The Baltic Exchange’s main sea freight index dipped on Wednesday, pressured by lower rates for the capesize and panamax vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, wasdown 18 points, or 1%, at 1,709. The capesize index fell 109 points, or 6.8%, to an overone-week low of 1,485. Average daily earnings for capesizes, which typicallytransport150,000-tonne cargoes such as iron ore and coal, lost $901 to$12,315. The panamax index dropped 30 points, or 1.3%, to2,276. Average daily earnings for panamaxes, ...

After an unusually strong start to the year, seasonality has caught up with the dry bulk market. Coupled with a slow recovery in global economic activity, it looks set to be another challenging year. Demand drivers and freight rates The dry bulk industry has enjoyed an unseasonably robust start to 2021. Average earnings in January were much higher than in recent years, because the usual seasonal slump in cargoes was delayed. However, at the start of February, the Capesize market saw average earnings fall steeply, from around USD 25,500 per ...

HIGHLIGHTS • Operating income of USD 59.9 million (Q4 2019: USD 38.9m) • EBITDA of USD 11.3m (USD 8.5m) • Net result of USD 0.9m (USD 2.1m) • Net TCE per ship of USD 10 502 per day versus BSI index of USD 10 211 net per day • 33 per cent of available ship days in 2021 are booked at USD 11 716 net per day • Positioned to take advantage of improved market with 80 per cent open days in Q2-Q4 2021 • BELFORT and BELORIENT sold with ...

Chinese steel rebar futures moved in a tight range on Wednesday, but hovered around a more than 10-year high, as the market awaited a rebound in downstream demand. “Unlike the manufacturing sector that had returned to work, construction normally restarts after the Lantern Festival,” said Wang Yingwu, chief analyst with Huatai Futures in Beijing, adding that construction demand will peak in April. The most active construction rebar on the Shanghai Futures Exchange, for May delivery, closed up 0.8% at 4,618 yuan ($714.99) per tonne. Hot rolled coil futures, used in ...

New data by the Australian Bureau of Statistics (ABS) has reported a A$3-billion, or 9%, decline in exports for the month of January, driven by a A$1.5-billion, or 10%, decline in the export of metalliferous ores. “The decline in metalliferous ores was driven by a decline in the quantity of iron-ore exported in January. Despite the decline, exports of metalliferous ores are the second highest on record behind December 2020,” said ABS head of international statistics Andrew Tomadini. Advertisement Iron-ore exports in January were down by 7%, or A$963-million, with ...

A bullish sentiment is prevalent in the dry bulk market, leading to an increased demand for second hand tonnage. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, the market seems to be overflowing with bullish sentiment at this point. Overall activity was sustained for yet another at week at the firm levels that we have become accustomed to of late. Moreover, given the rising trajectory in both freight returns and asset price levels, it may well seems that a robust direction is taking ...

The Baltic Exchange’s main sea freightindex rose on Tuesday as another surge in supramax vessel ratescountered lower prices for the capesize and panamax segments. The Baltic dry index, which tracks rates forcapesize,panamax and supramax vessels ferrying dry bulk commodities,gained 18 points, or 1.1%, to 1,727. The capesize index slipped 79 points, or 4.7%, to1,594. Average daily earnings for capesizes, which typicallytransport150,000-tonne cargoes such as iron ore and coal, fell $657 to$13,216. Chinese iron ore futures dropped as much as 3.5% onTuesdayafter top steel-producing city Tangshan issued a second-levelpollution alert forcing ...

China’s iron ore imports hit a record 1.17 billion metric tons in 2020, with the average import price up 7.3 percent year-on-year to $101.7 per ton, which analysts say reflects robust demand in the downstream steel market and a continued and stable recovery of the Chinese economy. The amount exceeded the previous record of 1.08 billion tons in 2017, said the General Administration of Customs. The corresponding value of imported iron ore also hit a record 822.87 billion yuan ($127 billion) last year, an increase of 17.4 percent year-on-year, also ...

Chinese iron ore futures dropped as much as 3.5% on Tuesday after top steel-producing city Tangshan issued a second-level pollution alert forcing mills to curb production. Output at steel mills and coking plants in Tangshan will be limited from Feb. 23 in response to expected heavy pollution, while production at hot rolled and cold rolled producers will be suspended, the local government said in a statement. The most-traded iron ore futures on the Dalian Commodity Exchange, for May delivery, closed down 2.9% at 1,107 yuan ($171.34) a tonne. It fell ...

Today, Tuesday , February 23 2021 , the Baltic Dry Index climbed by 18 points, reaching 1727 points.

Evidence is mounting to support an escalating recovery in demand for dry bulk commodities in countries other than China, attributed to both rising consumption and restocking of raw materials. The latest HORIZON Dry Bulk Monthly* report from Maritime Strategies International notes that even with China currently celebrating Chinese New Year, earnings across all dry bulk segments have been remarkably firm in a period typically characterised by seasonal weakness. When assessed against pre-pandemic January 2020, Capesize daily spot earnings in January this year were 186% higher yoy, Panamax 104%, Handymax 91% ...

The Baltic Exchange’s main sea freightindex gained on Monday as surging supramax rates counteredweakness in the larger vessel segments. The Baltic dry index, which tracks rates forcapesize,panamax and supramax vessels ferrying dry bulk commodities,edged 11 points, or 0.6% higher, to 1,709. The capesize index dipped 42 points, or 2.4%, to1,673. Average daily earnings for capesizes, which typicallytransport150,000-tonne cargoes such as iron ore and coal, fell $351 to$13,873. Coking coal and coke futures on the Dalian CommodityExchangeplunged on Monday, as some mills attempt to lower purchaseprices of the steelmaking ingredients due ...

Argentina’s barley exports to China are set to soar to a record 1 million tonnes in 2021, industry sources and sales data show, as Beijing looks beyond its traditional top supplier Australia amid a lengthy diplomatic standoff between the two countries. The sales bonanza, revealed by industry sources in Argentina and China, underscores how the South American grains powerhouse is plugging the supply gap that opened last year after diplomatic tensions led China to slap a 80.5% tariff on Australian barley. Export declarations, filed to Argentina’s ministry of agriculture, show ...

Today, Monday , February 22 2021 , the Baltic Dry Index climbed by 11 points, reaching 1709 points.

Capesize As one of the more wild weeks in the first quarter for the Capesize comes to an end, the market feels more like it’s in reprieve mood contemplating what comes next. From last Friday at $10,304, the Capesize 5TC reached a high on Wednesday of $15,856 before retreating to close the week out at $14,224. The Australia and Brazil to China routes battled it out for tonnage throughout the week as Owners were swayed in both directions. The west Australia to China C5 opened the week at $5.82, peaked ...