bulk Ship Owner Jinhui says that Reduced Net Fleet Growth Will be Key for Market’s Recovery

The Board of Jinhui Shipping and Transportation Limited (the “Company”) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the “Group”) for the quarter and year ended 31 December 2016. FOURTH QUARTER AND ANNUAL RESULTS Revenue for the fourth quarter of 2016 declined 19% to US$15,932,000, comparing to US$19,723,000 for the corresponding quarter in 2015. The Company recorded a consolidated net loss of US$121,440,000 for current quarter as compared to a consolidated net loss of US$338,429,000 for the corresponding quarter in 2015. Basic loss ...

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Australian Newcastle’s PWCS coal vessel queue at six-week high of nine ships

The vessel queue at the Port Waratah Coal Services terminals at the Port of Newcastle, Australia, was the longest reported in the Hunter Valley Coal Chain Coordinator’s weekly report Sunday for six weeks, but it remained short in comparison to last year’s queues. The queue grew from two ships to nine week on week, which is the second longest queue reported for 2017 to date. The longest queue was 11 ships on January 16. For the first nine weeks of the year, there has been an average of six vessels ...

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Baltic Dry Index climbs to 878, up 3 points

Today, Monday, February 27 2017, the Baltic Dry Index climbed by 3 points, reaching 878 points.

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Top Wheat Buyers Grow More of Their Own to Swell Global Glut

As if the global wheat surplus couldn’t get much worse, some of the biggest buyers may not need as much. That could swell stockpiles already expected to be the biggest ever. Countries in North Africa like Egypt and Algeria — all dependent on foreign wheat to help keep their populations fed — probably will harvest 25 percent more on their own farms this year if the weather is as favorable as expected, the International Grains Council estimates. That means imports from the region could drop from a record high to ...

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Dry Bulk FFA: Capesize Index Looking Upwards

We noted last week that the Capesize index was due an upward move, we also noted that US$ 6,570 was a key level, as a close above here would suggest the longer term downward move has run its course, and this has been the case. The weekly index is once again back above the 55 period MA and the Ichimuko cloud which puts it back into bullish territory. Momentum in the form of the stochastic is currently below 30 and this would support a basing/bullish move within the Capesize market. ...

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Baltic index rises on increased demand across segments

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday on stronger demand across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points, or 2.22 percent, at 875 points. The capesize index gained 31 points, or 2.73 percent, to close at 1,165 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $264 at $9,358. The panamax index was up ...

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Seaborne thermal coal market to see supply dearth by 2030: Noble Group

Demand for seaborne thermal coal is expected to exceed supply by about 400 million mt by 2030, with new coal-fired electricity capacities coming onstream, according to Noble Group. The trading company has estimated that the largest growth in demand would be from additional planned power generation capacities in Southeast Asia, which would reach about 249 million mt by 2030. “By 2030 Southeast Asia imports will be 50% more than the Atlantic coal market,” said Rodrigo Echeverri, head of Energy Coal Analysis, Noble Group, at the Coaltrans Conference, which is currently ...

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Baltic Dry Index climbs to 875, up 19 points

Today, Friday, February 24 2017, the Baltic Dry Index climbed by 19 points, reaching 875 points.

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Asia Dry Bulk-Capesize Rates Up on Increased Traffic

Freight rates for large capesize dry cargo vessels on key Asian routes, which hit multi-week highs on Wednesday, are set to continue to climb next week on buoyant iron ore cargo volumes, brokers said. More than 30 capesize fixtures were reported in the week to Feb. 22, almost double the number in the last two months, according to data on the Reuters Eikon terminal. “The capesize market should continue to push higher for now – it’s all looking good,” a Singapore-based capesize broker said on Thursday. The surge in charters ...

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Dry Bulk FFA: Capesize Paper Market Volatile

Capesize FFA Commentary: Cape paper experinced a volatile day of trading which started with a sharp tick up in Asia. Mar traded 10500, Q2 11400 and Q3 12350 before retracing quickly when Europe opened. Rates did rebound from the lows as rumours of C5 fixing 6.00 and C7 at 7.75 which resultd in an 18% on the 5TC index. The afternoon session was more subdued although rates remained stable and near the highs of the day on most of the curve. Panamax FFA Commentary: The bullish tone persisted today on ...

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Dry Bulk Back From The Brink

Bulker Values in the last 12 months have hit rock bottom and are now looking to show considerable promise. 5-year-old handysize values are up by over 40%; as are 15-year-old Panamax and Supramax asset prices. Pre-2002 built Capes are up by around 35% since February 2016. 1 Year % Change in Value To put the opportunities in perspective, a 2012, Korean-built handysize bulker was sold at USD 6.2 million. Today that vessel is worth USD 12.3 million. Also of note is the Panamax Songa Maru, (2008-built, Tsuneishi Zhoushan). The vessel ...

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