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Baltic index posts best week since February on gains across vessels

The Baltic exchange’s main sea freight index rose on Friday and marked its first weekly gain in four, steered by strong gains across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, gained 188 points, or 7%, at 2,857. The index rose more than 17% this week, its best since February. The capesize index rose by 447 points, or 15.4%, to a two-week high at 3,346. The capesize index also notched a weekly rise of more than 32%, its biggest ...

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Around the world in seven shipping records

The container and dry bulk shipping industries are breaking new records left, right and centre it appears, resulting in dry bulk owners enjoying unseasonably high profits, and container shipping carriers and tonnage providers delivering record high profits. In this piece, BIMCO will take a look at some of the current records broken in the shipping industry world-wide. Pandemic fallout has strengthened Asian dominance The swift recovery from the pandemic in China has seen its dry bulk imports rise to their highest levels ever, boosted by infrastructure heavy stimulus and high ...

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Baltic Dry Index climbs to 2857 up 188 points

Today, Friday, June 11 2021 , the Baltic Dry Index climbed by 188 points, reaching 2857 points.

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Baltic index jumps over 7% on higher rates across vessel segments

The Baltic exchange’s main sea freight index jumped more than 7% on Thursday, propelled by strong gains across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, gained 188 points, or 7.6%, at 2,669. The capesize index rose by 411 points, or 16.5%, to 2,899, marking its biggest one-day percentage rise since Feb. 17. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, rose by $3,407 to $24,039. Iron ore advanced on ...

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China inspects for coal hoarding at northern ports – sources

China has sent officials to inspect coal inventories and crack down on illicit hoarding at ports, following a surge of physical coal prices and tight supplies in the market ahead of the peak consumption season. Officials conducted research at Caofeidian port and held meetings with port companies and coal trading firms on Thursday before heading to the nearby Jingtang and Qinhuangdao ports, according to three people familiar with the matter. The three ports are major coal transporting hub in northern China. Officials from five departments, including the National Development and ...

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Iron ore edges higher, China inflation worries cap gains

Iron ore advanced on Thursday as benchmark steel futures in Shanghai rose for a second straight session, but gains were capped as top steel producer China reiterated its goal to rein in commodity inflation. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange ended daytime trading 0.7% higher at 1,178 yuan ($184.53) a tonne. July iron ore on the Singapore Exchange SZZFN1 rose 2.1% to $209.10 a tonne by 0708 GMT. The overall sentiment was positive with spot prices also extending gains, supported by strong fundamentals, analysts ...

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Brazil’s imports of Argentine corn start to arrive

The first shipments of Argentine corn have begun to arrive in Brazil to where a national crop failure, record high prices and high demand from the meat industry has made companies such as BRF Brasil Foods SA and JBS SA turn to imports. A shipment of about 35,000 tonnes landed at the end of May at the port of Paranaguá and a second shipment of about 30,000 tonnes arrived in Rio Grande in the middle of last week, according to the maritime agency Cargonave. Another four ships should dock this ...

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Baltic Dry Index climbs to 2669 up 188 points

Today, Thursday, June 10 2021 , the Baltic Dry Index climbed by 188 points, reaching 2669 points.

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High-grade iron ore supply to struggle to meet demand as China decarbonizes: MI

Strong iron ore prices have shown great resilience, with the sustainability of their rally attracting market attention. The S&P Global Platts 62% Fe index, IODEX, reached a record $233.1/dmt on May 12 driven by a resurgence in global demand, tightening supply and runaway steel prices. Although the IODEX eased back slightly in early June, iron ore and steel will be key beneficiaries of the infrastructure investment drive in China and the US, as well as from the global renewable energy transition over the medium to long term, through the rollout ...

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Australia needs to find new iron ore export markets

Australia has good many reasons to diversify its iron ore exports, which totaled 600 million tons in 2020, as China’s iron ore imports are likely to be halved by 2030 as the scrap steel recycling industry in China expands rapidly, said a top executive of a German scrap steel recycling company. A significant decrease in China’s imports of iron ore will be made possible by the development of the recycling of scrap steel, Rafael Suchan, CEO of Germany-based metal recycling company Scholz Recycling Group, told the Global Times on the ...

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Baltic index snaps 10-session losing streak as capesize rates jump

The Baltic exchange’s main sea freight index snapped a 10-session losing streak on Wednesday, supported by a jump in capesize rates. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, gained 61 points, or 2.5%, to 2,481. The capesize index rose by 95 points, or 4%, to 2,488. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, rose by $787 to $20,632. Iron ore futures rose on Wednesday, with the Dalian benchmark contract climbing ...

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Port Hedland Iron Ore Exports Steady During May 2021

Pilbara Ports Authority has delivered a total monthly throughput of 62.6 million tonnes (Mt) for May 2021. This throughput was the same amount as May 2020. The Port of Port Hedland achieved a monthly throughput of 48.4Mt, of which 48.0Mt was iron ore exports. This was the same monthly throughput reported in May 2020. Imports through the port of Port Hedland totalled 170,000 tonnes, a decrease of three per cent compared to May 2020. The Port of Dampier delivered a total throughput of 13.3Mt, a two per cent decrease from ...

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Baltic Dry Index climbs to 2481 up 61 points

Today, Wednesday, june 09 2021 , the Baltic Dry Index climbed by 61 points, reaching 2481 points.

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Argentine Grains Exports Hit By Vaccine-Related Customs Workers Strike

Argentine grains exports were bogged down on Tuesday by a seven-hour strike by customs officers pressing for access to COVID-19 vaccines, the latest in a series of work stoppages tied to the slowly unfolding inoculation program. Vaccine distribution has been delayed by supply problems in Argentina, prompting customs and other port workers to go on strike to pressure the government into designating them as essential workers entitled to inoculations on a priority basis. “It is affecting all import and export operations,” Guillermo Wade, manager of the Chamber of Port and ...

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Iron ore export bonanza defies China tensions

Soaring demand for commodities and record iron ore prices have driven a surge in the value of Australian exports to China in the first five months of the year, despite tariffs and bans on billions of dollars worth of goods. More broadly, data released on Monday also showed that China’s appetite for raw materials had imports in May growing at their fastest pace in 10 years. However, supply chain bottlenecks and small COVID-19 breakouts around China’s southern ports slowed the pace of exports more than expected. Record iron ore prices ...

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