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Dry Bulk Market

Dry Bulk Market: Recovery Prospects Not Threatened by NewBuilding Ordering… For Now

In terms of the dry bulk market’s full recovery, a lot hinges on the pace of newbuilding ordering activity, with many analysts fearing that a boom in fleet growth will set the industry on the wrong foot again. Is this the case though? In its latest weekly report, shipbroker Allied Shipbroking noted that “there has been considerable amount of concern expressed over the past couple of weeks with regards to the increasing level of new ordering being seen, with many now fearful of a repeat of what was witnessed back ...

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Baltic index inches up on increased capesize activity

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, crept higher on Wednesday on firmer capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, inched up 2 points, or 0.18 percent, to end at 1,097 points. “Following seasonal weakness in the dry bulk sector resulting from the Chinese New Year, we believe the outlook for the dry bulk shipping market is both clear and bright,” analysts at Jefferies said in a note on Tuesday. The analysts ...

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Baltic Handysize freight rates hit new 13-month high

Freight rates for Handysize tankers in the Baltic have surged to their highest levels in more than a year as ice builds around the key Russian export ports along the Gulf of Finland, creating restrictions on which vessels charterers can use. The Baltic-UK Continent route, basis 30,000 mt, has risen to Worldscale 212.5, or $15.02/mt, up w47.5 in the past week after a bumpy start to the year. The last time rates were higher, on a dollar/mt basis, was January 6, 2017. Plenty of cargoes are currently available for an ...

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China Jan iron ore imports rise to sixth-highest on record – ship-tracking data

China’s iron ore imports recovered in January to one of the highest levels on record, Thomson Reuters ship-tracking data showed, as steel producers replenished inventories ahead of a week-long holiday and the end of steel output curbs next month. Seaborne shipments of the steelmaking raw material rose to 93.7 million tonnes last month, according to data compiled by Thomson Reuters Supply Chain and Commodity Forecasts. Shipments in February have already surpassed 70 million tonnes, the Supply Chain data showed. The January figure is up from December’s 84.14 million tonnes reported ...

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Australia’s coal exports set new record in 2017

Australia’s coal exports value reached a new record of $56.5-billion in 2017, Minerals Council of Australia coal executive director Greg Evans said on Wednesday. The new coal export value record, at 35% higher than in 2016 and $10-billion higher than the previous record of $46.7-billion in 2011, indicates the strength of Australia’s second-largest export. Iron-ore exports held the top spot with an export value of $63.3-billion. During 2017, 200-million tonnes of thermal coal exports, worth $20.8-billion, had been reported, along with 172-million tonnes of metallurgical coal exports, valued at $35.7-billion. ...

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Baltic Dry Index climbs to 1097, up 2 points

Today, Wednesday, February 07 2018, the Baltic Dry Index climbed by 2 points, reaching 1097 points.

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Dry Bulk FFA: Capesize Market Boosted by Renewed Optimism

Capesize FFA Commentary: Activity and optimism returned to the cape FFA market as we saw increased activity in the physical market and improved rates paid in both basins. The C5 ticked up to 6.65 while C3 once again moved above $15.00/mt. With more of the ballasters being fixed and the cargo list/tonnage list looking more balanced in the Atlantic, the market ‘feels’ better. The CNY holidays are just around the corner mind you and this will, of course, dampen activity at some point. Right now, it feels, good, going forward, ...

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Iron ore exports to China from Australia’s Port Hedland fall to six-month low

Iron ore shipments to China in January from Australia’s Port Hedland terminal fell 11.3 percent from a month ago to 34.7 million tonnes, their lowest since July, port data released on Tuesday showed. That compares with 39.1 million tonnes in December. January imports were 0.6 percent higher than a year ago, the data showed. Total January iron ore shipments from the world’s biggest export terminal for the steelmaking raw material totalled 41.1 million tonnes versus 46.2 million tonnes the previous month, according to the Pilbara Ports Authority. Port Hedland is ...

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Newbuilding Orders Piling Up in Dry Bulk Segment

Increasing confidence in the dry bulk market’s long term recovery has triggered an increasing number of newbuilding orders over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “an interesting week for the Newbuilding market was due, mostly attributable to the Dry Bulk sector, which pulled in its weight this week dominating the reported activity tables this past week. Despite the fact that freight market is showing some slight softening, with the BDI having eased back from its early January levels, ...

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Dry Bulk FFA: Panamax Index Reaches New Highs

Highlights: The Index has recently made a new high, if we hold above the USD 10,517 support then it would suggest that the current move is basing. The stochastic is showing a bear setup (this has near term bullish implications) and this remains in play above USD 10,223 on the weekly chart. Like the index, the Feb and Q2 contracts are also showing bear setups. Technically these are regarded as near term bullish but tend to result in bearish divergences and signal a longer term corrective phase is due. The ...

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Baltic index posts first gain in seven sessions

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, edged up 13 points, or 1.2 percent, to 1,095 points. The capesize index snapped its five-session losing streak and climbed 86 points, or 6 percent, to 1,519 points. It touched its lowest in more than six months on Monday. “We’re seeing a positive reversal ...

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Baltic Dry Index climbs to 1095, up 13 points

Today, Tuesday, February 06 2018, the Baltic Dry Index climbed by 13 points, reaching 1095 points.

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Dry Bulk FFAs: Capesize Market Looking Better For Q2

Capesize FFA Commentary: Early trading saw very prompt periods slip whilst the Q2 onwards proved to be, once again, very resilient. The small drop on the indices gave some hope to buyers that the physical decline has all but stopped. C5 was rumoured to have fixed 6.40-6.45 mid Feb dates whilst other physical information was very thin on the ground over the day. Panamax FFA Commentary: It was a sluggish opening to the week on Panamax paper with levels range bound throughout the day. Feb traded $11100 a few times ...

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South African coal loses Europe, but gains South Asia

A decade ago South Africa sent the bulk of its coal exports to Europe, a market now disappearing right before its eyes. But far from being worried, South Africa’s coal exporters are confident that they can increase shipments in coming years by becoming the supplier of choice to new markets in Asia, particularly Pakistan and India. The common theme among speakers at last week’s South African Coal Export Conference, hosted by IHS Markit, was that South Africa is in pole position to take advantage of growth in South Asia. While ...

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The fundamentals for Indian coal imports continue to look promising

Back in August we reported that the fundamentals impacting Indian coal imports looked more promising Trade flow data today implies 17.4Mt of imports in November 19.0Mt in December and 16.2Mt in January. Based on trade flow data we estimate imports in Oct-Dec 17 to be up about 30% YoY while we estimate imports in January to be up 17% YoY. The positive outlook has thus come into fruition. The combined coal stocks at mines and powerplants has increased from a low point of 36Mt at the end of October to ...

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