The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, was on its way to registering a weekly gain as higher rates across panamax segment offset losses in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged up 1 point to 1,977 points, adding over 4% so far this week. The capesize index slipped 18 points, or 0.6%, to 3,235 points. However, the index gained more than 4% this week. Average daily earnings for capesize ...

Iron ore futures prices edged higher on Friday but logged a weekly loss, as traders weighed prospects of fresh monetary stimulus from China against the top consumer’s muted economic recovery, while firmer global supply also weighed on prices. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.15% higher at 680 yuan ($96.43) a metric ton. The contract declined 3.41% for the week. The benchmark October iron ore on the Singapore Exchange was 0.99% lower at $91.75 a ton, as of 0325 GMT. China ...

Today, Friday, September 20 2024, the Baltic Dry Index climbed by 01 points, reaching 1977 points.

China’s import and export cargo demand could offer mixed prospects in the coming months. In its latest weekly report, shipbroker Xclusiv said that “China’s exports surged in August at the fastest pace in nearly 18 months. This significant growth, up 8.7% in dollar terms, suggests that manufacturers are rushing to fulfil orders before tariffs imposed by various trading partners take effect. However, imports grew at a much slower rate, increasing by only 0.5% and falling short of expectations. This contrasts with the 7.2% growth seen in July. China’s exports have ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday as rates across vessel segments gained. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 86 points, or 4.6%, to 1,976. The capesize index rose 229 points, or 7.6%, to 3,253 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $1,897 to $26,980. The panamax index climbed 26 points, or about 1.7%, to reach 1,528 ...

Huge grains ships loading up with soy and corn at Argentina’s major inland river ports around Rosario are taking on less cargo as water levels drop to near record lows due to a major drought upstream in Brazil, pushing up costs and transport times. The Parana River, which carries almost 80% of Argentina’s grains and oilseeds for export, is at the second lowest level for this time of year since 1970, behind only a major decline in 2021, data from the Rosario grains exchange show. The drop in river levels, ...

Prices of iron ore futures gained ground on Thursday, as prospects of fresh Chinese monetary stimulus and lower inventories overshadowed concerns of the top consumer’s weakening domestic demand. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.69% higher at 693.0 yuan ($98.10) a metric ton. The benchmark October iron ore on the Singapore Exchange was 2.46% higher at $92.95 a ton, as of 0700 GMT. China is widely expected to trim its main policy and benchmark lending rates on Friday, a Reuters poll ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday as the capesize segment hit its lowest in three weeks. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 11 points, or 0.6%, to 1,890. The capesize index dipped 66 points, or 2.1%, to 3,024 points and hit its lowest since Aug. 28. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $540 to $25,083. The ...

The special focus this week is on the monthly quantity of soybeans and corn exported to China, comparing the current year’s shipments to the growth trends seen in the previous two years. Brazil continues to surpass the U.S. in terms of monthly shipments sent to China, maintaining a dominant position. However, both countries experienced a significant slowdown in the summer months, raising concerns about the overall health of China’s economy and its future demand for grains. This slowdown reflects broader economic uncertainties within China, where the country’s grain reserves are ...

“Between January and August 2024, the number of recycled ships has dropped 42% y/y, the second lowest level in 16 years. The market has seen high freight rates and strong demand, delaying the recycling of older ships. On the supply side, the fleet has continued to grow slowly, limiting fleet renewal,” says Filipe Gouveia, Shipping Analyst at BIMCO. So far this year, only 45 ships have been recycled, adding up to 2.5 million deadweight tonnes (DWT) or 0.2% of the fleet. Recycling declined in all segments, with capesize and supramax experiencing ...

Iron ore futures prices posted their biggest daily fall in nearly two years on Wednesday, weighed down by prospects of stronger global supply and weakening Chinese steel demand. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 4.12% lower at 675.0 yuan ($95.13) a metric ton, marking its steepest daily fall since Oct. 31, 2022. Chinese markets were closed on Monday and Tuesday for a holiday. The benchmark October iron ore on the Singapore Exchange was 1.85% lower at $90.50 a ton, as of ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a second straight session on Tuesday as gains in the panamax segment offset losses in capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 5 points, or 0.3%, to 1,901. The panamax index gained 24 points, or about 1.7%, to reach 1,466 points. The index also registered its highest level in nearly a month. Average daily earnings for panamax vessels, which usually carry 60,000-70,000 ...

China’s steel and iron ore sectors are in an apparent state of disconnect, with steel output trending weaker but imports of the key raw material remaining firm. Production of crude steel slumped 6.1% in August from July, dropping to 77.92 million metric tons, according to data released by the National Bureau of Statistics on Saturday. August’s output was the lowest since December and was also down 10.4% from the same month in 2023, while production over the first eight months of the year was 3.3% weaker at 691.41 million tons. ...

Pilbara Ports delivered a total monthly throughput of 65.8 million tonnes (Mt) in August 2024. This is a five per cent increase when compared to the total monthly throughput in August 2023. The Port of Port Hedland achieved a monthly throughput of 48.6 Mt, of which 47.9 Mt was iron ore exports. This figure is consistent with the total throughput in August 2023. Imports through the Port of Port Hedland totalled 173,000 tonnes, which is 1,000 tonnes more than what was imported through Port Hedland in August 2023. The Port ...

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, supported by increases across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 6 points, or 0.3%, to 1,896. The capesize index added 8 points, or 0.3%, to 3,097 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $64 to $25,684. The panamax index gained 14 points, or about 1% to reach 1,442 ...