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Dry Bulk Market

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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Baltic Dry Index climbs to 1426, up 75 points

Today, Tuesday, November 26 2019, the Baltic Dry Index climbed by 75 points, reaching 1426 points.

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China’s soybean imports from Argentina spike amid trade tensions with US

Amid trade tensions with the US, China’s October soybean imports from Argentina increased nearly 29-fold to 959,936 mt from 33,200 mt last year, according to customs data. The focus in China might turn to Argentinian soybeans, world’s third-largest soybean exporter, as Brazilian inventories are expected to deplete in the coming weeks, sources said. China’s soybean imports from Brazil in October totaled 3.8 million mt, down 42% year on year and 20% on the month, the data showed. Other major soy supplier in October was the US with 1.15 million mt, ...

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Europe says Brazil’s move to end soy moratorium threatens $5-bln market

Brazilian farmers risk losing part of the European market for soy products estimated at $5 billion per year if they scrap a so-called soy moratorium barring grain traders from buying oilseed from areas in the Amazon that have been deforested. “This farmers’ movement can be perceived as a challenge,” Nathalie Lecocq, director general of FEDIOL, the group representing the European Union vegetable oil and meal industry told Reuters. Aprosoja, the main group representing Brazilian soy growers, wants to end the moratorium, which applies to land in the Amazon that was ...

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China’s all-embracing maritime influence

In the maritime world conversations among professionals soon turn to China, reflecting the country’s pervasive influence. After rapid enlargement during the past two decades, this presence is at the forefront of both the demand and supply sides of many global maritime market sectors. And looking ahead, signs of a changing emphasis are becoming more visible. Aspects of China’s role are discussed in the Review of Maritime Transport 2019 (RMT), published at the end of October by the United Nations Conference on Trade and Development. Activities reviewed in this annual report ...

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Frangou Hails “Healthy” Dry Bulk Market Rates as Navios Maritime Holdings Inc. Reports Financial Results for the Third Quarter

Navios Maritime Holdings Inc., a global seaborne shipping and logistics company, yesterday reported financial results for the third quarter and nine month period ended September 30, 2019. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am pleased with the results of the third quarter of 2019. We reported revenue of $141.6 million, Adjusted EBITDA of $98.8 million and Adjusted Net Income of $35.65 million.” Angeliki Frangou continued, “Charter rates in the dry bulk sector are healthy with the capesize 5TC rate around $19,000 per day. NM earned a time ...

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