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Dry Bulk Market

U.S. Soybean Exporters Might Find Painful Lesson In Chicken Exports To Russia After 2014 Ukraine Invasion

If U.S. soybean exporters want a glimpse of their future in China, they might consider what has happened to the U.S. chicken export market after the 2014 Russian invasion of Ukraine. It disappeared. This is the risk of the U.S.-China trade war to not only the soybean industry but a number of targeted industries, including oil and lumber. While there are some differences between the Chinese and Russian cases, there are also striking similarities. In both cases, the United States was the dominant export market. As recently as last year, ...

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Dry Bulk Market: Capesizes On the Rise Again

Capesize The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was seen to improve strongly, with both paper and physical traders buying into the rally. Opening the week at $18,930 on the Capesize 5TC, it has now lifted to $23,865. Traders had been eyeing up the second half of December, loading windows out of Brazil in recent weeks citing likely tonnage tightness. They weren’t disappointed as C3 was seen to open the week at $19.030, to end the ...

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India may become net importer of iron ore again from next year

India is likely to emerge as a net importer of iron ore next year after about four years, and may remain a key buyer in the international market for the next few years, as domestic supply is likely to take a big hit due to closure of 24 working mines. According to Federation of Indian Mineral Industries, the tenure of 329 non-captive mining leases is set to expire in March, including 24 working iron ore mines, which contributed roughly 30% to last year’s iron ore output of 210 mln tn. ...

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Baltic index climbs to 3-week high on stronger vessel demand

The Baltic Exchange’s main sea freight index on Friday rose to its highest level in three weeks and registered its first weekly gain in seven, helped by firmer vessel demand across all segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, climbed 61 points, or 4.2%, to 1,528 points, its highest since Nov. 6. The index gained 19% this week, snapping six consecutive weeks of losses and registering its biggest weekly gain since mid-August. The capesize index was up 136 points, or ...

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U.S. Soy’s Flowing Into China Again as Port Congestion Eases

American soybeans that were once stranded on ships along China’s coast are coming ashore again just as U.S. President Donald Trump declares the two nations are in the final throes of a trade agreement. While Beijing has agreed to waive a 30% retaliatory tariff on imports of U.S. beans, buyers still have to pay a deposit before seeking a refund from the government. Many have been struggling to stump up the cash, meaning they couldn’t unload the shipments, according to people familiar with the matter. That caused a logjam at ...

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Exxaro weighs coal export handling options as RBCT congestion raises its head again

EXXARO Resources will consider exporting coal through port handling terminals other than Richards Bay Coal Terminal (RBCT), in which it is a shareholder, as it sought to manage the twin effects of congestion and inclement weather. Responding to questions following publication of its financial year pre-close message, the coal producer said it would consider the possibility of channeling exports through Richards Bay Navitrade, which Grindrod and RBT Resources manage under licence from Transnet Port Terminals Authority, and Mozambique’s Maputo port facilities. The group didn’t get the coal export performance it ...

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Baltic Dry Index climbs to 1528, up 61 points

Today, Friday, November 29 2019, the Baltic Dry Index climbed by 61 points, reaching 1528 points.

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Baltic index rises as panamaxes mark best day in over 3 months

The Baltic Exchange’s main sea freight index rose to its highest level in three-weeks on Thursday, lifted by an improvement in shipping activity, with panamaxes posting their biggest daily percentage jump since mid-August. The Baltic index, which tracks rates for capesize, panamax and supramax vessels which ferry dry bulk commodities, rose 27 points, or 1.9%, to 1,467 points, its highest since Nov. 6. The capesize index rose 12 points, or 0.4%, to its strongest level since end-Oct at 2,995 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne ...

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Baltic Dry Index climbs to 1467, up 27 points

Today, Thursday, November 28 2019, the Baltic Dry Index climbed by 27 points, reaching 1467 points.

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Ship Owners Snap Up More Bulkers

Ship owners have turned their attention to the second hand market for dry bulk carriers. In its latest weekly report, shipbroker Banchero Costa said that it was “a pretty busy week in the dry bulk sector. Starting with larger units, BULK HARVEST around 176,000 dwt blt 2012 Jinhai is rumoured committed at levels in the mid/high $19mln. Nissen Kaiun in Japan sold the KM TOKYO around 83,500dwt blt 2010 Sanoyas for high $15mln (ship is BWTS fitted with SS due next year) to Greek buyers. whilst a resale Ultramax ex ...

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Baltic index gains on stronger vessel demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched up on Wednesday, helped by stronger demand across all vessel segments. The Baltic index, which tracks rates for capesize, panamax and supramax vessels, rose 14 points, or nearly 1%, to 1,440 points, after registering its biggest one-day percentage gain in four-and-a-half months on Tuesday. The capesize index jumped 30 points, or 1%, to 2,983. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $193 ...

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India steel minister expects to increase coking coal imports from Russia

India’s Steel Minister Dharmendra Pradhan said he was confident India’s imports of coking coal from Russia would increase significantly in coming months, adding that steelmakers had started testing samples of Russian coal. India long depended on Australia to meet most of its coking coal requirements but has progressively cut down on imports from the country in the last three years. “Offtake of coal from Far East Russia can grow as the coking coal…becomes more attractive from the point of view of price, ease of availability, connectivity to the ports and ...

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Baltic Dry Index climbs to 1440, up 14 points

Today, Wednesday, November 27 2019, the Baltic Dry Index climbed by 14 points, reaching 1440 points.

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Dry Bulk Shipping: Freight Rates Down From Multi-Year Highs As The Market Fundamentals Make Themselves Felt

The fundamental balance in the market has worsened in 2019 with supply growth outstripping demand, and BIMCO expects that this will continue into 2020. Demand drivers and freight rates After peaking in September, the fundamentals of the market have begun to drag on freight rates – although the rates remain above the average experienced so far this year, buoyed by a handful of positive developments during Q3. Capesize ships are the only dry bulk ships to have seen average freight rates in the first 10 months of this year higher ...

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Australian iron ore imports declined in October

Imports of iron ore and concentrate from Australia to China decreased by 9.4% from a month earlier and by 1.25% from a year earlier, to 53.99 million mt in October. China imported 24.05 million mt of iron ore and concentrate from Brazil in October, up 1.82% on the month and up 9.46% on the year, according to the latest data from China Customs. South Africa was China’s third largest source of imports last month, accounting for more than 4 million mt of the imports, 60.3% higher from a year earlier. ...

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