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Dry Bulk Market

Baltic index logs weekly gain on strong capesize demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Friday to mark a weekly gain on the back of higher rates for capesize and supramax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 13 points, or 0.7%, to 1,997. The index rose 2.5% this week. The capesize index rose 63 points, or 2.1%, to 3,142, marking its highest level since May 10. It recorded a weekly gain of 6.3%. Average daily earnings for ...

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Iron ore heads for 4th weekly fall on talk of China steel curbs

Iron ore futures prices slipped on Friday and were on track for a fourth straight weekly loss, amid talk in the market of a cap on crude steel output in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade down 1.7% at 811.5 yuan ($111.76) a metric ton, the lowest since June 17. It posted a weekly fall of 1.8%. The benchmark July iron ore SZZFN4 on the Singapore Exchange was down 1.59% at $105 a ton, as of 0708 ...

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China’s coal imports from Russia rise to eight-month high in May

Russia’s coal shipments to China rose to the highest level in eight months in May after Moscow suspended export duties, official data showed. Russia’s coal exports to China rose to 9.1 million metric tons in May, according to Chinese customs administration data. That was up 1.5% on the year and the highest level since September. Shipments were expected to rise in the short term after Russia suspended export duties during May to August, a China coal industry association said last month. China’s shipments from Australia rose 24% to 6.7 million ...

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Baltic index hits more than one-month high on strong capesize demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, hit more than a one-month high on Thursday on the back of by higher capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 41 points, or 2.1%, to 1,984, its highest level since May 14. The capesize index rose 152 points, or 5.1%, to 3,079, marking its highest level since May 13. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ...

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China May soy imports from US soar; Brazil arrivals drop for first time this year

China’s soybean imports from the U.S. accelerated in May with a 156% surge from a year earlier, data showed on Thursday, while supplies from Brazil shrank for the first time this year amid flooding disruption in the South American country. The world’s biggest soybean buyer imported 1.27 million metric tons of the oilseed from the U.S. last month, compared with 494,103 tons in the same month a year earlier, showed data from the General Administration of Customs. That was still far less than imports from Brazil at 8.8 million tons, ...

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Iron ore trades in a tight range as investors weigh China demand

Iron ore futures prices were stuck in a tight range on Thursday as traders weighed high portside inventories and prospects of crude steel output cuts in top consumer China against production resumption at some steelmakers. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 0.36% lower at 824.5 yuan ($113.56) a metric ton. The benchmark July iron ore SZZFN4 on the Singapore Exchange was down 0.33% at $106.95 a ton, as of 0705 GMT. It climbed more than 1% in the morning session, ...

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Baltic index snaps 5 sessions of gains as larger vessel rates dip

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped a five-session winning streak on Wednesday, weighed down by lower capesize and panamax vessel rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged lower 18 points, or 0.9%, to 1,943. The capesize index lost 39 points, or 1.3%, to 2,927. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, was down $318 at $24,278. Iron ore futures pared ...

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Dry Bulk Market Demand Dynamics – Panamax P6

This week’s chart (on the right) illustrates the correlation between the number of ballast vessels for Panamax-size ships in the ECSA region and the evolution of P6 $/mt freight rates. Meanwhile, the left chart examines the daily volume loaded (14-day moving average) in comparison to the current demand benchmark, which shows an increase above the benchmark. Additionally, there is a noticeable decline in the number of ballast vessels, coinciding with a strong upward trend in freight rates. In March, the trend indicated another decrease in the number of ballast vessels, ...

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Iron ore struggles for direction as prospect of China steel output cut weighs

Iron ore futures pared early gains on Wednesday and struggled for a clear direction, as market discussions over potential steel production cuts in top consumer China weighed on prices of the key steelmaking ingredient. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.36% lower at 824 yuan ($113.55) a metric ton, after touching an intra-day high of 835.5 yuan a ton earlier in the session. Similarly, the benchmark July iron ore on the Singapore Exchange narrowed gains to trade 0.5% higher to $107 ...

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India: Govt aims to eliminate coal imports by FY26

The coal ministry will seek to reduce the import of the dry fuel to nil by FY26. To achieve the same, it will operationalise 20 new mines in the current fiscal year, including 12 with a total capacity of 58 million tonnes in the first 100 days of the new government. The government is confident of producing 1.08 billion tonnes of coal in the current financial year while reducing imports. In FY24, the country’s coal sector companies cumulatively imported 265 million tonnes of coal, up from 245 million tonnes in ...

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Baltic index hits more than one-month high as capesize rates rise

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to its highest level in more than a month on Tuesday as rates for capesize and supramax vessels increased. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 13 points, or 0.7%, to 1,961, its highest level since May 14. The capesize index gained 28 points, or 0.9%, to 2,966. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, ...

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Iron ore pares gains after talks of China steel control

Iron ore futures prices rebounded on Tuesday, but were off their session high as investors booked profits following market talks of controlling steel output in the southern province of Fujian in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) gave up earlier gains to end daytime trade 0.24% higher at 820.5 yuan ($113.08) a metric ton. They had hit an intra-day high at 840 yuan a ton earlier, rebounding from a drop in the previous session. The benchmark July iron ore SZZFN4 on ...

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India’s coal import rises 13% to 26 MT in April: mjunction

India’s coal import rose by 13.2 per cent to 26.10 million tonne (MT) in April 2024 as buyers took fresh positions amid early onset of summer. The country had imported 23.05 MT of coal in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd. This comes amid coal and mines minister G Kishan Reddy stating that India should increase domestic production of the fossil fuel and reduce coal imports. “India’s coal and coke imports in April 2024 through the major and non-major ports increased by ...

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Dry Bulk Second Hand Ships in High Demand

Demand for second hand bulkers has been quite strong since the start of 2024. In fact, according to the latest data, as reported by the latest weekly analysis from Intermodal, “the dry bulk sale and purchase activity has demonstrated remarkable strength this year, achieving the second-largest volume of transactions in the sector’s history, surpassed only by the record of 403 sales in 2021. Notably, in the first five months of 2024, 362 dry bulk sales (>20kdwt) were recorded, representing an increase of 87 transactions compared to the same period in ...

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Baltic Index Flat As Gains In Smaller Vessels Offset Weaker Capesize

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was steady on Monday as gains in the panamax and supramax segments offset a decline in capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was unchanged at 1,948. The capesize index slipped 19 points, or 0.6%, to 2,938. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, was down $162 at $24,363. Iron ore futures prices slid after ...

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