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Dry Bulk Market

Dalian iron ore slides as weak steel market weighs

Dalian iron ore futures prices slid on Wednesday, weighed down by a persistently weak steel market and lack of big-ticket stimulus in top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.23% lower at 881.5 yuan ($122.44)a metric ton. “Traders have shifted their focus back to reality after the important meeting and iron ore prices may feel further pressure from the weak steel market,” analysts at Sinosteel Futures said in a note. Policymakers in the world’s second-largest economy on Tuesday set ...

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Baltic Dry Index falls to 2176 down 115 points

Today, Wednesday, March 06 2024, the Baltic Dry Index decreased by 115 points, reaching 2176 points.

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India: Government extends mandate for power producers to import 6% of coal requirements until June 2024 amidst domest

With domestic coal movement constrained due to logistical bottlenecks, including issues with the railway network, the import provision serves as a crucial stopgap measure to bridge the shortfall in coal supply. Government extends mandate for power producers to import 6% of coal requirements until June 2024 amidst domestic supply constraints The Ministry of Power, in a notification dated March 4, announced that the government has extended the mandate for power producers to import 6% of their coal requirements until June 2024. This decision comes amidst logistical challenges hampering the movement ...

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CO2 emissions from coal shipping stay strong in 2020 as green pressures grow

Carbon emissions produced from seaborne coal exports stayed steady last year despite the impact of the coronavirus on consumption, a study showed on Wednesday, although the sector faces growing environmental scrutiny. Coal is among the biggest commodities transported by the dry bulk shipping sector and European countries have already scaled back usage as they look for greener alternatives. Research published on Wednesday by independent climate think tank Ember showed seaborne coal exports were estimated to account for 3.1 billion tonnes of CO2 produced in 2020, or some 10% of total ...

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Baltic index ticks down as capesize losses offset gains in smaller vessels

The Baltic Exchange’s dry bulk sea freight snapped a 12-session winning streak on Tuesday, as pressure from lower capesize rates outweighed gains in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 0.3% at 2,291 points. The capesize index snapped its nine-session rising streak, shedding 57 points, or 1.4%, to 4,148. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $471 to $34,402. Iron ore futures prices were mixed, as ...

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China bought at least 65,000 T Ukrainian corn, traders say

Chinese importers are believed to have purchased at least 65,000 metric tons of animal feed corn from Ukraine in deals on Monday, European traders said on Tuesday. The precise volume was unclear. Some traders estimated the purchase at two to three shipments each of 60,000 to 65,000 tons, with a total of up to 195,000 tons. Traders estimated the price at around $236 ton c&f including shipment to China in April. This follows previous Chinese purchases of Ukrainian corn of between 240,000 to 600,000 tons reported on Feb. 27. China ...

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Iron ore futures mixed as investors assess China’s economic targets

Iron ore futures prices were mixed on Tuesday, as investors digested a raft of key economic targets set by policymakers in top consumer China’s annual meeting of the National People’s Congress. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.69% higher at 879.5 yuan ($122.17) a metric ton. However, the benchmark April iron ore SZZFJ4 on the Singapore Exchange slipped 1.23% to $114.2 a ton as of 0718 GMT. As widely expected, the Chinese government is targeting economic growth of around 5% this ...

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Malaysia sees strong palm oil demand from India, China this year, minister says

Malaysia Plantation and Commodities Minister on Tuesday told an industry conference the country expected strong demand for palm oil from key markets such as India and China this year. The government is working tirelessly for its palm oil certification to be accepted, Johari Abdul Ghani said, adding it must manage negative perceptions toward the edible oil. Source: Reuters (Reporting Danial Azhar, Bernadette Christina ,Writing by Fransiska Nangoy; Editing by Martin Petty)

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Baltic Dry Index falls to 2291 down 06 points

Today, Tuesday, March 05 2024, the Baltic Dry Index decreased by 06 points, reaching 2291 points.

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Bulkers Slowing Down to Comply With Emission Rules

Sailing speeds of older ships in particular have slowed down considerably, as a result of the latest emission reduction rules. In its latest weekly report, shipbroker Intermodal said that “the integration of the Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) regulations, in conjunction with the Emissions Trading System, appears to have indirectly limited the availability of shipping tonnage by influencing vessel speeds. Through the analysis of vessel tracking data, it has been observed that the average speed of bulk carriers has decreased to a current low ...

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Baltic index climbs to more than 2-month high on firm vessel rates

The Baltic Exchange’s dry bulk sea freight hit a more than two-month high on Monday, on robust demand across all vessel segments. The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, was up 94 points, or 4.3%, at 2,297 points, its highest since Dec. 15. The capesize index .BACI gained 228 points, or 5.7%, to 4,205, also a more than two-month high. Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $1,888 to ...

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China robust commodity imports confound weak economy narrative

In stark contrast to the ongoing weakness in China’s key manufacturing index, the imports of key commodities by the world’s second-biggest economy are roaring ahead. China’s imports of crude oil, liquefied natural gas (LNG), coal and iron ore were all stronger in the first two months of 2024 than for the same period last year, according to data from commodity analysts Kpler and LSEG Oil Research. Yet, though robust commodity imports appear at first glance to be out of alignment with soft property construction and manufacturing data, they can be ...

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Dalian iron ore falls on slow demand recovery, doubts on long-term China outlook

Dalian iron ore futures prices extended their decline on Monday, dragged down by slow near-term demand recovery and growing doubts on mid-to-long-term prospects for the key steelmaking ingredient in top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) gave up some earlier losses andended daytime trade 0.11% lower at 890 yuan ($123.63) a metric ton, after touching an intra-day low of 860.5 yuan. “Ore demand remained under pressure amid lower-than-expected hot metal output and we do not see any strong driving factors for a ...

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Baltic Dry Index climbs to 2297 up 94 points

Today, Monday, March 04 2024, the Baltic Dry Index climbed by 94 points, reaching 2297 points.

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Dry Bulk Market: Capesizes Keep Momentum High

Capesize The week started with a modest increase on the BCI 5TC, accompanied by steady activity in the Pacific and relatively calm conditions in the Atlantic. As the days progressed, the Pacific market saw increased activity and rising rates, particularly highlighted by a significant surge mid-week, driven by strong cargo demand. There were reports of more than 10 vessels fixed from West Australia to China, resulting in the C5 index rising by $1.075 to $12.160. In the Atlantic there was an influx of new cargo for both trans-Atlantic and fronthaul ...

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