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Dry Bulk Market

Dry Bulk Market Offers Reasons for Continued Optimism

The rally in the dry bulk market during most of the third quarter has offered owners of dry bulk carriers, many reasons to be optimistic about the long term sustainability of a new period of growth for the segment. In its latest weekly report, shipbroker Allied Shipbroking said that “a mere breath away from the start of Q4 and most (if not say all) parties involved in the dry bulk market couldn’t be anything less than happy with the current prevailing market conditions. With the BDI having reached new high ...

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Dry bulk ships speed up to cash in on bullish market; CO2 emissions a concern

Bumper earnings from operating dry bulk ships hauling commodities such as iron ore, coal, and grains, have incentivized shipowners to speed up their vessels, which in turn is possibly amplifying carbon emissions from this segment. The multi-year record dry bulk freight rates have forced the average sailing speed of these ships to a decade high with shipowners cranking up their vessel engines starting from the smaller Handysize to the larger Capesizes. The time charter rates across all dry bulk vessel segments have risen sharply in 2021 compared with weak freight ...

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Baltic index dips on weak capesize rates, posts weekly gain of nearly 9%

The Baltic Exchange’s main dry bulk sea freight index slipped on Friday due to a decline in capesize rates, although the main index posted a weekly gain of 8.6% Gains this week, which saw the index scale a 12-year peak, were supported by port congestion, shipping constraints and an overall rebound in commodities, analysts said. The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell 7 points, or 0.2%, to 4,644 on Friday. The current supply picture in shipping sector is the best it has ...

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China’s pledge to cut project finance is the ‘new normal’ for coal

Australia and Indonesia, the world’s biggest coal exporters, face an accelerated decline in global demand for their coal shipments after China said it would stop building coal-fired power plants overseas, analysts, environmental groups and industry officials said. Chinese President Xi Jinping announced the move at the United Nations General Assembly on Tuesday, prompting environmental campaigners to predict a direct impact on major coal exporters. Beijing’s pledge is the latest blow for Australian and Indonesian coal miners as more energy systems globally make the shift to renewables, however, the Australian industry ...

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Dalian iron ore futures track spot prices higher, demand outlook remains dull

China’s benchmark iron ore futures gained for the second straight session on Friday, rising more than 4% following gains in spot market, though demand for the steelmaking ingredient is expected to stay cool amid environment-related curbs. The most-traded iron ore futures on the Dalian Commodity Exchange DCIOcv1, for January delivery, gained as much as 4.2% to 696 yuan ($107.74) per tonne in morning session. They closed up 2.5% on Friday and gained 8.8% this week. Spot prices of iron ore with 62% iron content for delivery to China SH-CCN-IRNOR62 increased ...

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Dry Bulk Trading Patterns Shifting

The tension in the relationship between Australia and China, already evident since the start of the pandemic, hasn’t abated until now. On the contrary, it seems to be worsening, which in turn, is causing an upset to regular dry bulk trade patters. In its latest weekly report, shipbroker Intermodal commented that “the unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of collaboration, but at its core is an agreement to start consultations to help Australia acquire a ...

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Strong rates across vessels propel Baltic index to 12-year peak

Strong rates across dry bulk vessel segments drove the Baltic Exchange’s main sea freight index to their highest since 2009 on Thursday. The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 91 points, or 2%, to 4,651, to hit its near 12-year peak. Shipping analysts have attributed the recent rally in the dry bulk market to global shipping constraints, including port congestion in China, and an overall rebound in commodities. The capesize index increased by 238 points, or 3.3%, to 7,438, also hitting its ...

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Shipping ETF (BDRY) at a New 52-Week High

For investors looking for momentum, Breakwave Dry Bulk Shipping ETF BDRY is probably a suitable pick. The fund just hit a 52-week high and is up 408.2% from its 52-week low price of $6.10/share. Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed: BDRY in Focus The fund provides long exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices. It has AUM of $93.3 million and charges 3.32% ...

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Coking coal hits 2-week high as China struggles with tight supply

Chinese metallurgical or coking coal futures soared to a two-week high as supply concerns resurfaced, pushing prices of steelmaking ingredient coke higher. The most-traded January coking coal DJMcv1 on China’s Dalian Commodity Exchange rose as much as 7.7% to 3,044 yuan ($470.62) a tonne, its strongest since Sept. 10. It was up 6.2% at 3,002 yuan, as of 0700 GMT. Coke DCJcv1 advanced 4.1% to 3,482 yuan a tonne. Coking coal and its processed form – coke – are this year’s top gainers in China’s ferrous metal complex. Dalian coking ...

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Baltic Dry Index climbs to 4651 up 91 points

Today, Thursday, September 23 2021 , the Baltic Dry Index climbed by 91 points, reaching 4651 points.

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Bulkers in Demand as Freight Rates Go From Strength to Strength

Demand for dry bulk second hand carriers has seen a marked increase over the course of the past week, with many deals being reported. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, it was a very vibrant week, with the intense interest from buyers retaining second-hand asset prices at firm levels for yet another week. We witnessed several deals emerging last week with focus being spread across different size and age classes, depicting the overall bullish sentiment in the segment. On the back ...

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Baltic index hits 12-year peak on firmer vessels rates

The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rates across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 150 points, or 3.4%, to 4,560, its highest since November 2009. Strong iron ore and coal trades are driving dry bulk rates higher, brokerage Jefferies said in a note. “Congestion and other inefficiencies related to COVID-19 and geopolitical tensions are benefiting the dry bulk market by removing ...

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China’s 2021-25 met coal market seen balanced, scrap usage to cut coal demand

China’s metallurgical coal supply and demand during the 14th Five Year Plan period (2021-25) is expected to remain balanced, on the back of higher steel scrap usage expectations that could eat into coking coal demand, sources said this week. The National Development and Reform Commission sees China’s 2025 steel scrap usage rising to 320 million mt on carbon neutrality goal, its latest data showed. China used 260 million mt steel scrap back in 2020, replacing 410 million mt 62% iron ore. China is aiming to reach carbon neutrality by 2060, ...

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Baltic Dry Index climbs to 4560 up 150 points

Today, Wednesday, September 22 2021 , the Baltic Dry Index climbed by 150 points, reaching 4560 points.

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Strong gains across vessels steer Baltic index to 12-year peak

The Baltic Exchange’s main dry bulk sea freight index rose for a third straight session on Tuesday, hitting a near 12-year high, driven by higher rates across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 106 points, or 2.5%, to 4,410, its highest since Nov. 2009. Analysts have attributed the recent rally in the dry bulk market to global shipping constraints, including port congestion in China and an overall rebound in commodities demand. “The market momentum and seasonality historical trends heavily ...

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