The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses for a sixth consecutive session on Friday, on weak demand across all vessel segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 6 points, or 0.3%, to 1,855. The overall index posted its fifth weekly loss in six, closing 3.6% lower. The capesize index was down by 17 points, or 0.6%, at 3,064, falling for a sixth straight session. The average daily earnings for capesizes, which typically ...

Today, Friday, October 18 2019, the Baltic Dry Index decreased by 6 points, reaching 1855 points.

Ship owners from the two main shipping “powerhouse” markets, i.e. the dry and wet ones, have been enjoying a period of elevated freight rates of late. In its latest weekly report, shipbroker Intermodal said that “in perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with regards to freight rates. Starting from the early-mid of summer the dry bulk industry followed a significant upward trend and despite some minor corrections that have been occurred lately, the BDI ...

Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture is less rosy, according to government research. A recent report from Australia’s Department of Industry, Innovation and Science maintains a confident outlook for the coming year. Resources and Energy Quarterly, published at the end of September, anticipates that Australian resource exports will hold up in 2019-20, projecting A$282 billion in exports over the forecast period. But with a less stable world industrial production outlook, the demand forecast for 2021 ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, slipped for a fifth straight session on Thursday, as dim demand across all vessel segments continued to weigh on the index. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 36 points, or 1.9%, to 1,861. The capesize index fell 113 points, or 3.5%, to 3,081, touching a one-week low. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined by ...

Today, Thursday, October 17 2019, the Baltic Dry Index decreased by 36 points, reaching 1861 points.

There was a net addition of 6.7 million dwt added to the Handysize and Supramax trading fleet in the first nine months of 2019, according to new research from ship broker Banchero Costa, with some 4.7 million dwt delivered in the Ultramax sector. According to Bancosta’s Handy and Supramax Market Outlook, the net increase in deadweight tonnage across the fleet was driven by deliveries of 60,000-64,999 dwt Ultramaxes and of 30,000-39,999 dwt Handysizes. The 40,000-49,999 dwt Supramax and 20,000-29,999 dwt Handysize categories both declined, as demolitions outweighed new builds. Net ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a one-week low on Wednesday, on weaker demand for all vessel segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down 1 point at 1,897, extending losses to a fourth session. The capesize index fell 10 points, or 0.3%, to 3,194. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $174 to $25,838. China’s top steelmaking city ...

Mining heavyweight Rio Tinto’s shipments of the steelmaking raw material iron ore have risen 5 per cent in three months, despite concerns of the US-China trade war dampening demand from Chinese steel mills. The Anglo-Australian miner reported on Wednesday it had shipped 86.1 million tonnes of iron ore – Australia’s most valuable export commodity – in the July-September quarter, up from 81.9 million tonnes a year earlier. “We have delivered improved production across the majority of our products in the third quarter, with a solid result at our Pilbara mines ...

Today, Wednesday, October 16 2019,  the Baltic Dry Index decreased by 1 point, reaching 1897 points.

Brazil’s Vale SA said its third-quarter iron ore production was up from the previous quarter but still down 17.4% from a year ago, as the miner slowly began to resume production at mines that were shut down following a deadly dam burst in January. The company produced 86.704 million tonnes in the July-September period, up more-than two-thirds from the second quarter as operations resumed at Brucutu, its largest mine in the southeastern state of Minas Gerais, and at part of its Vargem Grande complex. In a securities filing, the world’s ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for a third consecutive session on Tuesday, due to lower demand for larger capesize and panamax vessels. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 18 points, or 0.9%, to 1,898. The capesize index dropped 50 points, or 1.5%, to 3,204. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $401 to $25,664. The panamax index was down ...

On the surface China’s imports of major commodities appeared to continue their resilience in September, even as the country’s total exports and imports laboured under the strain of the trade dispute with the United States. But while volumes held up in September for imports of crude oil, natural gas, iron ore, coal and copper, it’s worth sounding a note of caution given the timing of the week-long national holidays in the first week of October. There is every chance that some of the strength in September’s commodity imports was because ...

China’s coastal bulk freight market saw an overall demand growth in September, according to the Shanghai Shipping Exchange (SSE). The composite index for coastal bulk freight climbed to 1,094.11 in September, up 5.1 percent from a month earlier, the SSE said. The index averaged 1,031.61 as of Oct. 9 since the beginning of 2019, down from an average of 1,149.05 for 2018. Last month, the sub-index for grain saw the strongest rally of 16.4 percent to stand at 984.96, followed by that for coal and metal ore. The sub-index for ...

China saw robust growth of major bulk commodity imports in the first nine months of this year, data from the General Administration of Customs (GAC) showed. The country’s imports of crude oil climbed 9.7 percent year on year to 369 million tonnes during the period. Coal imports increased 9.5 percent year on year to 251 million tonnes, according to the GAC. A total of 71.22 million tonnes of natural gas were imported during the period, up 10 percent from one year earlier. However, iron ore imports during the period declined ...