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Dry Bulk FFA: Panamax Index Bearish

Highlights: The Panamax index is now below Fibonacci support and testing the USD 9,856 level. Technically bearish below USD 10,006. The June futures remain technically bearish and continues to make fresh marker lows. The most recent pullback was less aggressive indicating that price action is pointing to an increase in downside momentum even though the stochastics remain oversold. Technical support is at USD 10,460 and USD 10,326. Price action remains bullish in the Q3 futures, but the MA’s remains flat suggesting we are currently seeing a bullish move in a ...

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Baltic Dry Index falls to 1109, down 53 points

Today, Thursday, May 24 2018, the Baltic Dry Index decreased by 53 points, reaching 1109 points.

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China signals to state giants: ‘Buy American’ oil and grains

China will import record volumes of U.S. oil and is likely to ship more U.S. soy after Beijing signalled to state-run refiners and grains purchasers they should buy more to help ease tensions between the two top economies, trade sources said on Wednesday. China pledged at the weekend to increase imports from its top trading partner to avert a trade war that could damage the global economy. Energy and commodities were high on Washington’s list of products for sale. As the two sides stepped back from a full-blown trade war, ...

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Dry Bulk FFA: Capesize Market’s Downside Momentum Looks to Be Slowing Down

Highlights: The Capesize index has broken support and is now in a corrective phase having made a fresh market low. Downside momentum is showing signs of slowing as we approach the technical support zone. Remains corrective below USD 20,801 unless the index produces a lower high. The June futures have now made a lower low and entered bearish territory. The stochastic is now oversold, a close above USD 16,040 would create a fresh market high indicating bull momentum is gaining, however price would remain below moving averages. The Q3 futures ...

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EU’s Corn-Buying Spree Is Boosting Rare Trade With South Africa

Europe’s hunger for corn is giving South Africa a surprising destination to sell more of its record crop. Africa’s top corn grower typically doesn’t export much to the European Union due to the long shipping distance and uncompetitive cost. But last year’s big harvest has cut prices, and should help South Africa ship more to the EU than in the previous six years combined, according to Strategie Grains. The increased trade comes as EU imports surged 41 percent this season amid strong demand for animal feed and cheap grain from ...

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China Inc returns to U.S. soybean market as trade tensions ease

China’s state grain stockpiler has returned this week to the U.S. soybean market for the first time since early April, a sign Beijing is preparing to resume purchases as trade tensions between the world’s top two economies ease, two sources said. The renewed interest in the oilseed, used in animal feed, follows Beijing’s pledge at the weekend to buy more U.S. goods from its top trading partner, including agricultural products. China made the pledge to avert a trade war that could damage the global economy. As the two sides stepped ...

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Baltic Dry Index falls to 1162, down 37 points

Today, Wednesday, May 23 2018, the Baltic Dry Index decreased by 37 points, reaching 1162 points.

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Brazilian truckers threaten grains exports as fuel protests widen

Truck drivers partially blocked roads and ports across Brazil on Tuesday in a second straight day of protests against a steep rise in diesel prices, threatening to slow delivery of grains and other goods to domestic and export markets. Thousands of trucks were parked to obstruct major roads as the protests spread to affect access to the country’s two main export ports, Santos and Paranaguá. Brazil’s government called a second meeting to discuss the issue. Brazil is a key global supplier of grains, meats, coffee, sugar, oil and iron ore ...

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Baltic Dry Index falls to 1199, down 40 points

Today, Tuesday, May 22 2018, the Baltic Dry Index decreased by 40 points, reaching 1199 points.

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Sulfur limit change could alter South Korea’s demand profile for thermal coal

South Korea’s adoption of an annual sulfur limit of 0.4% as-received basis for thermal coal used to fuel its coal-fired power plants could radically change the Asian country’s demand profile for imports, according to market sources familiar with the move. Power plant operators in South Korea, including the five state-owned generators, will have to comply with the new sulfur limit from July, and earlier than the originally thought date of October, sources said. Financial penalties will be applied to power plant operators that exceed the 0.4% sulfur limit, which will ...

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Panamax Synergies Realised Through Asset Plays – Star Bulk Wows the Market

The acquisition of the Songa Bulk fleet by Star Bulk provides their new owners with a fleet renewal opportunity in the strong Panamax bulk carrier market. Spot market earnings for ships of this size have been moving steadily upwards since the start of 2016, and supply and demand fundamentals are supporting further upside. This purchase allows Star Bulk to expand their fleet on the water immediately to capture the value in the strong market, while also driving down their average Fleet age in the segment. Asset values for a 10 ...

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U.S. commodity exports to China to rise amid trade talks, but volumes are capped

China has pledged to buy more U.S. goods to reduce America’s huge trade deficit and help avoid exacerbating a trade war between the world’s two biggest economies, with energy and commodities high on Washington’s list of products for sale. The U.S. trade war with China is “on hold” after the governments agreed to drop tariff threats and work on a wider agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Washington is especially keen to sell more of the United States’ surging oil and gas production. Yet infrastructure bottlenecks mean ...

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India: Coal imports by power plants fall 22 per cent in April

Coal imports by power utilities fell by 22.23 per cent to 3.73 million tonnes in April mainly due to decline in shipments by imported coal based power projects in the country. According to latest data compiled by the Central Electricity Authority (CEA), coal imports by the power utilities came down to 3.731 million tonnes (MT) in April this year from 4.798 MT in April 2017 mainly due to lower deliveries at imported coal based plants. In April 2018, however, the total coal imports by power utilities for blending with domestic ...

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Baltic Dry Index falls to 1239, down 34 points

Today, Monday, May 21 2018, the Baltic Dry Index decreased by 34 points, reaching 1239 points.

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Dry Bulk: Capesize Market Faces Fall

Capesize Dramatic drops over the week for the big ships, with the hope of further improvements as the week began being dashed mid-week. Ongoing unrest in Guinea and disruption to bauxite exports saw some vessels re-let on the market, prompting uncertainty with those vessels chasing rates lower, especially from Brazil. As the week closed out, rumours circulated that Vale took a clutch of ships in the low $17.00s for June dates from Tubarao to Qingdao. Further north, there were rumours of weaker transatlantic rates negotiated, and timecharter levels slipped further ...

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