The Baltic Exchange’s main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the second straight session on Friday, boosted by stronger capesize demand. * The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points, or 1.1 percent, to 1,031 points. * However, the index has declined for the fourth consecutive week, and has lost nearly 30 percent in the last two weeks. * The capesize index rose 5 percent, or 50 points, to 1,057 points. SPONSORED STORIES * ...

Brazil’s record soy exports to China could grow further, an Agriculture Ministry official told Reuters, as the Asian nation’s trade war with the United States boosts its demand for South American beans. Odilson Ribeiro e Silva, vice minister of international affairs, traveled to China this month and said he hopes the high demand will also open the country up to Brazilian soymeal. Brazilian exports of the oilseed soared after China slapped a 25 percent tariff on U.S. soy in July in response to Washington’s tariffs on billions of dollars worth ...

Today, Friday, November 16 2018, the Baltic Dry Index climbed by 11 points, reaching 1031 points.

The global dry freight index has fallen to a six-month low, prompting coal sellers and buyers to seek less common, longer-haul trade routes. The Baltic Dry Index (BDI) – which tracks global dry bulk freight rates – was last assessed down by more than 30% on the month at its lowest level since late May, of 1,064 points. This was due to a drop of nearly 50% for the Baltic Capesize Index, to a seven-month low of 1,153 points, while the equivalent panamax index was also down 16% over the ...

Earlier hopes of a rally in the dry bulk market during the fourth quarter of 2018, in similar note to the past couple of years, have been quashed by the harsh reality of the latest trends in the global trade. In its latest weekly report, shipbroker Allied Shipbroking said that “a tectonic shift has been taking shape over the past week in the Capesize market, with rates for the Baltic Capesize 4TC time charter average having dropped by US$ 10,000pd. What’s more is that we have already fallen considerably short ...

The Baltic Exchange’s main sea freight index, tracking rates for ships transporting dry bulk commodities, snapped its 12-day losing streak on Thursday, powered by a rise in demand for capesize vessels. * The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points or 1.1 percent – after falling 12 sessions in a row – to 1,020 points. * The capesize index marked its first gain in 12 days, rising 7.1 percent, or 67 points, to 1,007 points. * “The fourth quarter does deliver ...

River levels in Europe are falling close to a point where grain shippers will be unable to use waterways to send cargoes to customers, said Robert van der Zee, chief operating officer at supplier Cefetra BV. His comments come as crops office FranceAgriMer said low levels on the Rhine are disrupting some corn shipments and BayWa AG said it’ll postpone some grain sales because of the issue. Winners From a Russian Wheat Slowdown An expected slowdown in Russian wheat exports soon should allow the U.S. to move to the forefront ...

Seanergy Maritime Holdings Corp. announced that it has successfully concluded the refinancing of the 2011-built Capesize M/V Championship (the “Vessel”) through a leasing agreement with Cargill International SA (“Cargill” or the “Charterer”). The refinancing has released approximately $7.8 million of liquidity for the Company. Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered it into a five-year time charter with Cargill at a rate which is linked to the 5-routes Time Charter average of the Baltic Exchange Capesize Index (BCI). The ...

Today, Thursday, November 15 2018, the Baltic Dry Index climbed by 11 points, reaching 1020 points.

The new bulk carrier m/s Viikki, owned by ESL Shipping, a subsidiary of the Aspo Plc, has started operating on the Baltic Sea. The 25,600-dwt vessel, 160 metres long and fuelled by liquefied natural gas, produces less than half of the carbon dioxide of previous vessel generation, thanks to LNG and many advanced technologies. M/s Viikki was built in China, and after completion first sailed to Japan to load a cargo of raw materials. From there, she arrived to the Baltic Sea through the Northeast Passage, which shortened the journey ...

Brazilian exporters are forecast to sell a record volume of soybeans this year as China’s appetite for the oilseed remains strong amid a trade war with the United States, according to traders and shipping data on Monday. Shipments from Brazil, the world’s largest exporter of the oilseed, are expected to surpass 80 million tonnes in 2018, according to data from shipping agent Williams. China imposed a 25 percent tariff on U.S. soybeans in July in retaliation for Washington slapping duties on billions of dollars worth of Chinese goods. The situation ...

Today, Wednesday, November 14 2018, the Baltic Dry Index decreased by 55 points, reaching 1009 points.

Thoresen Thai Agencies Public Company Limited (TTA) announced an improved performance in 3Q/2018 (1 July – 31 October 2018) with consolidated EBITDA at Baht 545.0 million, increasing by 42% YoY and 36% QoQ. The consolidated net profit was reported at Baht 148.3 million, increasing 202% YoY and 57% QoQ. In 3Q/2018, consolidated revenues were recorded at Baht 3,544.4 million, increasing 14% YoY and 5% QoQ; Shipping, Offshore Service, Agrochemical, and Investment segments contributed 37%, 27%, 20% and 16% to the consolidated revenues, respectively. Meanwhile, Gross profits amounted to Baht 944.2 ...

Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter and nine month period ended September 30, 2018. In Q3 2018 the Company had total comprehensive income of US$254 thousand compared to a loss of US$1,473 thousand in Q3 2017. In 9M 2018, Total revenues increased by about 31% compared to 9M 2017. In Q3 2018, Total revenues increased by about 27% compared to Q3 2017. In Q3 2018, Vessel Operating expenses decreased by around 14% compared to Q3 2017. Management ...

Caught smack in the middle of the U.S.-China trade war, America’s soybean farmers are taking a huge gamble. Rather than selling the crop right away as they pull it out of the ground — as they do almost every harvest season to pay the bills — they are instead stashing it in silos, containers, bins, bags, whatever they can get their hands on to keep it safe and dry. The hope is that over the next few months, trade tensions will ease, and China, the top market for the oilseed, ...