The Baltic Exchange’s main sea freight index fell to its lowest level since April 2016, dragged down by lower vessels rates across categories. The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, dropped 11 points, or 2.0%, to 546 — its lowest in over 3 years. The capesize index fell 30 points, or 18.2%, to 135. The index registered its 32nd consecutive session of losses, touching its lowest level since April 3 last year. Average daily earnings for capesizes, which typically transport 170,000-180,000 ...

Key points: • Global exports of iron and steel amounted to 541,429,984 metric tons in 2019. It was 553,802,285 metric tons in 2016 which represents a contraction by 2.23%. • Top exporters include China, Russia, Japan, South Korea, and Germany. Top importers include the United States, Germany, Italy, China and South Korea. • China is by far the largest exporter of iron and steel in 2019 having exported 87.3 million metric tons which equals approximately 15.8 % of global exports; it represents a 29.5% decrease from 2016 (a fall of ...

Scorpio Bulkers Inc., yesterday reported its results for the three months ended December 31, 2019. The Company also announced that on January 27, 2020, its Board of Directors declared a quarterly cash dividend of $0.02 per share on the Company’s common shares. Results for the Three and Twelve Months Ended December 31, 2019 and 2018 For the fourth quarter of 2019, the Company’s GAAP net income was $15.1 million, or $0.21 per diluted share, including: a non-cash gain of approximately $46.1 million and cash dividend income of $0.5 million, or ...

Chinese coal imports jumped 7% last year to 300m tonnes as international prices for the fuel plunged to levels too attractive to resist, despite government intentions to keep foreign purchases flat. The world’s biggest coal consumer managed to squeak its total imports in under an unofficial import goal thanks to a plunge in December volumes to just 2.8m tonnes, comprehensive customs data showed on Thursday, confirming preliminary estimates from last week. December’s imports were down from nearly 21m tonnes in November and 73% lower than the same month last year. ...

Just over a week after the U.S. and China signed a critical “phase one” trade agreement, it’s still unclear how a key aspect will play out. China agreed to buy at least $200 billion more in U.S. goods and services relative to the 2017 level over the next two years. The projected purchases include at least $32 billion more in agricultural products, with an unspecified amount of soybeans. So far, doubts remain about how quickly such a ramp-up can occur, especially given seasonality and the fact that Chinese tariffs of ...

Capesize The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chinese New Year it became quickly evident positions had been managed the week before leaving only minimal loose ends to be tied up. Activity levels were never going to be anywhere near enough to counter an over-tonnaged Asia region. The Atlantic fared the worst of the two basins, dropping from $14,440 to $8,475 as what few vessels available were more than enough for the minimal cargoes ...

The shipping industry has been looking forward to a trade deal between the US and China for quite some time now. As a result, the latest positive development is expected to boost the fortunes of both the dry bulk and the tanker markets, but also to increase demand for vessel acquisitions among shipowners. In its latest weekly report, shipbroker Intermodal said that “it seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticipated deal ...

The Baltic Exchange’s main sea freight index fell to an over three year low on Friday, with the capesize segment marking its biggest weekly loss since March 1999. The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 19 points, or 3.3%, to 557 — lowest since April 2016. The index has lost more than 26% this week, registering its biggest weekly percentage loss in nearly a year. The capesize index fell 42 points, or 20.3%, to 165 and is at its lowest ...

Today, Friday, January 24 2020, the Baltic Dry Index decreased by 19 points, reaching 557 points.

Coal imports by power producers in the country rose by 17.6 per cent during April-December this fiscal to 52.48 million tonnes compared to 44.64 million tonnes a year ago, according to a Central Electricity Authority data. The data also showed that the surge in dry fuel import, recorded during first nine months of this fiscal, was mainly due to higher consumption by firms like Adani Power and state-owned power giant NTPC, among others. Adani Power’s Mundra plant alone imported 12.83 million tonnes of coal during the first nine month of ...

Trying to see the shipping market’s “glass” as “half-full”, shipbrokers are estimating that even under the worst-case scenarios, when it comes to the future growth of the global economy, shipping should manage. In its latest weekly report, shipbroker Allied Shipbroking said that “with 2019 having posted the slowest growth figure in a decade for the global economy according to last week’s report by the UN and with both the UN and IMF having posted significant downward revisions for their projections of economic growth for the year ahead, it looks as ...

The Baltic Exchange’s main sea freight index fell to a near one-year low on Thursday, dragged by weaker demand across vessel segments. The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 47 points, or 7.5%, to 576 — lowest since early February The capesize index slipped 118 points, or 36.3%, to 207. The index registered its 30th consecutive session of losses, touching its lowest level since April 3. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore ...

South Africa’s Richards Bay Coal Terminal (RBCT) said on Thursday exports fell nearly 2% last year to 72.15 million tonnes, their lowest level since 2014, in part because the monsoon season reduced demand from top customer India. RBCT stuck to a target of exporting 77 million tonnes for 2020, the same target as last year’s, which it did not meet. Bad weather resulted in 39 days being lost, up from 36 in 2018. “It’s been a very tough year,” said Nosipho Siwisa-Damasane, RBCT chairwoman. Asia was by far the top ...

Today, Thursday, January 23 2020, the Baltic Dry Index decreased by 47 points, reaching 576 points.

The Baltic Exchange’s main sea freight index fell to its lowest since February on Wednesday, hurt by a seasonal slowdown in demand amid higher costs for shipowners due to a new regulation for shipping fuels. The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 66 points, or 9.6%, to 623. The capesize index slipped 170 points, or 34.3%, to 325. The capesize index registered its 29th consecutive session of losses, touching its lowest level since April last year. Average daily earnings for ...