In terms of number of ships, the orderbook to fleet ratio currently stands at 12% in terms of number of vessels and in terms of dwt this figure rises to 13%. If we break this down further to take in to account each individual sector of the dry bulk fleet, the Post Panamax sector accounts for the highest orderbook to in service vessels percentage, at 24% and in contrast the percentage for the Panamax fleet is just 2%, implying a trend towards the larger end of the scale for Panamax ...

GoodBulk Ltd., a leading owner and operator of dry bulk vessels, announced its financial results for the fourth quarter of 2018. 4th Quarter Highlights • Generated $10.6 million of net profit resulting in earnings per share (EPS) of $0.35. EBITDA for the period was $26.0 million. • Net profit was net of $2.5 million one-off costs incurred as part of the IPO process, which have been charged to the Statement of Profit or Loss for the fourth quarter. • Earned an average gross Time Charter Equivalent rate (TCE) of $17,747 ...

Chinese coal traders are halting purchases of Australian coal and coking coal as clearing times through China’s customs have at least doubled to 40 days or more, four traders at major buyers told Reuters on Monday. The traders said only cargoes from Australia, the biggest supplier of the fuel to the world’s top consumer, were affected. “We have stopped ordering coal from Australia because it is unknown how long the restriction will last,” said a manager at a Shanghai-based trading company who usually buys around 400,000 tons of Australian coal ...

Today, Monday, February 18 2019, the Baltic Dry Index climbed by 4 points, reaching 643 points.

Russia will be able to sell more wheat to Iran if the Middle East nation’s millers get Russian loans to fund the purchases, the Tehran Chamber of Commerce said. Iran, which recently has bought only small amounts from Russia, on Tuesday agreed to import more from the world’s top shipper. The pact, which follows a similar agreement last year, calls for credit lines from Russia to facilitate trade. It comes as Russia eyes new markets and Iran encourages flour exports. Under the new memorandum of understanding, the wheat purchases can ...

Capesize Despite the focus on Vale and reduced Brazil exports, there were signs of further demand this week that checked further falls. On the downside, higher bunker prices negated any real increase in owners’ returns. Other charterers took up some of the slack from Vale, providing several February cargoes from Brazil to China, with rates hovering in the low to mid $13.00s equivalent to loading from Tubarao. As the week closed out, there was a rumour of CSN covering a 10-20 March cargo from Itaguai to Qingdao at $12.99, but ...

Just as trucking spot rates are hitting two-year lows, ocean shippers are seeing rates hit similar lows amid a slowdown in China and upheavals in bulk commodity trade. The Baltic Dry Index, which measures rates across different dry bulk ships, sits at its lowest point since April 2016 and 65 percent below its August peak. The largest importer of seaborne iron ore and coal, China saw its economy grow at the slowest rate since 1990 last year with demand for iron ore also falling 1 percent. The Lunar New Year ...

China’s coal imports soared in January, more than tripling from the prior month to 33.5 million tonnes, but there are compelling reasons to treat this outcome with caution, including weakness in benchmark Australian coal prices. January’s coal imports were the highest in five years, rising 228 percent from the weak 10.23 million tonnes reported for December. It’s a characteristic of commodity markets that there isn’t always a straight line between supply and demand and prices, and the resurgent buying by the world’s top importer of the polluting fuel is a ...

Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunction services showed. mjunction, a joint venture between Tata Steel and SAIL, is a B2B e-commerce company that also publishes research reports on coal and steel verticals. However, the imports increased by 5.1 per cent to 189.9 million tonnes (MT) in the April-January period, the report said. Coal imports were at 180.61 (MT) in the April-January period of the previous fiscal. “There ...

Russia’s second-biggest bank VTB is buying one of the biggest grain terminals at the Black Sea port of Novorossiisk, in a surprise move that gives the state lender more control over the country’s main deep-sea grain export hub. VTB, which already owns a stake in another grain terminal at the port, said on Thursday that it was buying 100 percent of Novorossiysk Grain Terminal from Novorossiysk Commercial Sea Port (NSCP). Its deal to buy the terminal from NSCP, which is controlled by another powerful state-controlled group – oil pipeline monopoly ...

Today, Friday, February 15 2019, the Baltic Dry Index climbed by 11 points, reaching 639 points.

China’s iron ore imports climbed 5.3 percent in January from December, customs data showed, supported by strong restocking demand at steel mills ahead of the week-long Lunar New Year holiday this month. Shipments of the steelmaking raw material last month were 91.26 million tonnes, up from 86.65 million tonnes in December, but were still shy of 100.3 million tonnes in January last year, data from the General Administration of Customs showed on Thursday. January arrivals were at the highest level since September. Steel mills in China typically replenish their inventories ...

Today, Thursday, February 14 2019, the Baltic Dry Index climbed by 20 points, reaching 628 points.

Today, Wednesday, February 13 2019, the Baltic Dry Index climbed by 10 points, reaching 608 points.

Today, Tuesday, February 12 2019, the Baltic Dry Index climbed by 3 points, reaching 598 points.