Today, Tuesday, August 03 2021, the Baltic Dry Index showed no change, remaining at 3281 points.

The iron ore-led dry bulk market boom could still have enough steam to run, despite the recent negative pressure on iron ore prices. In its latest weekly report, shipbroker Allied Shipbroking said that “one of the major trades that has helped drive the rapid rise in the dry bulk market this year has undoubtedly been that of iron ore. The most prominent commodity in the dry bulk space has had an exceptional bull run since the end of 2020 and still seems to have plenty more gains to give moving ...

The Baltic Exchange’s main sea freight index dipped on Monday on losses in the large and medium-sized vessel segments. The index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, inched 10 points lower, or 0.3%, to 3,282. The capesize index dropped 34 points, or 0.8%, to 4,272. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, lost $284 to $35,429. Chinese ferrous futures fell on Monday, with steel rebar and hot rolled coils both plunging some 6%, after Beijing ...

China’s coal buyers are bracing for prices to rise in the second half of the year, from already near-record levels, as Beijing’s drive to boost domestic mine safety cuts into local output even as booming imports may be reaching their natural limits. Beijing is striving to strike a balance between increasing supplies to cool record prices that have squeezed its coal-reliant utilities while improving mine safety. In July, local media reported more than 20 mines in major coal hub Shaanxi province were shut for safety checks after a flooding accident. ...

Today, Monday, August 02 2021 , the Baltic Dry Index decreased by 10 points, reaching 3282 points.

China will release more than 10 million tonnes of coal from state reserves to ensure steady supply to the market, the state planner said in a statement. The fifth such release this year will come from dozens of reserve hubs and key ports nationwide, the National Development and Reform Commission said, adding that the government would arrange further releases in line with market demand. The four previous releases this year totalled more than 5 million tonnes. The state planner in April urged power plants, coal miners and major coal transport ...

Capesize The Capesize market strengthened this week as Pacific routes were affected by weather incidents pushing the 5TC up $3,244 week on week to settle at $35,713. China endured typhoon In-Fa throughout the week as it closed ports and disrupted tonnage flows along the eastern seaboard. The Transpacific C10 added a whopping $4,238 on Friday alone to close out the week at $45,413 as the effects translated through to the charter rates. The Backhaul C16 also turned up the heat on Friday, rising $4,460 to $11,895 as stronger fixtures had ...

Amid all the talk of global warming, climate change-induced catastrophes, decarbonization and green finance, the global trade in “dirty” coal is enjoying an ironic renaissance. Bulk ships are busy transporting coal to Asia — and to eco-conscious Europe — boosting freight income for some of the very shipowners who publicly tout their environmental bona fides to investors. “Turns out the news of the demise of coal has been greatly exaggerated,” said Stifel analyst Ben Nolan in a new client note. “Despite an unseemly carbon footprint, coal demand is actually accelerating ...

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and six months periods ended June 30, 2021. Management Commentary Dr. Loukas Barmparis, President of the Company, said: ”We are happy to present to our shareholders the financial results for the second quarter 2021, with strong profitability, reduced debt and substantial actions towards fleet renewal.” Update on COVID-19, company’s actions and status There has been a negative effect from the COVID-19 pandemic on the Company’s results of operations and financial condition ...

International shipping company Seanergy Maritime Holdings Corp. reported second-quarter gross revenue of $28.9 million, a 209% increase compared to the second quarter of 2020. Seanergy said it is entering a strong period for Brazilian iron ore exports and coal prices are at highs. On market conditions: “Looking ahead, we are entering the seasonally ‘strong’ period for Brazilian iron ore exports as local miners are ramping up production, supported by favorable weather conditions and ‘clean’ plant maintenance schedules.” “At the same time coal prices are at the highest level of the ...

The Baltic Exchange’s main sea freight index gained on Friday as the capesize index hit an over two-month peak, offsetting losses in the panamax segment that posted biggest monthly fall in 18. The index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 78 points, or 2.4%, to 3,292, the highest since July 12. The index rose 2.9% for the week, yet ended the month 2.7% lower. The capesize index jumped 250 points, or 6.2%, to 4,306, its highest since May 13, rising ...

The global economic recovery is still on track, but it is being skewed more heavily towards advanced economies who are being buoyed by fiscal support, access to vaccines and improved health metrics, according to the International Monetary Fund (IMF). Referencing widening fault lines in its July World Economic Outlook (WEO), the IMF said that while the global economy 2021 growth projection of 6% is unchanged from its April update, prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. The slight rise in ...

Asia’s iron ore futures tumbled on Friday, collapsing under the weight of China’s resolve to reduce steel output in line with its de-carbonisation drive, and slowing domestic demand for the construction and manufacturing material. Supply concerns, however, pushed stainless steel higher to mark its biggest monthly gain on the Shanghai Futures Exchange since trading of contracts began in 2019. Iron ore on China’s Dalian Commodity Exchange closed daytime trading 8.1% lower at 1,027 yuan ($158.95) a tonne, with its monthly loss of nearly 8% the steepest since February 2020. The ...

Today, Friday, July 30 2021 , the Baltic Dry Index climbed by 78 points, reaching 3292 points.

Seanergy Maritime Holdings Corp., announced its financial results for the second quarter ended June 30, 2021. For the quarter ended June 30, 2021, the Company generated gross revenues of $28.9 million, a 209% increase compared to the second quarter of 2020. Adjusted EBITDA for the quarter was $11.3 million, from negative $1.8 million in the same period of 2020. Net income for the second quarter was $2.0 million compared to net loss of $11.3 million in the second quarter of 2020. The daily Time Charter Equivalent (“TCE”)1 of the fleet ...