The first shipment of the bumper New South Wales winter wheat harvest will leave Port of Newcastle this afternoon on the back of record production across the state. The departure of bulk carrier Ince Point – carrying 35,000 tonnes of wheat – marks the first major export volume of the product since 2018, following a prolonged period of drought across the Port of Newcastle catchment area. After two days loading at the National Agri Terminal in Carrington, the ship departs for Vietnam as the first of what could be up ...

Australian thermal coal miners were facing issues with loading after a storm hit thermal coal shiploaders at Newcastle port on Nov. 17, sources said Nov. 23. A few miners declared force majeure on their previous contracts due to the issue, but further details were not immediately available. While the damage of the shiploader was still being assessed, all shipments loading out of port of Newcastle operated by Newcastle Coal Infrastructure Group, or NCIG, were affected by the storm, sources said. Following unexpected wind speeds of 130 km/hour recorded at the ...

Today, Monday, November 23 2020, the Baltic Dry Index climbed by 21 points, reaching 1169 points.

Capesize ‘Resistant’ would be one adjective to describe the Capesize market this week, as there was an increasing perception that it had discovered a floor, in several areas – specifically in Asia – where the pivotal C5 West Australia round gained 0.396 $/mt on the week to reach 6.973 $/mt, as all the majors became active. Operators played their part, with the well-described scrubber fitted Maran Glory (2012 180,575) said to have fixed on Thursday at $19,000 basis delivery Fangcheng for a West Australia round. Brazil, meanwhile, proved more prosaic, ...

China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause of the Covid-19 pandemic has been a win for at least two other Asian countries, Japan and India. Refusal by Chinese authorities to permit the unloading of high-quality coking or steel-making coal from Australia has seen the material gleefully received by steel makers in other countries. According to one analysis Japan and India have been the primary recipients of diverted cargoes, helping cut the price of steel in those countries. Credit ...

The Baltic Exchange’s main sea freight index rose on Friday and registered its first weekly gain in seven, buoyed by improving rates for all vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, edged up 14 points, or 1.2%, at 1,148, a peak since Nov. 10. The index rose about 3% for the week. The capesize index gained for a second consecutive session, up 5 points, or 0.4%, at 1,435, but was still down about 5% for the week. Average daily earnings for capesizes, ...

In the following weeks Klaveness Research will in a series of articles have a look at how we believe the fundamentals impacting dry bulk freight rates are shaping up for 2021. In the first article we started off by having a look at the big picture. In the second and third article, we drilled further down into the details of the seaborne iron ore and coal market. This week’s article will be on the seaborne grains trade. In subsequent reports we will drill further down into the other commodity groups ...

North American containerized grain shippers are feeling the effects of the tight container market and there’s no relief in sight. “It’s very difficult to get containers to move grain,” said Greg Northey, vice president of corporate affairs for Pulse Canada. About 30% of what Canadian pulse producers export travels via containers. Rates have gotten so high that it makes the whole supply chain uncompetitive, Northey said. Pulse producers can book a container, but they risk not having any containers available at the ports, he said. High container rates are the ...

Iron ore futures rose on Friday, with the Dalian benchmark marking its biggest weekly gain since early-August, as shrinking steel inventories at mills in China encouraged traders of the steelmaking raw material to push prices higher. Iron ore on China’s Dalian Commodity Exchange, closed 1.7% higher at 887.50 yuan ($135.12) a tonne, advancing for a fifth straight day. It gained 6.9% for the week. Stocks of five major finished steel products, including rebar, held by 184 Chinese mills monitored by Mysteel consultancy shrank over Nov. 12-18 by 3.6% on week ...

Today, Friday, November 20 2020, the Baltic Dry Index climbed by 14 points, reaching 1148 points.

The new RCEP trade agreement could become a boon for shipping in the coming years, at least according to market delegates. In its latest weekly report, shipbroker Allied Shipbroking said that “during a week where the developments regarding the pandemic and the aftermath of the US elections have monopolized market interest, news of a fresh trade agreement signed by 15 Asian Pacific nations may not have attracted the importance it deserved. However, this massive trade deal is expected to reshape a significant part of the global trade over the coming ...

The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, rose to its highest in over a week on Thursday, steered by higher rates across all vessel segments. The Baltic dry index rose 19 points, or 1.7%, to 1,134, a peak since Nov. 11. The capesize index went up by 16 points, or 1.1%, to 1,430. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore — a steelmaking raw material — and coal, rose $128 to $11,858. “With high ...

Golden Ocean Group Limited (NASDAQ: GOGL / OSE: GOGL) (the “Company” or “Golden Ocean”), a leading dry bulk shipping company, yesterday announced its results for the quarter ended September 30, 2020. Highlights ▪ Net income of $39.1 million and earnings per share of $0.27 for the third quarter of 2020 compared with net loss of $41.3 million and loss per share of $0.29 for the second quarter of 2020. ▪ Adjusted EBITDA of $76.7 million for the third quarter of 2020, compared with $4.2 million for the second quarter of ...

French wheat exports to China in 2020/21 could surpass last season’s large volume as France’s status as one of the few approved suppliers allowed it to capture robust Chinese demand, trading firm Lecureur said on Wednesday. French shipments to China are expected to reach 1.6 million tonnes in the first half of the July-June season, already equalling volumes over the whole of 2019/20, Thierry de Boussac, Lecureur’s commercial director, told the Global Grain conference. The trading firm also projects France could export another 1-1.1 million tonnes of wheat to China ...

Benchmark Dalian and Singapore iron ore futures jumped to fresh contract highs on Thursday, driven by concerns about supply of the steelmaking raw material from Australia and optimism around demand as steel prices picked up in China. January iron ore, the benchmark contract on the Dalian Commodity Exchange, rose as much as 3.6% to 886 yuan ($134.77) a tonne, extending gains into a fourth straight session. It was up 2.5% when trading ended. Iron ore’s most-active December contract on the Singapore Exchange climbed 0.9% to $124.06 a tonne by 0703 ...