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Dry Bulk Market

Capesize Market to Rally Until at Least the First Quarter of 2018 Says Shipbroker

Despite a looming iron ore imports’ curb from China, shipbrokers like Cotzias Intermodal Shipping appear to be optimistic about the medium-term prospects of the Capesize market. In its latest report, the shipbroker did mention that “China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world combined. Beijing’s war on smog has concentrated on the country’s steelmaking hubs near the capital where mandated cuts of as much as 50% came into actual effect last ...

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Dry Bulk FFA: Capesize In Bullish Phase

In a market range, but technically bullish. Upside moves that make fresh market highs will create a bearish divergence and market buyers should remain cautious on bullish breakouts because of this. • Dec – The fresh market high has put the Dec futures in bullish territory. However we are now seeing a bearish divergence in the market and this would suggest we could soon see another corrective phase. • Cape Q1 18 – A bullish technical that is already reacting to the bearish divergence in the market. Caution on a ...

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Baltic Dry Index climbs to 1413, up 17 points

Today, Wednesday, November 22 2017, the Baltic Dry Index climbed by 17 points, reaching 1413 points.

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Dry Bulk FFA Commentary: Capesize Market Eases

Capes eased across the curve yesterday as the physical market was quieter in the Pacific and on Atl F/H. Dec found some support around $18k and q1 around $11600. The more deferred trading was thin and notably thin on the bidside. Cal 19 traded a couple of times at 13700. Panamax FFA Commentary: With optimism beginning to wane as we enter the 2nd half of Q4 and a sluggish physical market doing little to entice otherwise we saw sellers stepping up their ideas today. Prompt contracts gave up ave $300 ...

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Navios Maritime Holdings Inc. Says Dry Bulk Time-Charter Equivalent Revenues up by 5.2% to $9,481 per day in the Third Quarter

Navios Maritime Holdings Inc., a global, vertically integrated seaborne shipping and logistics company, reported financial results for the third quarter and nine months ended September 30, 2017. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am very pleased with our results for the third quarter of 2017, for which we reported revenues of $120.6 million and adjusted EBITDA of $31.2 million.” Angeliki Frangou continued: “On November 14, 2017, we successfully refinanced the 8.125% Senior Unsecured Notes that were maturing in 15 months, with $305.0 million of 11.25% Senior Secured ...

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Baltic Dry Index climbs to 1396, up 11 points

Today, Tuesday, November 21 2017, the Baltic Dry Index climbed by 11 points, reaching 1396 points.

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Dry Bulk Ship Owner Golden Ocean Rides the Wave of An Improving Freight Market

Golden Ocean Group Limited, a leading dry bulk shipping company, today announced its results for the quarter ended September 30, 2017. Highlights · Net income of $0.4 million and earnings per share of $0.00 for the third quarter of 2017, compared with net loss of $12.0 million and loss per share of $0.10 for the second quarter of 2017 and net loss of $26.7 million and loss per share of $0.25 for the third quarter of 2016. · Adjusted EBITDA of $40.4 million for the third quarter of 2017 compared ...

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Dry Bulk FFA: Capesize Market On Higher Ground

Capesize FFA Commentary: Another positive day for the bigger ladies with rates pushing in both oceans for both time charter and voyage fixtures. The paper market gradually edged higher as well with the December contract changing hand numerous times at 18500, the Q1 moving up above 12000 and the Cal 18 trading at 14350 and 14400. The curve remains capped in the short term as doubts remain over the longevity of the physical push and December being a notoriously fickle month. However, the lack of sellers for the January contract ...

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Australian PWCS coal terminals’ vessel queue falls to six ships

Port Waratah Coal Services’ two terminals at Newcastle port in eastern Australia had six ships waiting offshore Sunday, down from 12 ships a week ago, the Hunter Valley Coal Chain Coordinator said in a report Sunday. The ship queue for the PWCS terminals is expected to be fewer than five vessels at the end of November, the coal chain coordinator said. The PWCS terminals shipped 2.4 million mt of coal exports in the week ended Sunday, up 608,900 mt from a week earlier, and the month-to-date exports totaled 5.2 million ...

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Baltic Dry Index climbs to 1385, up 14 points

Today, Monday, November 20 2017, the Baltic Dry Index climbed by 14 points, reaching 1385 points.

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Dry Bulk Demand: China’s infrastructure sector remains strong, whilst the real estate sector is weakening

China’s National Bureau of Statistics (NBS) released their main macro figures for October this week. The general picture painted is of decelerating growth. We believe Infrastructure and real estate are the key sectors to follow for the Dry bulk industry as these sectors combined constitutes close to 70%* of overall Chinese steel demand. As China’s market share in global steel production is more than 50%, these 2 sectors within China also represents more than 35% of global end user demand for steel. China’s real estate sector constitutes 30%* of end ...

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Baltic Dry Index climbs to 1371, up 10 points

Today, Friday, November 17 2017, the Baltic Dry Index climbed by 10 points, reaching 1371 points.

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Dry Bulk FFA: Capesize Paper Market On A High

Capesize FFA Commentary: An active physical market once again yesterday with rates steady across the board. The paper market saw this as a positive move and the curve lifted especially the prompt contracts with the Nov and Dec recording significant gains. Panamax FFA Commentary: A slower day in general on panamax. Buyers returned across the curve and sellers appeared happy to wait to see if a push materialises. December traded upto $10600 and q1 printed $9700. The backend showed some renewed support with cal18 trading at $10200 and 10250. With ...

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Asia Dry Bulk-Capesize rates to hold steady even as cargo activity eases

Freight rates for large capesize dry cargo ships on key Asian routes could remain around current levels next week as activity eases among miners and traders ahead of year-end, brokers said. Uncertainty over Chinese industrial production and the country’s raw materials import policy are also causing near-term concern, Norwegian ship broker Fearnley said in a note on Wednesday. But capesize rates, which since August have recovered to their strongest levels in three years, are likely to retain their underlying strength until at least the first quarter next year, brokers said. ...

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Baltic Dry Index falls to 1361, down 13 points

Today, Thursday, November 16 2017, the Baltic Dry Index decreased by 13 points, reaching 1361 points.

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