Globus Maritime Limited, a dry bulk shipping company, yesterday reported its unaudited consolidated operating and financial results for the quarter and nine-month period ended September 30, 2019. Management Commentary “During the third quarter we experienced a short-term spike in the spot market that allowed us to enjoy higher than normal rates. However, the spike was short-lived and fluctuation returned full-speed, spilling over into the fourth quarter. This was mainly due to the an increase in vessel supply returning online from dry docks and was further deteriorated by some demand-driven pressure ...

Extremely noteworthy to us is that the United States Department of Agriculture recently announced that US net farm income this year will climb to its highest level since 2013. This is very significant as US farmers are not faring nearly as poorly as many pundits and media outlets continue to often report. As a result, US farmers collectively have not been in any real uproar and are not jeopardizing Trump’s re-election chances. US net farm income this year is on pace to total $92.5 billion. This would mark a year-on-year ...

Chinese soy importers on Monday bought at least five bulk cargo shipments of U.S. soybeans, or about 300,000 tonnes, for shipment in January and February after Beijing offered the buyers at least 1 million tonnes in new tariff waivers, U.S. exporters said. The fresh allotment of tariff waivers, which exempts importers from 30% tariffs on U.S. shipments, comes after buyers used up nearly all of the 10 million tonnes in waivers awarded by Beijing in October, the traders said. China has imposed steep tariffs on U.S. soybeans and other agricultural ...

With a couple of weeks still remaining for yet another year of a rollercoaster ride in the dry bulk market, analysts are pondering whether 2020 will be any better. In a recent report, Allied Shipbroking said that “the uncertainty witnessed this year in the iron ore trade has been extraordinary making for a very volatile freight market for the Capesize sector, which varied wildly from a low of US$3,460 to a high of US$38,014 in the year so far. However, the improvement being witnessed since Q3, has boosted overall perception ...

The Baltic Exchange’s main sea freight index fell on Monday, as a drop in rates for capesize vessels outweighed a rise in other vessel segments. The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, fell seven points, or 0.4%, to 1,551 points. The capesize index dropped 31 points, or 0.9%, to 3,242 points, marking its fourth-straight session of losses. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $259 to $23,445. The panamax ...

ABS has granted Approval in Principle (AIP) to Deltamarin and GTT for a dual-fuel Newcastlemax bulk carrier design. Deltamarin, GTT and ABS have been cooperating on the development of this LNG-Fueled energy efficient Newcastlemax Bulk Carrier that is intended to meet current and future environmental targets, by introducing GTT Membrane type LNG Tanks with LNG fuel stored at atmospheric pressure and designed to ABS Class. The AIP addresses the design’s introduction of a membrane fuel tank sited in the aft of the vessel. The tank design is intended to maximize ...

Today, Monday, December 09 2019, the Baltic Dry Index decreased by 7 points, reaching 1551 points.

China’s coal imports plunged 19% in November from the previous month as tighter import rules at ports curbed shipments towards the year’s end. China, the world’s top coal importer, brought in 20.78 million tonnes of the fuel last month, data from the General Administration of Customs showed on Sunday. That compares with 25.69 million tonnes in October and 19.15 million tonnes in November last year. Customs officials at several ports in Guangdong, Jiangsu and Shandong province in eastern China have halted clearance for vessels carrying coal since late October, three ...

Soybean imports by China rose to the highest level in three months after port congestion eased and more American beans cleared customs. China bought 8.28 million tons last month, the most since August, according to customs data released on Sunday.That’s up 34% from October and 54% from a year ago.Imports from January to November fell 4.1% from a year earlier to 78.97 million tons. Key Insights China may boost imports of Amercian soybeans to cover a deficit in the first quarter of next year if the two countries make progress ...

Capesize This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-week. This lift was predominately led in the Pacific, with strong trading activity from major iron ore charterers. With the steady flow of cargo in the Asia region, the Pacific C10 now trades at a solid 35% premium over the Atlantic C8. The C5 West Australia to China market had a significant jump mid-week, but fell away after a wild trading Friday, to leave the route ...

China’s iron ore imports fell for a second straight month in November, customs data showed on Sunday, as lower shipments from top miners in Australia and Brazil overshadowed firm demand for the steelmaking ingredient at mills. The world’s top steel producer brought in 90.65 million tonnes of iron ore last month, down 2.4% from 92.86 million tonnes in October and compared with 86.25 million tonnes a year earlier, data from the General Administration of Customs showed. For the first 11 months of 2019, iron ore arrivals reached 970.69 million tonnes, ...

Dry bulk is the world’s largest ocean shipping sector by volume, and the most important dry bulk trade lane is Brazil-to-China iron ore, driven by the production of Brazilian miner Vale (NYSE: VALE). Toward the end of what has already been a roller-coaster year, Vale has announced yet another revision to its production outlook, one that implies short-term pain but long-term gain for dry bulk. New Vale Guidance On Nov. 11, Vale estimated that its full-year 2019 iron-ore sales would be 307-312 million tons, fourth-quarter 2019 (4Q19) sales would be ...

Inventories of iron ore across Chinese ports declined for a second straight week this week, as demand from the top steelmaking hub of Tangshan remained robust. SMM data showed that iron ore stocks across 35 Chinese ports decreased by 670,000 mt from a week ago to 113.5 million mt as of December 6, 13.44 million mt lower than a year ago. For the same week, iron ore deliveries from the 35 Chinese ports averaged 2.89 million mt per day, up 128,000 mt from the prior week. With Tangshan steelmakers keen ...

In the first ten months of the year, the US imported 3.9 million tonnes of steel goods from Brazil, the same as was imported in the first ten months of 2017, despite the US putting in place quotas which was supposed to lower imports from the country. Brazil is the largest seaborne exporter of the tariffed steel goods to the USA, twice as large as South Korea, in second place. Brazil approaching its annual quota In May 2018, after facing tariffs for almost two months, Brazil was excluded from the ...

The Baltic Exchange’s main sea freight index fell on Friday weighed by weaker capesize demand, but the index ended the week up 2% on higher rates across the panamax and supramax segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, dropped by 17 points, or 1.1%, to 1,558 points, its lowest since Nov. 29. The index gained 2% this week, registering its second consecutive week of gains. The capesize index was down 52 points, or 1.6%, at 3,273 points, marking its second ...