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Dry Bulk Market

Baltic Dry Index climbs to 1,134, up 19 points

Today, Thursday, November 19 2020, the Baltic Dry Index climbed by 19 points, reaching 1134 points.

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Baltic Index Rises On Higher Panamax, Supramax Rates

The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, gained on Wednesday, helped by strong demand for panamax and supramax vessels. The Baltic dry index was up 3 points, or 0.3%, at 1,115. The panamax index rose 39 points, or 3.1%, to 1,291, gaining for a fifth straight session. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $358 to $11,622. The supramax index rose 12 points to 900. The capesize index ...

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Seanergy Maritime Holdings Corp. Expects Strong Dry Bulk Market Rebound in Post-COVID Era

Seanergy Maritime Holdings Corp. announced yesterday its financial results for the third quarter and nine months ended September 30, 2020. For the quarter ended September 30, 2020, the Company generated net revenues after voyage expenses of $15.8 million, compared to $15.9 million in the corresponding quarter of 2019. This compares favorably with the 29% decrease in the average Capesize spot earning s in the third quarter of 2020 versus the same quarter of 2019. Accordingly, the average Time Charter Equivalent (“TCE”)1 earned by the fleet during the third quarter of ...

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GoodBulk ltd. Announces 3rd quarter 2020 Financial Results

GoodBulk Ltd., a leading owner and operator of dry bulk vessels, announced its financial results for the third quarter 2020. 3rd Quarter Highlights • Generated $16.0 million EBITDA and $5.7 million profit from operations; net result was a loss of $1.2 million ($0.04 per share) after $6.9 million of net financial expenses, of which $5.2 million were a one–off amount deriving from the refinancing of the fleet. Before such one– off item, the result of the Group was a profit of $4.0 million. • Ended the period with a cash ...

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Baltic Dry Index climbs to 1,115, up 3 points

Today, Wednesday, November 18 2020, the Baltic Dry Index climbed by 3 points, reaching 1115 points.

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Baltic index steady as higher panamax rates offset capesize dip

The Baltic Exchange’s main sea freight index was little changed on Tuesday as higher rates for panamax vessels countered a dip in the capesize segment. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, inched up 1 point to 1,112. The capesize index fell 31 points, or 2.1%, to 1,450. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore — a steelmaking raw material — and coal, fell $253 to $12,029. The panamax index rose 38 points, or 3.1%, to 1,252, ...

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Star Bulk Carriers Corp. Returned to Profitability During the Third Quarter of 2020

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 third quarter and the nine months ended September 30, 2020. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “Star Bulk returned to profitability during the third quarter of 2020, reporting Net income of $23.3 million, Adjusted Net Income of $27.3 million, TCE Revenues of $137.8 million and Adjusted EBITDA of $79.7 million. We were able to take advantage of the recovering dry bulk market, ...

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US corn vulnerable to China demand, COVID-19 after recent gains

Corn futures on the Chicago Board of Trade have climbed more than 20% in the last three months amid stronger exports and shrinking domestic supply estimates, but analysts said US corn’s dependency on China’s imports and demand from ethanol industries is keeping prices vulnerable. The most active December corn futures contract touched a 17-month high of $4.28/bushel following the November World Agricultural Supply and Demand Estimates report on Nov. 10, which showed shrinking stocks and rising exports. Prices later slipped marginally from that high and were trading around $4.20/bu on ...

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Baltic Dry Index climbs to 1,112, up 1 point

Today, Tuesday, November 17 2020, the Baltic Dry Index climbed by 1 point, reaching 1112 points.

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Baltic index drifts lower as capesize rates weigh

The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, slipped on Monday due to lower rates for the capesize vessel segment. The Baltic dry index shed 4 points, or 0.4%, to 1,111. The capesize index fell 26 points, or 1.7%, to 1,481. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore — a steelmaking raw material — and coal, fell $216 to $12,282. Crude steel output from China fell for a second straight month in October on environmental ...

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China’s grain and soya imports upsurge

Demand for bulk carriers in the global grain and soya trades is receiving a boost from strongly rising imports into China. These are mostly long-distance movements, further enhancing bulk carrier employment. After expanding over the past twelve months, signs emerging in recent weeks point to the upswing continuing into 2021 amid much higher purchases of corn especially, but also of wheat, barley and sorghum. The pattern unfolding marks a major shift in the trend. China’s grain and soya imports total rose by over a quarter in the 2019/20 year just ...

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Australian coal exports to China slump, but prices are mixed

China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in November. But something odd is happening with prices. China imports two main types of coal from Australia, coking coal used to make steel and thermal coal, used predominantly to generate power, but which can also be used in industrial processes such as cement and ceramics. As you may expect, the lower Chinese demand for coking coal has hit prices, with Singapore Exchange futures, which mirror free-on-board ...

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Baltic Dry Index falls to 1,111, down 4 points

Today, Monday, November 16 2020, the Baltic Dry Index decreased by 4 points, reaching 1111 points.

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Soybean Exports To China Surge 472%, 2 Years After Falling To Zero

U.S. exports of soybeans to China, which took a beating during height of the trade war, are at their highest monthly total in almost three years, according to the latest monthly data from the U.S. Census Bureau. Soybeans became something of a poster child for the impact of the trade war on U.S. exporters, as China retaliated for sweeping and broad tariffs from the Trump Administration on U.S. imports with surgical tariffs on U.S. exports. Both 2018, when President Trump launched the trade war, and 2019 were lost years for ...

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Dry Bulk Market: Capesize Segment Loses More Ground During the Past Week as Pandemic Rages On

Capesize Any lingering doubts concerning the short-term prognosis for the capesize market were swept away this week as the timecharter average shed $2,350 to close at $12,498. A number of factors prevailed, but the erosion in sentiment largely emanated from the FFA market – despite the broader potential of a Covid-19 vaccine led relief-rally in the financial markets. The absence of a fresh influx of cargo pre year-end, whilst in itself is not implausible, left a number of brokers struggling to ascertain the origin of any significant improvement. However, thermal ...

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