Despite the demise of the dry bulk market of late, shipowners appear more optimistic in the long run, something shown by their return to shipyards over the past few days. In its latest weekly report, shipbroker Allied said that “another interesting week took place in the newbuilding market, given the fair number of fresh projects being pushed forward as of late. Despite the sluggish start at the onset of the new year, the dry bulk sector returned on a relatively “strong” course, given the numerous new orders that emerged, focused, ...

The Baltic Exchange’s dry bulk sea freight index fell to its lowest level in a year on Wednesday, pressured by lower rates across all vessel segments The overall index, which factors in rates for capesize, panamax and supramax vessels, slipped 47 points, or 3.5%, to 1,296, its lowest since mid-January 2021. The capesize index dropped 43 points, or 5.8%, to 702, its lowest since June 2020. Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell by $354 to $5,826. Iron ore futures in ...

Ukraine has significantly climbed the ranks in grain exports over the last decade, this year aiming for No. 3 in wheat and No. 4 in corn, though the latest conflict with Russia has instilled fear in markets over whether Ukraine’s export efforts can succeed. The timing of this potential export disruption is poor since the world is still trying to recover from last season’s historic supply tightness and multiyear-high prices across all grains and oilseeds. Traders have clearly expressed their nervousness. At Tuesday’s close, Chicago wheat futures Wv1 were up ...

Delays in shipment of Indonesia’s thermal coal continued due to logistical bottlenecks and impeding paperwork, market sources said Jan. 25, even after the three-week blanket ban on coal exports was eased on Jan. 20. “We are still waiting for a final green light from the government to sail out; some routine paperwork is also taking time,” an Indonesia-based producer said. “We have to clear a lot of pending orders from January that was halted due to the export ban, so we’re waiting to first fulfill those contracts.” Some producers said ...

Today, Wednesday, January 26 2022 , the Baltic Dry Index decreased by 47 points, reaching 1296 points.

Australian iron ore miner Fortescue Metals Group posted a 2% rise in second-quarter shipments, but flagged pressures from strong demand for labour and resources, as well as supply chain constraints due to the pandemic. The world’s fourth-largest iron ore miner shipped 47.5 million tonnes (mt) of the steel-making commodity in the December quarter, compared with 46.4 mt a year earlier. Bigger rivals BHP Group and Rio Tinto have also warned of disruptions from coronavirus-induced labour shortages as Australia faces a surge of Omicron cases. The slightly upbeat production result came ...

The Baltic Exchange’s dry bulk sea freight index fell for a 13th straight session on Tuesday, dragged lower by weaker rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 48 points, or 3.5%, to 1,343, its lowest since mid-February 2021. The capesize index dropped 91 points, or 10.9%, to 745, its lowest since June 2020. Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, dropped by $755 to $6,180. Iron ore futures in China ...

Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to last beyond the initial shortage of available cargoes. The short-term impact of the sudden ban announced on Jan. 1 by the world’s largest exporter of the polluting fuel was to send prices for cargoes from other major shippers soaring back toward last year’s record highs. The longer-term impact is that the key planks of being cheap and reliable, promoted by the coal industry in its battle for ...

Iron ore futures in China and Singapore rose on Tuesday after miner Fortescue Metals Group raised concerns over a labour shortage in Australia because of COVID-19 curbs, which could hamper output and shipments of the steelmaking ingredient. Bigger rivals BHP Group and Rio Tinto have also warned of disruptions from labour shortages as Australia faces a surge of Omicron coronavirus variant cases. Iron ore’s most-traded May contract on China’s Dalian Commodity Exchange ended daytime trading 1.4% higher at 766.50 yuan ($121.14) a tonne, rising for a fifth straight day after ...

Indonesia, the world’s largest crude palm oil (CPO) producer and exporter, started on Monday the implementation of a stricter rule for CPO exports as an attempt to control a surge in domestic cooking oil prices. Under the new rule, which will be applied for six months ahead, palm oil exporters are required to declare how much CPO, refined, bleached, and deodorized (RBD) Palm Olein and Used Cooking Oil (UCO) they have sold, or plan to sell, to domestic market in order to obtain permits for their export. The exporters are ...

Today, Tuesday, January 25 2022 , the Baltic Dry Index decreased by 48 points, reaching 1343 points.

A copper deficit is set to hit trade and the energy transition hard by the end of the decade, according to Rystad Energy. Global demand for the pink metal will outstrip supply by more than six million tonnes by 2030, unless investment in mining is substantially increased. The shortfall threatens to dent the move to renewables and particularly the growth of electric vehicles manufacturing as there is currently no substitute for copper in electrical applications, Rystad said. The analyst projects a 16% rise in copper demand to reach 25.5 million ...

The Baltic Exchange’s dry bulk sea freight index fell for a 12th straight session on Monday, hurt by declining capesize rates. The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 24 points, or 1.7%, to 1,391, its lowest since mid-February 2021. The capesize index slipped 55 points, or 6.2%, to 836, its lowest since June 2020. Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, dropped by $455 to $6,935. Iron ore prices fell on Monday as traders turned ...

Iron ore prices fell on Monday as traders turned cautious ahead of the Spring Festival holidays and Beijing Winter Olympic Games, shrugging off a further liquidity-easing move by China’s central bank. Iron ore’s most-traded May contract on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trading 1.7% lower at 740 yuan a tonne, after stretching last week’s rally up to 771.50 yuan in early trade, its highest since Oct. 13. The steelmaking ingredient’s most-active March contract on the Singapore Exchange SZZFH2 fell 2.7% to $133.30 a tonne, as of 0707 GMT, ...

Today, Monday, January 24 2022 , the Baltic Dry Index decreased by 24 points, reaching 1391 points.