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Dry Bulk Market

India’s coal import declines about 4% to 19 million tonnes in July

India’s coal import declined by 3.7 per cent to 18.93 million tonnes (MT) in July this year from 19.67 MT in the same month a year ago. Of the total coal imports in July 2019, non-coking coal shipment was at 12.66 MT, coking coal’s was at 4.17 MT, among others, according to a provisional compilation by mjunction services based on monitoring of vessels’ positions and data received from shipping companies. “Against a modest increase in import in June, volumes during July dropped because of softer demand for power during monsoon ...

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Dry Bulk Market: Capesize Market Still on Correction Mode

Capesize The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at the beginning of this past week, it was unable to build any upward momentum and broke to the downside midweek. Brazil to China C3 opened the week at $25.89 to close out Friday at $23.705, while West Australia to China C5 opened at $10.923 to close at $9.145. Trade activity was moderate throughout the week in the Atlantic, while quieter in the Pacific. Bunker pricing for ...

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China traders cut back Iran iron ore purchases ahead of tariff hike

China has taken fewer shipments of iron ore from Iran over August and September, according to Refinitiv Eikon data, as additional export tariffs due to be imposed by Tehran have dampened risk appetites in the world’s biggest steelmaker. Iran’s deputy minister of industries said earlier this month that exports of all steelmaking raw materials will be slapped with a 25% tariff to meet demand in domestic steel industry, according to Iranian state-backed media Press TV on Sept. 9. The tariffs, which will cover various products from Iran’s iron mills, including ...

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India: Major ports post muted growth as coal volumes slide 4% in Apr-Aug period

The shadow of economic slowdown loomed over coal cargo movement through major ports. Between April and August, the cargo throughput growth at major ports was muted at 1.9 per cent as coal volumes slid four per cent year-on-year. In the corresponding period of FY19, coal cargo had risen by 11 per cent. Apart from decline in coal shipments compared with last year, some fall was also observed in fertiliser and liquid cargo. K Ravichandran, senior vice president and Group Head – Corporate Ratings, ICRA said, “The decline in imports is ...

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S Africa coal price must surge 20% to spur exports

South African thermal coal exports via the Richards Bay export hub will continue to languish at around 73m tonnes/year unless benchmark export prices rise at least 20% from current levels, the CEO of miner Canyon Coal said. Shipments from Richards Bay Coal Terminal (RBCT) – which account for more than 90% of the country’s exports – will likely total 73m tonnes this year, compared with 73.5m tonnes in 2018 and 76.5m tonnes in 2017, said Vuslat Bayoglu, at a Coaltrans conference in Johannesburg. Since 2013, RBCT loadings have averaged just ...

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Dry Bulk Market: A Fall Was In Order, but Where is The Balance

The dry bulk market has entered into correction mode over the past 12 days, as demand has retreated. So, which is the future direction? In its latest weekly report, shipbroker Allied Shipbroking said that “under typical circumstances and on the basis of what we have seen during the summer months, one would be (theoretically) extra bullish in terms of what to expect for the final part of 2019. However, can the current positive dynamics be sustained over the next three months? Many views have been expressed in respect to the ...

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Weak demand drags Baltic index down for 12th day

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the 12th consecutive session on Friday, weighed down by lower capesize and panamax rates. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, slipped 61 points, or 2.8%, to 2,131 points. The capesize index plunged 184 points, or 4.4%, to 3,952 points. The index slipped more than 9% this week, marking its worst week in nearly two-months. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as ...

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China iron ore extends sell-off, logs biggest weekly loss since early August

China’s iron ore futures ended a turbulent week with additional losses on Friday, dragged down by growing worries about demand prospects for the steelmaking raw material. The most-traded iron ore contract on the Dalian Commodity Exchange, for January 2020 delivery, closed down 1.9% at 635 yuan ($89.57) a tonne, after declining as much as 3.5% to a two-week low of 624.50 yuan earlier in the session. The benchmark fell 5.2% on a weekly basis, its steepest drop in six weeks. Increasing weakness in the global steel market worried investors already ...

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Baltic Dry Index falls to 2131, down 61 points

Today, Friday, September 20 2019, the Baltic Dry Index decreased by 61 points, reaching 2131 points.

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Coal imports by Indian power plants are growing at the fastest rate in five years

Indian power plants’ appetite for imported coal is on the rise again. The country’s electricity generating firms are expected to import up to 74 million tonnes of the fossil fuel in the current financial year ending March 2020, according to India Ratings and Research. The Mumbai-based ratings firm released its mid-year power outlook yesterday (Sept. 17). Coal imports to produce electricity have already risen by five million tonnes year-on-year in the April-July period, at the end of which they stood at a total 23 million tonnes. In the rest of ...

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Baltic index posts biggest fall in nearly 2 months

The Baltic Exchange’s main sea freight index, tracking rates for ships ferrying dry bulk commodities, fell for the 11th consecutive session on Thursday, marking its biggest percentage fall in nearly two months, on waning capesize demand. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, slipped 74 points, or 3.4%, to 2,192 points, its biggest one-day percentage fall since July 24. The capesize index plunged 258 points, or 5.9%, to 4,136 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore ...

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India: Economic slowdown impacts coal import cargo in H1 FY20

Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal growth of 1.9 per cent to 294 million tonnes, rating agency Icra said. Healthy volume growth in container, crude and iron ore segments was offset by the decline in coal and some other bulk cargo volumes, it said. “The volume growth at major ports has been impacted by 4 per cent fall in coal volumes – 63.6 MT vs 66.3 MT – and some decline in ...

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Will China’s latest U.S. soybean grab be another letdown for the market?

China is back in the U.S. soybean market for the first time in three months, but it appears to be motivated more by goodwill than necessity for now, and its impact on U.S. supply remains muted at this point. U.S. soybean exports to China in the recently concluded marketing year were likely the smallest in about 12 years, so market participants pay extra attention anytime China is said to be buying the U.S. oilseed. On Thursday, traders reported that China had bought a large volume of U.S. soybeans for shipment ...

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Baltic Dry Index falls to 2192, down 74 points

Today, Thursday, September 19 2019, the Baltic Dry Index decreased by 74 points, reaching 2192 points.

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Dry Bulk Carriers On Demand

Demand for second hand dry bulk carriers has gone up, as was expected after the boost in sentiment over the past few months. In its latest weekly report, shipbroker Banchero Costa noted that “the week 37 in the second hand market has been dominated by the bulk segment with numerous sales. The “Azul Challenge” (203k/04 blt Universal) has been sold to Asian buyers (either Winning Shipping or Sinokor) for $16.8 mln. Two sisters capesize “Corsier” and “Celigny” (180k/2016 blt Imabari) have been sold en bloc for $42.5 mln each. Another ...

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