The Baltic Exchange’s dry bulk sea freight index rose on Tuesday for the fourth consecutive session driven by a jump in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 132 points, or 5.8%, to 2,391 – its highest level in one-and-a-half years. The capesize index surged 360 points, or 9.4%, to 4,179 – its highest since May 2022. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, added $2,985 to ...

India will step up imports of coking coal, a key material in steel manufacturing, from Russia, as cargoes from top supplier Australia drop and steel mills struggle with rising prices, three government sources and an industry executive said. Steel mills in India, the world’s second-biggest crude steel producer, have struggled with patchy supplies of coking coal from Australia, which normally accounts for more than half of India’s annual imports of around 70 million tonnes. Last month, prices for Australian coking coal jumped 50% to over $350 a metric ton due ...

Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, has acquired an additional 2016-built 181,000 dwt scrubber-fitted Capesize vessel, the Genco Reliance, for a purchase price of $43.0 million. The Company took delivery of the Genco Reliance, as well as the previously announced Capesize acquisition, the Genco Ranger, during the last week of November 2023. Genco also announced today that it has agreed to sell the Genco Commodus, a 2009-built 169,098 dwt Capesize vessel, for $19.5 million. This anticipated sale will ...

Seaborne iron ore prices are set to climb to as much as $150 per ton in the first half of 2024, according to analysts who have lifted their estimates on expectations of increased demand in China after recent stimulus measures. The price outlook compares with earlier estimates of $130 per ton, and Monday’s level of $135 per ton. It is, however, still far below the record $232.5 a ton reached in May 2021, according to data from consultancy Steelhome. Iron ore has rallied in recent weeks after China’s central government ...

The dry bulk fleet’s net growth this year, won’t surpass the 3% mark, marginally higher than 2022, but lower than both 2021 and 2020, maintain the favorable fundamentals picture of the past few years. In its latest weekly report, shipbroker Intermodal said that “as we approach the end of 2023, it becomes pertinent to examine the development in the supply of bulk carriers throughout the year. During the initial eleven months of 2023, the industry witnessed the commissioning of 416 bulk carriers, culminating in a total deadweight tonnage (DWT) of ...

The Baltic Exchange’s dry bulk sea freight index rose on Monday for the third consecutive session to its highest level in one-and-a-half years, steered by higher demand for larger shipping vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 157 points, or 7.5%, to 2,259, its highest since June 2022. The capesize index surged 434 points, or 12.8%, to 3,819, also climbing to a one-and-a-half year peak. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ...

China’s imports of thermal coal in November are poised to surge to the second-highest monthly total this year, helping drive prices higher for the grades most commonly sought by the world’s biggest buyer of the power station fuel. Thermal coal imports are expected to be around 29.21 million metric tons in November, up from October’s 24.62 million and second only to the 30.21 million in May, according to data compiled by commodity analysts Kpler. China’s imports are being driven by increased arrivals from Indonesia, the world’s largest exporter of thermal ...

Singapore iron ore futures retreated on Monday as caution mounted after the world’s top consumer issued warnings on enhancing supervision on the market, and as investors awaited details from the government on property-related stimulus. The benchmark December iron ore contract on the Singapore Exchange was down 0.64% at $133 a metric ton, as of 0705 GMT. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trading 0.36% higher at 980.5 yuan ($135.97) a ton. China’s state planner said on Friday it would strengthen the supervision ...

Capesize For the first half of the week, the market faced subdued activity, particularly in the Pacific with a slight downward movement on rates on C5. The Atlantic market also experienced limited activity, with discussions on C3 reflecting a somewhat subdued sentiment. As the week progressed, the Pacific saw lower trading volumes, resulting in a decline in market activity and increased pressure, with rates on C5 dropping by approximately a further 85 cents. However, the Atlantic witnessed heightened activity late in the day, particularly originating from South Brazil and West ...

Iron ore imports from the EU have been on the decline, with 2023 proving to be no exception. In its latest weekly report, shipbroker Banchero Costa said that “2023 has been so far a positive year for global iron ore trade. In Jan-Oct 2023, global loadings of iron ore increased by +5.1% y-o-y to 1,343.8 mln tonnes, from 1,278.9 in the same period of 2022, based on AXS Marine vessel tracking data. It is also just above the 1,320.1 mln tonnes loaded in Jan-Oct 2021, which was the last all-time ...

The Baltic Exchange’s dry bulk sea freight index rose on Friday to post its third straight weekly gain as rates strengthened across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 247 points, or 13.3%, to 2,102. It was up 15.5% this week. The capesize index surged 706 points, or 26.4%, to 3,385. The index rose 22.5%this week. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, added $5,855 to $28,071. ...

Iron ore futures erased earlier losses and are set for their fifth weekly gain on Friday as property support-led optimism in top consumer China outweighed headwinds from the latest intervention from authorities. The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.61% higher at 986.5 yuan ($136.80) a metric ton. The benchmark December iron ore on the Singapore Exchange climbed 0.88% to$134.35 a ton, following a 1.15% drop in the previous session. The persistent strength in the price of the key steelmaking feedstock came after ...

Today, Friday, November 24 2023, the Baltic Dry Index climbed by 247 points, reaching 2102 points.

The panamax market has been on a rally over the past few days. In its latest weekly report, shipbroker Xclusiv said that “on Friday 17th November 2023, BPI hit 1,874 points and the weighted average of the 5 T/C routes reached USD 16,868. The Panamax index hasn’t seen these levels since 27th October 2022, when the index stood at 1,900 points. The BPI has increased about 30% the last 10 days in order to reach almost a 11 months high. The route Skaw-Gibraltar Transantlantic round voyage, has significantly boosted the ...

The Baltic Exchange’s main sea freight index snapped its three session losing streak on Thursday, helped by stronger vessel rates across segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, hit a month high. It rose 100 points, or 5.7%, to 1,855. The capesize index gained 264 points, or 11%, to 2,679. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, were up $2,187 to $22,216. * Iron ore futures retreated, as intervention from ...