Home / Shipping News / Dry Bulk Market (page 3)

Dry Bulk Market

Baltic Dry Index falls to 1560 down 43 points

Today, Friday, August 05 2022 , the Baltic Dry Index decreased by 43 points, reaching 1560 points.

Read More »

Star Bulk Carriers Corp. Reports Net Profit of $200.1 Million for the Second Quarter of 2022 and Declares Quarterly Dividend of $1.65 Per Share

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the second quarter of 2022. Unless otherwise indicated or unless the context requires otherwise, all references in this press release to “we,” “us,” “our,” or similar references, mean Star Bulk Carriers Corp. and, where applicable, its consolidated subsidiaries. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “Star Bulk continued its strong performance in 2022, reporting for the second quarter a Net Income of $200.1 million, ...

Read More »

India backs down from coal import targets for utilities, notice shows

India has eased coal import targets for utilities, according to a notice from the power ministry reviewed by Reuters, setting aside a target for them to import 10% of their coal needs and marking yet another reversal in energy policy. State government-run utilities and private power producers should instead decide by themselves how much coal they need to import, according to the notice, which was sent to government officials and private utilities on Aug 1. “It has been decided that now onwards, states/independent power producers and Ministry of Coal may ...

Read More »

Baltic index extends fall as capesizes sink to over 3-month low

The Baltic Exchange’s main sea freight index dipped for a ninth straight session on Thursday, led by tumbling capesize rates as demand for all vessel segments fell. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 128 points, or 7.4%, to 1,603 points, marking its worst day since May 27. The capesize index dropped 310 points, or 17.3%, to its lowest level since April 20, at 1,480 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, ...

Read More »

Seanergy Maritime Reports Record Financial Results for the Second Quarter

Seanergy Maritime Holdings Corp., announced its financial results for the second quarter and six months ended June 30, 2022. The Company also declared a quarterly dividend of $0.025 per common share for the second quarter of 2022. For the quarter ended June 30, 2022, the Company generated Net Revenues of $32.8 million, a 18% increase compared to the second quarter of 2021. Adjusted EBITDA for the quarter was $17.3 million, a 53% increase compared to $11.3 million in the same period of 2021. Net Income and Adjusted Net Income for ...

Read More »

Iron ore slumps to one-week low on China demand worries

Dalian and Singapore iron ore futures slumped to one-week lows on Thursday, pressured by worries about an unsustainable demand recovery in top steel producer China and prospects of increased supply. On China’s Dalian Commodity Exchange, the steelmaking ingredient’s most-traded January contractended daytime trade 5.2% lower at 688.50 yuan ($101.96) a tonne, after touching its weakest since July 28 at 688 yuan. Iron ore’s front-month September contract on the Singapore Exchange fell 2.5% to $107.20 a tonne, down for a fifth session. China’s troubled property sector, COVID-19 curbs, decarbonisation goals that ...

Read More »

Baltic Dry Index falls to 1603 down 114 points

Today, Thursday, August 04 2022 , the Baltic Dry Index decreased by 114 points, reaching 1603 points.

Read More »

Genco Shipping & Trading Limited Says Majority of Fleet Booked at Over $25,000 for Third Quarter

Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, reported its financial results for the three months and six months ended June 30, 2022. The following financial review discusses the results for the three months and six months ended June 30, 2022 and June 30, 2021. Second Quarter 2022 and Year-to-Date Highlights Declared a $0.50 per share dividend for the second quarter of 2022 Represents the third dividend payment under our value strategy and second full payout utilizing our run rate ...

Read More »

Baltic index slides to 6-month low as vessel rates falter

The Baltic Exchange’s main sea freight index dropped to its lowest since February on Wednesday, extending its decline to the eighth day, on lower demand across vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 86 points, or 4.7%, to 1,731 points. The capesize index dropped 181 points, or 9.2%, to its lowest since April 21, at 1,790 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $1,505 to $14,842. “A 22.8% ...

Read More »

Iron ore sags as China property woes eclipse rebound in steel profits

Dalian and Singapore iron ore futures fell on Wednesday as a crisis engulfing property developers in China, the world’s top steel producer, outweighed improving margins at mills. Iron ore’s most-traded September contract on China’s Dalian Commodity Exchange DCIOcv1 ended volatile daytime trade 0.8% lower at 786.50 yuan ($116.44) a tonne. On the Singapore Exchange, the steelmaking ingredient’s front-month September contract was down 1.5% at $113 a tonne, as of 0700 GMT, extending losses to a fourth session. Sentiment has turned shaky after iron ore’s solid gains last week. A private ...

Read More »

Baltic Dry Index falls to 1717 down 100 points

Today, Wednesday, August 03 2022 , the Baltic Dry Index decreased by 100 points, reaching 1717 points.

Read More »

Dry Bulk Carriers the Pick of the Bunch for Shipowners

Dry bulk carriers in the secondhand market have been among the most popular choices from shipowners over the past week. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, things appeared more vivid as of the past week, given the fair numbers of transactions taking place, especially when taking account the fact that we are approach the peak of the summer holiday period. On the other hand, as the recent downward momentum in terms of freight earnings keeps hold, it will continue being a ...

Read More »

Baltic index extends losses to seventh session

The Baltic Exchange’s main sea freight index posted a loss on Tuesday for the seventh straight session, its longest losing streak in about four months, pressured by lower rates across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, lost 55 points, or 2.9%, to 1,817 points. The capesize index dropped 91 points, or 4.4%, to 1,971 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $753 to $16,374. “With many routes ...

Read More »

Lower price, currency flexibility drive more Russian thermal coal to India

With India leveraging discounted Russian coal and banks adapting to facilitate trade in currencies other than the US dollar, data shows that the influx of Russian material — which has been increasing significantly — has eaten into the Indian import market of high-CV US, South African and Australian coal and experts believe that the trend is likely to continue. According to data from S&P Global Commodities at Sea, Russia has far surpassed Australia and the US to become the third-largest supplier of thermal coal to India in July, following Indonesia ...

Read More »

Chinese steel mills to suspend few production lines in Aug: S&P Global survey

A few Chinese blast furnace mills are preparing to stop finished steel production lines next month on lackluster demand in domestic and seaborne markets, an S&P Global Commodity Insights survey of 18 major mills across different regions in the country showed July 28. A tight rebar supply-demand balance has been reached on account of lower production and weak demand. “Most of the production cuts were temporary and by mill maintenance,” said one of the Eastern China mill sources, adding that when blast furnaces mills’ margin recovered, the speed of the ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping