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Dry Bulk Market

Baltic index rises to over five-year high on strong vessel demand

The Baltic Exchange’s main sea freight index climbed to its highest since December 2013 on Monday, pushed by higher demand for vessels ferrying iron ore in the Atlantic. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose about 1%, or 21 points, to 2,191, a peak since Dec. 20, 2013. The index rose for the 10th straight session, mainly spurred by strong demand for vessels that ship iron ore from Brazil into China. Port stocks of seaborne iron ore across China stood at 118.35 million tonnes, ...

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Scorpio Bulkers Inc. Reports Lower Second Quarter Results

Scorpio Bulkers Inc. reported its results for the three months ended June 30, 2019. The Company also announced that, 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 Six Months Ended June 30, 2019 and 2018 For the second quarter of 2019, the Company’s GAAP net income was $35.0 million, or $0.50 per diluted share, including: a non-cash gain of approximately $52.6 million and cash dividend income of $0.5 million, or $0.77 earnings per diluted share, ...

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Surging Dry Bulk Shipping ETF Up 40% In Past Month Doesn’t Mean All Is Well

An ETF strategy that tracks dry bulk freight futures has surged in recent weeks, along with the jump in the widely observed Baltic Dry Index, but some have warned of global growth concerns that could pressure trade. The Breakwave Dry Bulk Shipping ETF (NYSEArca: BDRY) advanced 38.8% over the past month and increased 60.3% over the past three months. The Baltic Dry Index that tracks the cost of shipping commodities around the world is hovering at its highest level since 2014, the Wall Street Journal reports. Analysts, though, pointed out ...

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Baltic Dry Index climbs to 2191, up 21 points

Today, Monday, July 22 2019, the Baltic Dry Index climbed by 21 points, reaching 2191 points.

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Dry Bulk Market: Capesize Market Sizzling Hot

Capesize Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Capesize 5TC opened the week at $26,705 to close Friday at $32,765, an increase of more than 22%. The Brazilian iron ore market was strong early in the week, with most charterers, owners, operators and traders all present at some stage. Vessels traded hands regularly and at levels that lifted at a startling rate. Brazil to China C3 rate levels varied wildly on date-specific terms with ...

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Brazil soybeans lose protein, China sales at risk

The protein content in Brazilian soybeans fell for the first time in four harvests in 2018, according to preliminary government data, a development that has already cost Brazilian companies business with top buyer China. Declining protein levels in Brazil, the world’s top soybean supplier, spell trouble for exporters who are faced with the prospect of cancellations, selling beans at a discount or stricter contracts requiring quality assurances with buyers who want to guarantee a nutrient-rich purchase. The protein content in Brazil’s 2018 soy crop harvested around January of that year ...

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Baltic index at 5-1/2 year high on strong capesize, panamax rates

The Baltic Exchange’s main sea freight index climbed to its highest since December 2013 on Friday, driven by firm demand for capesize and panamax vessels. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose nearly 2%, or 40 points, to 2,170, a peak since Dec. 24, 2013. The index rose for the ninth session in a row, mainly spurred by strong demand for vessels that ship iron ore from Brazil into China. “Vale has resumed operations at the 30 MMtpa Brucutu iron ore mine, leading to ...

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“2020 Global Sulphur Limit implementation: INTERCARGO raises Safety concerns”

With 1 January 2020 less than five and a half months away, INTERCARGO expresses its growing concern in view of the magnitude of the challenge lying ahead for the industry and the need for a smooth transition. The global availability of safe compliant fuels remains a key question largely unanswered. The requirement for the sulphur content of fuel oil used by ships operating outside designated emission control areas not to exceed 0.50% as of 1 January 2020 marks a sea change in the marine fuels’ supply chain. It is extremely ...

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How to go ‘straight to the freight’ when betting on dry bulk

Dry bulk – iron ore, coal, grains and other mineral and agricultural commodities – is by far the world’s largest cargo segment. With rates rising after an extended slump, what’s the best way for investors to capture the upside in this massive market? One of the most innovative options is the Breakwave Dry Bulk Shipping ETF (NYSE: BDRY), an exchange-traded fund (ETF) launched in March 2018 that owns and tracks bulker freight futures. Not surprisingly given what’s going on with bulker rates, BDRY is now gaining more traction after a ...

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Indian utilities’ coal imports in H119 rise over 53% from year ago

Coal imports by Indian coal utilities during the first half of 2019 rose 53.4% from a year earlier to 35.47 million tonnes, data provided by India’s Central Electricity Authority (CEA) showed. Demand for seaborne coal imports in India has risen because of a fast rising population and the unavailability of alternative fuels such as natural gas. Imports for power plants at the port of Mundra, in western India’s state of Gujarat, made up 42% of all imports by Indian utilities during the first half of 2019. Imports by Adani Power ...

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Capesize bulker rates are ‘electrifying’

This may be the time for the summer doldrums, but ocean shipping freight rates and charter markets are far from sleepy. Rates that were good last week are even better this week. Dry bulk remains the biggest story. Bulker rates, especially those for ships booked in the Atlantic Basin, are reaching levels not seen in years. Meanwhile, freight rates are on the upswing for containers bound for the U.S., and the liquefied natural gas (LNG) shipping segment continues to slowly gain traction, albeit not at the pace seen at this ...

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Baltic Dry Index climbs to 2170, up 40 points

Today, Friday, July 19 2019, the Baltic Dry Index climbed by 40 points, reaching 2170 points.

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Bulk Freight Shipping Rates Soar as Vale Resumes Iron Ore Exports

Freight rates for seaborne bulk industrial shipping soared to the highest levels in more than five years this week, boosted by Brazil’s resumption of iron ore exports. The Baltic Dry Index, which measures the cost of moving commodities like coal, grain and iron ore, is hovering at a level last reached in January 2014, with shipowners in the long-slumping sector saying prices for moving raw materials from South America to China have tripled in recent months. Shipping brokers in Europe and Asia said the Brazilian mines operated by Brazil-based producer ...

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Iran grain ships stuck in Brazil without fuel due to U.S. sanctions

Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States. The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertilizer. They were expected to load corn and return to Iran, but lacked enough fuel for the trip, the port operator in Paranaguá told Reuters. Food is not covered by U.S. sanctions, ...

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Baltic index hits 5-1/2-year high as iron ore vessel demand surges

The Baltic Exchange’s main sea freight index rose on Thursday to its highest since December 2013, driven by demand for vessels shipping iron ore in the Atlantic, pushing capesize and panamax indices to multi-year highs. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.2%, or 66 points, to 2,130, its highest since mid-December, 2013. The index has surged about 68% so far this year. The index extended gains for an eighth straight session, mainly driven by strong demand for vessels that ship iron ore from ...

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