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Dry Bulk Market

Baltic Dry Index climbs to 1727, up 25 points

Today, Monday, December 11 2017, the Baltic Dry Index climbed by 25 points, reaching 1727 points.

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China Nov iron ore imports soar to one of highest levels on record

China’s iron ore imports rebounded in November to one of the highest levels on record, with appetite in the world’s top buyer remaining strong even as Beijing forced steel mills to slash output as part of its war on winter smog. Shipments of the steelmaking material rose 18.9 percent to 94.54 million tonnes in November from the previous month and were up 2.8 percent from a year ago, data from the General Customs of Administration showed on Friday. That was the fifth highest on record. Total arrivals for the first ...

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Too much capacity can hinder the dry bulk market’s recovery in 2018

The dry bulk market looks to be on a tight rope as it balances its way out of the doldrums. Overcapacity will still linger on as 2018 is about to enter the foray. In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), BIMCO’s Chief Shipping Analyst Peter Sand says that demolition levels are set to fall, compared to 2017, as rates are improving, while trade levels aren’t expected to return to the height of the current fourth quarter, before the third quarter of 2018. The second half of the ...

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Dry Bulk FFA: Capesize Market Looking Promising Moving Forward

Capesize FFA Commentary: Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation. Buyers gobbled up the nearby contracts like a ravenous teenager with the entire curve seeing considerable gains. The December v January spread is still trading around $10,000 suggesting that should the physical hold up here that further rises could very well be on the cards. Panamax FFA Commentary: Active close to the week on Panamax paper with levels gradually improving throughout the day ...

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India: ‘No need to import coal’

The Union ministry of power made a startling claim that coal import was not necessary owing to improved generation and availability, thus exposing the Mahagenco which was importing costly coal. An affidavit in this regard was filed in the Nagpur bench of Bombay High Court last week by deputy director in Central Electricity Authority (CEA), Neerja Verma. A division bench comprising justices Bhushan Dharmadhikari and Swapna Joshi asked the Mahagenco to reply on the ministry’s claims. The court was hearing a PIL by activist Anil Wadpalliwar through counsel Shreerang Bhandarkar ...

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India: 76% dip in iron ore exports, industry jittery

Goa’s mining industry is in a recessionary phase as the ore export have fallen by over 76% in the first two months of current season compared to the corresponding period of the previous year. According to Goa mineral ore exporters association (GMOEA), the industry exported 2.84 million tonnes of iron ore in October-November last, but it came down to 0.68 million tonnes this year for the corresponding period. “Buyers in China and Japan seek higher grade. Generally, Goa exports below 58 grade ore, which is exempted from export duty,” a ...

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Dry Bulk FFA: Panamax Index Looking Bearish

Panamax Index- Technically bearish below USD 12,579 as we approach the Bollinger band after 10 consecutive up days on an overbought stochastic suggesting momentum could be weakening. However a close above USD 12,579 would put the index back into bullish territory (if not overbought) and increase the probability of a higher low forming on a market pullback. • Dec – This technical is pretty dangerous. Upside moves would be counter trend based on the MA’s and suggest upside is limited, meanwhile a fresh low would create a bullish divergence. Caution. ...

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Baltic Dry Index climbs to 1702, up 23 points

Today, Friday, December 08 2017, the Baltic Dry Index climbed by 23 points, reaching 1702 points.

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Dry Bulk FFA: Capesize Market Regains Some Ground

Capesize FFA Commentary: Cape paper regained some ground early trading but the promise of a tighter Atl market and C5 fixing flat didn’t bring much change to the FFAs. With an index approaching 30k there seem to be a lag in prompt month rates. All eyes on the physical for the last day of the week! Panamax FFA Commentary: Pmx paper was gradually bid up throughout the morning session as optimism on a better ATL market fueled the buying which saw Dec and Jan trading up to $12900 and $11350 ...

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Dry Bulk FFA: Capesize Market Looking Bullish For the First Quarter of 2018

Capesize Index appears to be technically bullish above USD 20,626. However at USD 13,000 above the 200 period MA we are starting to look over extended. • Dec – A bullish trending environment but a large mean reversion gap with the 50 period MA is a concern. Market sellers should remain cautious with price action above the longer term means, even if we do see a lower high and lower low. • Cape Q1 18 – Over extended and starting to correct, recent market pullbacks have been short lived in ...

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Asia Dry Bulk-Capesize rates hit 3-year high, to remain firm on ship shortage

Freight rates for large dry cargo ships on key Asian routes, which hit three-year highs this week, could stay around the current levels or nudge slightly higher if shortage of vessels for prompt hire continued, brokers said. “It’s a good lead up to Christmas for the capesize market,” a Singapore-based capesize broker said on Thursday. “The market is taking a breather. I can see rates holding near where they are if not moving up a bit,” the broker said. Owners are resisting charterers’ attempts to push rates lower from Australia ...

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Baltic Dry Index climbs to 1679, up 9 points

Today, Thursday, December 07 2017, the Baltic Dry Index climbed by 9 points, reaching 1679 points.

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Dry Bulk FFA: Capesize Market Jumps Back Into Rising Action

Capesize FFA Commentary: The paper market bounced off yesterdays lows yesterday as the physical market continues to hold at these solid levels. The C5 ticked back up to $9.70 while the tonnage count in the Atlantic remains thin. There was less volume changing hands yesterday in the paper market and with the current backwardation still steep, it is not beyond the realms of possibility that the paper continues to make further ground if the physical holds strong. Panamax FFA Commentary: We tested support early on yesterday on Panamax paper with ...

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Wooden dams and river jams: U.S. strains to ship record grains

America’s worst traffic jam this fall occurred on the Ohio River, where a line of about 50 miles of boats hauling grains and other products turned into a waterborne parking lot, as ship captains waited for the river to reopen. Such delays are worsening on the nation’s waterways, which are critical to commerce for the United States, the largest grain exporter in the world. Of the country’s $40 billion in annual grain and soybean exports, about 60 percent is moved by barges on rivers, including the Ohio. The shutdown, caused ...

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November coal exports from Australia’s Gladstone sink to seven-month low of 5.4 mil mt

Volume of shipped coal from Gladstone in Queensland, Australia, slumped to a seven-month low of 5.40 million mt in November, with weak exports to its three biggest destinations: Japan, India and China, data from the Gladstone Ports Corporation showed Wednesday. The November volume is down 13% from 6.23 million mt a year ago, and 7% lower than 5.79 million mt shipped in October, the data shows. Last month’s export figure is the smallest volume sent in a single month since April when throughput was still limping from the impact of ...

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