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Dry Bulk Market

Dry Bulk Market: Capesize Market in Mixed Mode

Capesize For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 route were being fixed in the upper eight-dollar level for usual 170,000dwt vessel, 10% cargo. FMG fixed a Newcastlemax for end-November, loading at $8.65. By the end of the week there was a softer tone and the route ended being marked close to $8.75. Kepco covered a couple of Australia cargos to Youngheung, loading end-November. There was talk of Saldanha Bay to ...

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EuroDry Ltd. Expects Profitable Fourth Quarter on Improved Market Conditions

EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today its results for the three- and nine-month period ended September 30, 2019. Euroseas Ltd. (“Euroseas” or “Former Parent Company”) contributed to the Company seven subsidiaries comprising its drybulk fleet of six vessels, one Ultramax and two Kamsarmax vessels built between 2016 and 2018, and three Japanese-built Panamax vessels built between 2000 and 2004 (the “Spin-off”). The Company was spun-off from Euroseas Ltd. on May 30, 2018. Historical comparative period reflects the ...

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Baltic index posts losses for fifth straight week

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Friday to register its fifth consecutive weekly decline, as softer panamax and supramax rates offset an uptick in capesize demand. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 7 points to 1,357. The index posted losses for the 5th straight week, its longest losing streak in nine months. The capesize index rose 12 points, or 0.5%, to 2,635 points. Average daily earnings for capesizes, which typically transport ...

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Baltic Dry Index falls to 1357, down 7 points

Today, Friday, November 15 2019, the Baltic Dry Index decreased by 7 points, reaching 1357 points.

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Uni-Asia Recorded Highest 9-month Profits in 5 Years, Expects Dry Bulk Market Rebound in Coming Months

Uni-Asia Group Limited, an alternative investment company, asset manager and integrated service provider of vessels and properties, announced its financial results for the three months and nine months ended 30 September 2019 (“3Q2019” and “9M2019” respectively). Charter income decreased by 7% from US$29.4 million in 9M2018 to US$27.4 million in 9M2019. The total number of wholly-owned/majority-owned ships contributing to the Group’s charter income was 11 for 9M2019 compared to 12 for 9M2018 as a vessel was disposed in April 2018. Dry bulk market deteriorated badly in 1H2019, although in 3Q2019, ...

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Brazilian corn muscles in on turf of U.S. Exporters

Brazilian corn exporters are enjoying a banner year thanks to a big crop and improved logistics, burnishing the country’s status as a top global corn supplier and threatening the United States’ traditional dominance in the arena. The United States is likely to remain the leading exporter for now, but Brazilian corn has recently been capturing more business from traditional U.S. customers than before. Some of that is due to this year’s circumstances, but some of the gains could be more permanent. Through October, Brazil had exported 34.7 million tonnes of ...

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Ship Owners Adopting “Defensive” Tactics

Ship owners are adopting a rather conservative approach, when it comes to their new investments in the market, given the amount of uncertainty there is on the market. In its latest weekly report, shipbroker Intermodal said that “the improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as the BDI surpassed the 2,500 points level at the beginning of September, everyone in the market got excited about what was coming next, with the upcoming low sulphur regulations ...

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Baltic index inches lower on weaker panamax rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched lower on Thursday, as lower panamax rates offset a rise in capesize rates. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down 1 point, or 0.1%, at 1,364 points. The capesize index rose 58 points, or 2.3%, to 2,623 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $292 to $20,961. The panamax index fell 33 points, or ...

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Baltic Dry Index falls to 1364, down 1 point

Today, Thursday, November 14 2019, the Baltic Dry Index decreased by 1 point, reaching 1364 points.

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Chinese importers buy U.S. soybean cargoes despite ports congestion

Chinese commercial importers made new purchases of U.S. soybeans this week, according to two sources, even as up to 2 million tonnes of American cargoes were waiting to offload at ports in China as its stockpiler looked for storage room. Soybean crops are seen ready for harvest as farmers struggle with the impacts of weather and ongoing tariffs resulting from the trade war between the United States and China that continue to effect their agricultural businesses in Ottumwa, Iowa U.S. October 5, 2019. Chinese commercial crushers have bought up to ...

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China’s Jiangsu province to halt imports of coking and thermal coal: sources

Coal market participants in Jiangsu, China, have received notice from Jiangsu port agents of an impending halt to imports of coking and thermal coal, sources said Wednesday. Two Chinese thermal coal trading houses said they were notified by their port agents during the afternoon to expedite the process of custom declarations for all upcoming imported coal at ports in Jiangsu. “We are trying to submit all documents for affected cargoes for custom declarations at ports in Jiangsu and defer the laycan for other shipments of coal,” a South China-based thermal ...

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Baltic index edges higher on strong capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Wednesday as higher capesize rates offset a decline in panamax and supramax rates. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was up 11 points, or 0.8%, at 1,365 points. The capesize index climbed 80 points, or 3.2%, to 2,565 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $636 to $20,669. The panamax index slipped 37 points, ...

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Australia’s Port Hedland iron ore shipments to China slip in October

Pilbara Ports Authority has delivered a total monthly throughput of 56.5 million tonnes (Mt) for the month of October 2019. This throughput was a 2% decrease compared to the same month in 2018. The total throughput for the 2019/20 financial year to date is 232Mt, which is an increase of less than 1% from the same time last year. The Port of Port Hedland achieved a monthly throughput of 42.5Mt, of which 42Mt was iron ore exports. The monthly throughput was a 4% increase from October 2018. Imports through the ...

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Baltic Dry Index climbs to 1365, up 11 points

Today, Wednesday, November 13 2019, the Baltic Dry Index climbed by 11 points, reaching 1365 points.

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Baltic index snaps 10-day losing streak as capesize rates rise

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Tuesday after ten straight sessions of losses as rates for capesize vessels jumped. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was up 9 points, or 0.7%, at 1,354 points. The capesize index climbed 92 points, or 3.8%, to 2,485. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $643 to $20,033. The panamax index slipped 39 points, or ...

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