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Dry Bulk Market

Dry Bulk Market Still Fragile Despite Recent Rally

Despite the dry bulk market’s recent upward momentum, things are still quite fragile and nothing should be taken for granted. In its latest weekly report, shipbroker Allied Shipbroking said that “with Q1 of the year already passed, it is interesting to note that a typically sluggish period in the year for the dry bulk sector has come to be one of the most promising rallies not seen for many years. The current market has created a lot of enthusiasm in terms of what to expect next, so it may sound ...

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Baltic index scales over 1-year peak as vessel rates jump

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to its highest level since September 2019 on Thursday as demand strengthened across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose 145 points, or 6.7%, to 2,323, its highest since Sept. 12, 2019. The capesize index advanced 232 points, or 7.4%, to 3,383, its highest level since Oct. 9, 2020 Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient ...

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China iron ore futures recoup on wide spread with spot prices, strong demand

China’s iron ore futures rose as much as 4.4% on Thursday staging a smart recovery from the previous session on a big spread between spot cargoes and futures and demand for the steelmaking ingredient strengthened. “There have been speculations that other places like Handan city in Hebei will also implement production curbs, but they haven’t,” a Tangshan-based analyst said, adding that iron ore demand is still supported by resilient steel output. Daily crude steel output at major steel mills in China stood at 2.3 million tonnes in the first ten ...

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Chinese customs data shows strong iron ore demand

Imports of iron ore in China have jumped a whopping 19% to 102.11 million tonnes in March vs the prior year according to Tuesday’s official customs data. A Reuters report highlighted that world’s top base metal and iron ore consumer brought in 283.44 million tonnes of the steelmaking ingredient in the first quarter, up 8% on an annual basis, data from the General Administration of Customs showed. The Chinese customs said the nation exported 7.5 million tonnes of steel products in March, an increase of 16.4% over the corresponding period ...

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Rising vessel rates propel Baltic index to near 3-week crest

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, ticked higher on Wednesday on higher activity across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, gained 38 points, or 1.8%, to 2,178, its highest level since March 26. The capesize index inched up nine points, or 0.3%, to 3,151 – its strongest since mid-January. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, were up $76 at $26,131. ...

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Chinese mills shift iron ore procurement preference; JMBF slips into discounts

The Australian Jimblebar Blend Fines, or JMBF, slipped from premiums into discounts against the 62% Fe index as demand for iron ore fines with lower ferrous content and higher impurity levels dropped due to stricter quality requirements among Chinese steelmakers amid high margins. BHP on April 14 offered a 90,000 mt cargo of 60.5% Fe Jimblebar Blend Fines at a discount of $2.30/dmt over the May average of Argus and Mysteel 62% Fe indexes CFR China, on COREX, for arrival in May. This compared to a spot deal at a ...

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Baltic Dry Index climbs to 2178 up 38 points

Today, Wednesday , April 14 2021 , the Baltic Dry Index climbed by 38 points, reaching 2178 points.

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Baltic Index Drifts Lower On Panamax Weakness

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Tuesday, as lower panamax vessel rates outweighed a slight gain in the larger capesize segment. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, dipped 5 points, or 0.2%, to 2,140. The capesize index edged up 10 points, or 0.3%, to 3,142, its strongest since Jan. 13. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, were up $79 to ...

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China March iron ore imports jump 19% on rising shipments, firm demand

China’s iron ore imports rose in March from relatively low levels a year earlier, customs data showed on Tuesday, with demand for the steelmaking ingredient underpinned by robust industrial activity. The world’s biggest iron ore consumer brought in 102.11 million tonnes of the raw material last month, according to data from the General Administration of Customs, up 18.9% from March 2020. In the first quarter, China imported 283.44 million tonnes of iron ore, up from 263 million tonnes over the same period last year. “Iron ore imports just returned to ...

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SHIPPING Q1: Dry bulk freight market’s surprise strength extends into Q2

Pent-up demand for commodities from grains to coal powered a surprisingly strong recovery in the dry bulk shipping market in the first quarter, with both freight levels and earnings reaching multi-year highs — and that momentum is continuing in Q2. Although uncertainties still loom large due to the global pandemic, many countries are recovering economically and actively rebuilding commodity stockpiles, and expectations are that shipments will increase further in Q2, while freight rates will remain steady. “I think the Q1 performance [exceeded] everyone’s expectations,” a Capesize ship-operating source said. The ...

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China’s Q1 soybean, grains imports surge on strong demand

China’s imports of soybeans, as well as grains like corn and wheat, soared in the first quarter, boosted by strong demand from the livestock sector, data from customs showed on Tuesday. Soybean imports almost doubled in March alone year-on-year, according to customs data, as cargoes of beans from top exporter Brazil cleared customs after delays. Meanwhile first-quarter corn and wheat shipments jumped on elevated domestic corn prices amid a supply shortage, the data showed. China, the world’s top soybean buyer, brought in 7.77 million tonnes of the oilseed in March, ...

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China commodity imports in Jan-March

China’s General Administration of Customs released first-quarter imports data on Tuesday for most major commodities. Here are comments from analysts on the data: KEY POINTS: *Crude oil: Q1 imports were at 139 million tonnes *Natural gas: Q1 imports were at 29.39 million tonnes *Iron ore: Q1 imports were at 283 million tonnes *Corn: Q1 imports were at 6.73 million tonnes *Wheat: Q1 imports were at 2.93 million tonnes *Soybean: Q1 imports were at 21.18 million tonnes Preliminary table of commodity trade data Comment on iron ore CAI BIYU, ANALYST WITH ...

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Baltic Dry Index falls to 2140 down 5 points

Today, Tuesday, April 13 2021 , the Baltic Dry Index decreased by 5 points, reaching 2140 points.

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US may replace Ukraine as China’s top source of corn in 2021: experts

The US will likely surpass Ukraine as China’s top source of corn this year for the first time since 2015, as China’s corn imports from the US continue to grow amid increasing demand, soaring prices and the China-US phase one trade agreement, experts said on Sunday. Since March 2020, corn prices have soared, peaking at 2,900 yuan ($442) per ton. There have been some fluctuations since March, and the price was just 2,730 yuan in early April, but it rose again by 150 yuan per ton in the past week ...

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Dry Bulk Market in Best Annual Start in a Decade

The dry bulk market is enjoying its best annual start in a decade, thanks to a big rise in demand and supply chain disruptions. In its latest report, shipbroker Allied Shipbroking said that “with the first quarter of the year having come to a close, we can already see the exuberant aftermath of the sharp rally that has taken place during the course of these three months. The dry bulk market has made its most promising start to the year for at least a decade. Freight rates have been quick ...

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