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Dry Bulk Market

Dry Bulk Market On Firmer Ground

Capesize A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Transatlantic coal runs were paying near the mid-teens for standard capes with rates tipping over US$9.00 for the Colombia/Continent coal run. Charterers with INL breach cargoes had to pay a hefty premium with a cargo booked from Port Cartier to Rotterdam at US$9.30. Brazil/China activity also increased, absorbing the ballasters with a 10-19 March 170,000-tonne 10% cargo fixed from Tubarao to Qingdao at US$16.75. In the ...

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Baltic index gains nearly 2 pct on capesize rally

The Baltic Exchange’s main sea freight index on Friday marked its best day in over two weeks, led by stronger demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose for the fourth straight day and was up 19 points, or 1.72 percent at 1,125 points. The index logged its biggest one-day percentage gain since Jan. 24. The capesize index gained 128 points, or 7.7 percent, to 1,790 points. With a 22 percent jump, the index saw its best week ...

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Indian demand for South African coal rises: sources

Indian buyers have increasingly been seeking higher-CV thermal coal from South Africa recently as US material has become more expensive and Chinese buying has mopped up any available volumes from Indonesia, traders said. “Usually [Indian buyers] bought 4,800 kcal/kg NAR and 5,500 kcal/kg NAR coals, but now they are also buying 5,700 kcal/kg NAR,” a Europe-based trader of South African coal told S&P Global Platts. The source added that US-origin North Appalachian coal (NAPP) coal had been priced out of the market after strong bids from India in recent months ...

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Ship lineup grows as truck strike slows Argentina grain exports

Some 93 cargo ships were waiting on Friday to load soy and corn from Argentina’s main exporting hub of Rosario, more than a week into a truck owners strike, the spokesman for an industry group said. That was up sharply from just over 60 on Thursday, said Andres Alcarez, spokesman for export company chamber CIARA-CEC. Truckers owners went on strike last week in a bid to force the adoption of mandatory minimum grains hauling rates. The work stoppage also slowed the unloading of beans at soyoil and meal manufacturing sites. ...

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India’s Wheat Imports Seen Surging 40% on Winter Crop Stress

India’s wheat imports are set to surge as lower plantings and poor rain threaten output in the world’s biggest grower after China. Imports may total 3.5 million metric tons in the year from April 1, according to the median estimate of eight traders and analysts surveyed by Bloomberg. That compares with the U.S. Department of Agriculture’s estimate of 2.5 million tons for 2017-18. Output is seen falling to a three-year low of 92 million tons in 2017-18 from 98.4 million tons estimated by the government for 2016-17. Key to the ...

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Value of Australia’s coal exports hit record high $44.21 bil in 2017: industry

The value of Australia’s coal exports hit a record high A$56.5 billion ($44.21 billion) in 2017, topping the previous record set in 2011 of A$46.7 billion, the Minerals Council of Australia said. “Historically coal has been Australia’s biggest export earner and these trade numbers confirm its ongoing strength and significant contribution to the economy,” MCA said in a statement. The exports from the neighboring eastern states of New South Wales and Queensland comprised thermal and metallurgical coal and were up 35% year on year, it said. Thermal coal exports in ...

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Baltic Dry Index climbs to 1125, up 19 points

Today, Friday, February 09 2018, the Baltic Dry Index climbed by 19 points, reaching 1125 points.

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Dry Bulk FFA: Capesize Market Pushing for Higher Ground

Capesize FFA Commentary: Capes continued to push higher yesterday with Feb trading up to $13900 and March $16900 before finding selling resistance. Q2 forward remained very thin offer side and thus trades concluded were minimal. Cal 20 traded 16000 and Cal 21 15200. Apr v Q2 push into positive territory which seemed to attract interest from various. Q2 v Q3 tightened up closer to -1200 levels where many spread sellers had been previously keen to sell. Panamax FFA Commentary: It was a similar trend yesterday on Panamax paper with the ...

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China Jan iron ore imports up 9% to 100 mil mt on seasonal demand: Commerzbank

Iron ore imports into China in January rose around 9% year on year to around 100 million mt, with demand from seasonal effects to mill operations and trade, investment bank Commerzbank said. Iron ore imports last month reached their second highest monthly level ever, the German bank said, citing China Customs data. The Lunar New Year was celebrated in January in 2017, which may have slowed trade and dragged on imports in the comparative period, Commerzbank said. Some extra ore restocking may be needed as steel mills have been idled ...

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Demolition Activity Stagnates, Trigerring Fears of a Slower Shipping Market Recovery

With the fragility in the dry bulk market’s recovery already noted and the rebound in the tanker market both hinging in solid levels of ships’ scrapping, as well as newbuilding delivery delays and slippages, the demolition activity so far in 2018 doesn’t seem to bode well for the future. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with yet again another stagnate week in the recycling market, at least we had the Indian budget to wait for, although the usual anticipation and hype usually seen appeared to ...

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Baltic index rises for third day on higher Capesize rates

The Baltic Exchange’s main sea freight index inched up for the third straight session on Thursday as higher capesize rates offset weakness across all other vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was up 9 points, or 0.82 percent, at 1,106 points. The capesize index gained 84 points, or 5.32 percent, at 1,662 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $737 to $13,208. The ...

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China iron ore imports hit 2nd-highest on record on restocking

China’s iron ore imports jumped to the second highest level on record in January as the world’s top buyer built stockpiles ahead of the Lunar New Year holiday and the lifting of steel production curbs next month. Shipments of the steelmaking raw material in January climbed 19 percent from December to 100 million tonnes, customs data showed on Thursday. The January number was just below the record 102.8 million tonnes that arrived in September. It was also up from 91.99 million tonnes that arrived in January last year. Analysts had ...

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Coal buyers spooked by Indonesia’s new shipping rules -Assoc

Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would restrict exports to Indonesian vessels, an industry association said on Thursday. Jakarta issued rules in October requiring coal and palm oil exporters to use Indonesian-flagged vessels and Indonesian insurance companies, to boost the role of the archipelago’s shipping industry in its export market. However, guidelines on implementing the rules and possible exemptions have not been released, raising concerns among shippers in Indonesia, the world’s ...

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Baltic Dry Index climbs to 1106, up 9 points

Today, Thursday, February 08 2018, the Baltic Dry Index climbed by 9 points, reaching 1106 points.

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Dry Bulk FFA: Capesize Market Pushing Higher

Capesize FFA Commentary: The looming holidays and a sizeable premium from paper to spot didn’t prevent the FFAs from pushing up again yesterday. Despite an early tick up, the prompt was left largely unchanged on the day, while Q234 received most of the focus and pushed up to 19700 in the afternoon session. Rumours Star Martha fixed 26k f/h to India and Alpha Faith fixed at $16.25 for c3 (poss sudeste) kept the market supported up to the close. Whether the physical can keep pushing at a rate that supports ...

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