EuroDry Ltd., an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced its results for the three-month period ended March 31, 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 results of the ...

Import restrictions are continuing to hold up shipments of Australian thermal coal at Chinese ports and a solution to the deadlock is not expected any time soon, market sources said on Friday. Chinese officials are still to advise on the likely duration of the import controls, which include customs clearance times of 40-50 days for arriving Australian coal ships, market sources said. As a result, very few bids were seen during Friday’s Asian trading session for Australian 5,500 kcal/kg NAR thermal coal, and sources described this market as well offered ...

Today, Friday, May 24 2019, the Baltic Dry Index decreased by 2 points, reaching 1068 points.

Belships announced its first quarter results HIGHLIGHTS · Operating income of USD 31.1 million (Q1 2018: USD 20.5 m) · EBITDA of USD 10.1 m (USD 3.8 m) · Net result of USD 2.5 m (USD 0.7 m) · All ships operating normally – modern fleet – average age 7 years · USD 30.0 million fixed charter backlog · Efficient utilization and continued outperformance of spot market · Net earnings per ship of USD 11 359 per day vs net BSI index of 7 634 · Lighthouse Navigation approx. net ...

Disruptions in the supply of iron ore from Vale and Rio Tinto’s unwillingness to offset part of the losses occurred, have led to a major correction in the dry bulk market since the start of 2019. Unfortunately for dry bulk ship owners, this trend may well continue, after Vale’s latest warnings. In its latest weekly report, shipbroker Allied said that “with dry bulk shipping still facing sever backlash from the still ongoing and frivolous trade negotiations between the US and China, as well as the dampened prospects on one of ...

Today, Thursday, May 23 2019, the Baltic Dry Index climbed by 9 points, reaching 1068 points.

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the first quarter ended March 31, 2019. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “Star Bulk announced today its first quarter 2019 financial results, reporting TCE Revenues of $99.0 million, $43.9 million of Adjusted EBITDA and a Net Loss of $5.3 million during a challenging and seasonally weak period of the year, which included approximately 300 off-hire days for scrubber installations. By the end ...

Golden Ocean Group Limited, a leading dry bulk shipping company, yesterday announced its results for the quarter ended March 31, 2019. Highlights Net loss of $7.5 million and loss per share of $0.05 for the first quarter of 2019, compared with net income of $23.6 million and earnings per share of $0.16 for the fourth quarter of 2018 Adjusted EBITDA of $36.0 million for the first quarter of 2019, compared with $70.4 million for the fourth quarter of 2018 Refinanced the non-recourse loans for 14 vessels, reducing interest expense and ...

While iron ore prices have surged to a five-year high above $100 a tonne, not all producers of the steel-making ingredient are sharing in the bounty. It’s no surprise that Brazil’s Vale is struggling. After all, it is largely the reason for iron ore’s stellar run, with the spot price of 62 percent ore delivered to China MT-IO-QIN62=ARG, as assessed by Argus Media, ending at $100.65 a tonne on Tuesday, up 38.1% this year. It was the fatal tailings dam burst at Vale’s Córrego do Feijão iron ore mine, near ...

Today, Wednesday, May 22 2019, the Baltic Dry Index climbed by 10 points, reaching 1059 points.

Brazil’s iron-ore exports rose sharply in the first half of May, data showed on Monday, recovering from a more than seven-year low in April, as higher prices encouraged sellers to close more deals internationally. Until May 17, Brazil exported 16.2-million tonnes, according to data from the Foreign Trade Secretariat (Secex), which is part of the Ministry of the Economy. In the whole of April, Brazil exported 18.3-million tonnes, as the impact of miner Vale’s Brumadinho dam collapse weighed. The export recovery comes amid higher iron ore prices. On average in ...

Today, Tuesday, May 21 2019, the Baltic Dry Index climbed by 8 points, reaching 1049 points.

Today, Monday, May 20 2019, the Baltic Dry Index climbed by 1 point, reaching 1041 points.

Capesize The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week’s $11,621 and nudged to over $12,000. It then dropped to $11,705, however, by close it rallied to $11,909. West Australia to China ore run followed a similar pattern from high $6.00s, before losing 50 cents, ending the week marked around $6.50. News was heard overnight Thursday that Brazilian miner, Vale, advised prosecutors that another dam in the State of Minas Gerais is at risk of rupturing ...

Brazilian soybean exports for 2018-19 have been revised up 3.5% on the March estimate to 72.5 million mt, according to commodities consultancy SAFRAS & Mercado. Brazil is the world’s top soybean exporter. Soybean crushing was seen up 0.7% year on year at 42.5 million mt, SAFRAS said. In 2018-19, total soybean supply is expected to fall 9% on the year, to 118.31 million mt and total beans demand is estimated at 118.15 million mt, down 9% on the year, the report said. Soy meal production in 2018-19 is set at ...