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Dry Bulk Market

China’s June iron ore imports hit 33-month high on robust demand

China’s iron ore imports jumped 17% in June from a month earlier to hit the highest level in 33 months, customs data showed on Tuesday, fuelled by rising shipments from miners and robust demand in China. The world’s biggest steel producer brought in 101.68 million tonnes of iron ore last month, surging from 87.03 million tonnes in May, data from the General Administration of Customs showed. Imports were also up 35% from June 2019. June shipments were the highest monthly imports since October 2017. “June is the last month of ...

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Dry Bulkers Still in High Demand

Demand for dry bulk carriers remained high over the past week. Ship owners are eager for more tonnage, on the back of improving market fundamentals. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, interest remained relatively robust this past week, with the positive sentiment noted as of late from the boosted freight market playing a key role. Almost all of the deals being reported this past week included Panamax and Supramax units, with the majority of them being considered as vintage. Given that ...

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China’s June coal imports fall 6.7% y/y on port curbs

China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by traders and power plants, despite solid fuel demand. China, the world’s top coal importer, brought in 25.29 million tonnes of the fuel last month, data from the General Administration of Customs showed on Tuesday. That compares with 27.1 million tonnes in June last year but is still higher than 22.06 million in May, driven by stockpiling demand ahead of the peak summer season. Customs had been stepping up ...

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Grindrod Shipping Holdings Ltd. Announces Fleet Update – Re-delivery of Doric Breeze

Grindrod Shipping Holdings Ltd., a global provider of maritime transportation services in the drybulk and product tanker sectors, announced that on July 9, 2020, the Company re-delivered the 2013-built chartered-in medium range tanker Doric Breeze to her owners at the conclusion of her charter. The vessel had been on charter to Grindrod Shipping for the past seven years. Source: Grindrod Shipping Holdings Ltd.

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Baltic Dry Index falls to 1742, down 50 points

Today, Tuesday, July 14 2017, the Baltic Dry Index decreased by 50 points, reaching 1742 points.

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Mid-year dry bulk contemplations

Following what can be characterised as an overall-disappointing first half of 2020 with the corona effect evident across economic, social and commercial life, 2H20 started on a, finally, brighter note reversing whatever bad was written earlier in the year. Capesize leads the buoyant sentiment What everyone seems to be talking about is the impressive threshold the capesize market passed; that is the US$30,000 mark that capesizes went across on average daily returns. They did, however, soon adjusted to circa US$27,000/d which is a satisfactory number still. This change on capesize ...

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The future trade and foreign policy of Chinese iron ore imports

The global pandemic that has ravaged supply chains and economies around the world has given food for thought throughout many sectors, including resource management and dependency. This is especially the case in China, which, for its massive iron ore demands relies principally on Australia and Brazil. The Chinese iron ore trade is the driver of the dry bulk market for the larger vessel ranges and so any shift in demand patterns has the potential to cause considerable disruption in the shipping markets. In the wake of the first wave of ...

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Precious Shipping Reaches Settlement With Sainty Marine

We, Precious Shipping Public Company Limited (“Company”), refer to the disputes with Sainty in relation to the eleven shipbuilding contracts (“Contracts”) for eleven 64,000 DWT bulk carrier vessels bearing hull nos. SAM13009B (M.V. Issara Naree), SAM13010B (M.V. Inthira Naree), SAM14017B, SAM14018B, SAM14019B, SAM14020B, SAM14021B, SAM14022B, SAM14023B, SAM14027B, SAM14028B (“Vessels”) which are under the arbitration and court proceedings in London. We hereby notify the SET that on 10 July 2020, the Company as the Buyer and Sainty as the Seller (the Company and Sainty are jointly referred to as the “Parties”) ...

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Baltic Dry Index falls to 1792, down 18 points

Today, Monday, July 13 2017, the Baltic Dry Index decreased by 18 points, reaching 1792 points.

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Capesizes: Market Enters Correction Mode

Capesize This week witnessed the dreaded correction in the Capesize market, with the timecharter average shedding almost 18 per cent to close the week at $27,644. But in recent context, this cannot be considered as anything other than healthy. The Pacific round – and the backhaul – proved to be the biggest drivers. Both lost approximately 25 per cent on the week, although all routes posted losses – including the crucial Brazil round and north Atlantic fronthaul, which dropped 19 per cent and 13 per cent respectively on the week. ...

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Indian Thermal coal imports at major ports decline 35 per cent to 17.71 MT in April-June: IPA

Thermal coal imports at India’s 12 major ports dropped 34.70 per cent to 17.71 million tonnes (MT) in the first quarter of the current fiscal, according to the Indian Ports’ Association (IPA). Impacted by the Covid-19 pandemic, coking coal imports too witnessed a decline 28.49 per cent to 10.69 MT in the quarter. These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year. The IPA, which maintains cargo data handled by these ports, in its latest ...

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Dry Bulk Market Not “Out of the Woods” Yet

While demand for dry bulk carriers has intensified over the past few weeks, evidence from the data of the first half of 2020 suggests that the total number of transactions is lower than the previous years. Meanwhile, the second half of 2020 could prove equally challenging. In its latest weekly report, shipbroker Allied Shipbroking said that “with the first half of the year now concluded, it has undoubtedly been a period of high shocks for the dry bulk market that has left owners with a very bittersweet taste at the ...

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Baltic index snaps streak of 7 consecutive weekly gains

The Baltic Exchange’s main sea freight index was unchanged on Friday, as gains in panamax and supramax vessel rates offset losses in capesize rates, although it was set for its first weekly decline in eight. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was flat at 1,810. For the week, the index shed 4.4%. The Baltic capesize index lost 53 points, or 1.6%, to 3,333 and dropped 23.7% this week. Average daily earnings for capesizes, which ...

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Australia ships record volume of iron ore to China in June

Australia’s shipments of iron ore to China from the world’s top export hub of Port Hedland climbed to a record of 46.2 million tonnes in June, data from the port authority showed on Friday. Shipments rose by 7% from May’s figure of 43.18 million tonnes, and were up by 10% from the same month last year, the data showed. Port Hedland is used by three of Australia’s top four iron ore miners: BHP Group,, Fortescue Metals Group and Gina Rinehart’s Roy Hill. Source: Reuters (Reporting by Melanie Burton; Editing by ...

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China iron ore slips; posts best weekly jump in seven on strong demand outlook

Iron ore futures slipped on Friday, but China’s benchmark contract marked its biggest weekly gain since mid-May as optimism grew over prospects of demand in the world’s top producer and consumer of steel products. Prices came under pressure after Australian port data showed shipments of iron ore to China from the world’s top export hub of Port Hedland climbed in June to a record of 46.2 million tonnes. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange ended the session 0.1% lower at 790.50 yuan ($112.79) a ...

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