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Dry Bulk FFA: Capesize Market Has Another Positive Day

Capesize FFA Commentary: Another positive day on the physical market which led to new Year highs again on the Index and FFA pricing across the curve. Dec reached $22k but then found significant selling resistance, Cal 18 traded up to $15k and cal 19 14350. Physical remained firm throughout the day although paper felt a little unsure in the afternoon session. Panamax FFA Commentary: With the N Atl still steady to firmer and the Pac being bolstered by the firmer cape sentiment we saw further gains across the curve yesterday ...

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The Last Days Of Coal?

At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030. Britain, Canada, Denmark, Finland, Italy, France, the Netherlands, Portugal, Belgium, Switzerland, New Zealand, Ethiopia, Mexico and the Marshall Islands have joined the Powering Past Coal Alliance. The alliance aims to have 50 members by the next UN climate summit in 2018. The alliance further problematizes the future of coal as a fuel for power generation and, by extension, some aspects of its bulk transport. Non-signatories That being said, some of the ...

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Baltic Dry Index climbs to 1506, up 29 points

Today, Tuesday, November 28 2017, the Baltic Dry Index climbed by 29 points, reaching 1506 points.

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Dry Bulk FFA: Capesize Market Moves North

Capesize FFA Commentary: A very positive day for the big ships as rates moved north in both basins. Weather delays in China forced the Asussie miners to come to the market to replace delayed ships and the C5 gapped up to 9.25-9.30 with reports of a very prompt unit achieving 9.80/mt. The C3 was also very solid with rates picking up to 19.50 with 5-7 ships fixed. The front end of the paper charged up and remains a steep discount to the index suggesting that further paper gains could and ...

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Iron ore drives bulker rally but spot market could be set for New Year fall

The dry bulk market shrugged off Chinese government-enforced cuts in steel production to post more positive freight rates in October, with average monthly spot and 1 Yr T/C rates higher than any month since 2014 for all bulker benchmarks. Iron ore imports to China remain the strongest driving factor despite the downside risks. The most recent steel data available show a slowdown from the very high production levels of Q3, but there is still robust demand for tonnage for ore imports. Iron ore and coking coal prices in China have ...

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Baltic Dry Index climbs to 1477, up 19 points

Today, Monday, November 27 2017, the Baltic Dry Index climbed by 19 points, reaching 1477 points.

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Freight rates surge on commodity boom

Shipping freight rates are rising on the back of the commodity boom. The Baltic dry bulk, tanker segment, and other freight indices are rising fast for the past few months, following good demand in India, China, the Atlantic market, and the Gulf coast. The Baltic dry bulk index is up 45.3 per cent this year even after a small correction in the past few weeks, and has achieved more than a three-year-high level. The Baltic dirty tanker index, reflecting movements in crude oil, in the past three months went up ...

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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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