The Baltic Exchange’s main sea freight index posted its biggest single-day gain since mid-March on Tuesday, supported by higher rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 77 points, or 8.2%, to 1,016, its biggest daily percentage gain since March 14. The capesize index jumped 205 points or 17.4% to 1,383 – its biggest rise in over three months. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore ...

Iron ore futures rose on Tuesday to their highest levels in about seven weeks, as hopes grew for more property sector-focused stimulus measures in top steel producer China. Steel benchmarks and other steelmaking ingredients in China also advanced as real estate stocks listed in Hong Kong jumped nearly 8% on hopes that Beijing would soon roll out supportive measures to bolster the embattled property sector. The most-traded September iron ore on China’s Dalian Commodity Exchange ended morning trading 3.1% higher at 780 yuan ($109.71) a tonne, just below the session ...

After crude oil, the import of yet another key Russian resource is set to flood the Indian market in the years ahead: coking coal. The reasons remain the same—lower prices, quicker deliveries, and supply diversification. Russia’s supply of coking coal—the prime raw material in steelmaking—may more than double in FY24, led by state-owned Steel Authority of India Ltd and private steelmakers such as JSW Steel Ltd and Jindal Steel and Power Ltd (JSPL), two officials aware of the matter said. India’s coking coal imports stood at 54 million tonnes (mt) ...

Capesize The capes have faced a challenging week, marked by holiday disruptions. Despite a slow start to the week, there has been no shortage of cargo in both the Atlantic and Pacific regions. However, both markets have been grappling with an excess supply of tonnage, which has been putting downward pressure on the market. By the middle of the week, there was a significant downturn in sentiment and the overall timecharter index lost 33% to close at $9,254. The North Atlantic saw a flurry of fixing at considerable discounted rates, ...

A run of weak economic data in China is likely to show up in softer imports of key commodities, albeit with a lag given the time taken to physically ship resources from around the globe. The manufacturing indicator, the official Purchasing Managers’ Index (PMI), dropped to a five-month low of 48.8 points in May, the National Bureau of Statistics (NBS) said on Wednesday. This was the second month the measure was below the 50-level that separates expansion from contraction, and it was also weaker than the median forecast for a ...

Globus Maritime Limited, a dry bulk shipping company, today reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2023. Revenue $8.6 million in Q1 2023 compared to $18.4 million in Q1 2022 Net income $2.6 million in Q1 2023 compared to $12.1 million in Q1 2022 Adjusted EBITDA $1.3 million in Q1 2023 compared to $13.8 million in Q1 2022 Time Charter Equivalent $8,780 per day in Q1 2023 compared to $23,643 per day in Q1 2022 Current Fleet Profile As of the date of ...

Ukraine would be ready to continue exporting grain across the Black Sea as part of a “plan B” without Russian backing if Moscow pulls the plug on the current grain export deal and it collapses, Ukraine’s farm minister said on Friday. The United Nations and Turkey brokered the Black Sea Grain Initiative between Moscow and Kyiv last July to help tackle a global food crisis aggravated by Russia’s February 2022 invasion of Ukraine, a leading global grain exporter. Agriculture Minister Mykola Solsky told Reuters that Russia had already blocked the ...

The Baltic exchange’s main sea freight index extended losses for the 16th straight session on Friday and were on track for its biggest weekly decline since early January. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 18 points, or 1.9%, to its lowest in more than three months at 919. The main index was down 21.6% for the week – its lowest since the week ending Jan. 6. The capesize index lost 28 points or 2.5% to 1,116. The index slumped over 33% ...

Dalian iron ore rose on Friday to a six-week peak, while the steelmaking ingredient’s benchmark price in Singapore hit the highest in two weeks, extending a rally spurred by surprise growth in China’s factory activity in May. Iron ore also headed for sharp weekly gains, as market commentators continued to speculate about top steel producer China rolling out additional stimulus to support an uneven and fragile post-COVID economic recovery. The most-traded September iron ore on China’s Dalian Commodity Exchange ended daytime trading 2.9% higher at 745.50 yuan ($107.85) a tonne, ...

Today, Thursday, June 02 2023, the Baltic Dry Index decreased by 18 points, reaching 919 points.

HIGHLIGHTS For the First Quarter of 2023 • Revenue for the quarter: US$14 million • Net loss for the quarter: US$13 million • Basic loss per share: US$0.117 • Gearing ratio as at 31 March 2023: 7% First Quarter Report 2023 | Page 1 The Board of Jinhui Shipping and Transportation Limited (the “Company”) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the “Group”) for the quarter ended 31 March 2023. FIRST QUARTER 2023 RESULTS Revenue for the first quarter of 2023 decreased ...

Top Philippine coal producer Semirara Mining and Power Corp. SCC.PS said on Thursday it will ship 50,000 tonnes of coal to Japan’s Shikoku Electric Power Co Inc. 9507.T, as it diversifies its export markets and cuts reliance on China. Semirara’s second trial shipment to Japan for Shikoku’s 700-megawatt power station follows its sale of 78,410 tonnes of mid-grade coal to J-Power 9513.T in January, it said in a statement. “China is still our main foreign buyer but with their industrial output growing slower than expected, we want to develop other ...

The Baltic exchange’s main sea freight index extended losses for the 15th session straight on Thursday, hitting its more than three-month low as shipping rates fell across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 40 points, or 4.1%, to its lowest since Feb. 24 at 937. Weaker demand for imported coal in Europe, improved supply and a seasonal lull in some of the coal trades into China are the factors pressuring overall index, said Alexis Ellender, dry bulks analyst ...

Brazil is exporting 178,800 tonnes of soybeans to buyers in the United States, shipping data seen by Reuters showed, as the price of the oilseed in the South American country, the world’s largest soybean supplier, is a bargain even for importers in the No. 2 producing nation. According to May 30 data from Williams, a shipping agency, three vessels loaded with Brazilian soybeans will leave ports in the northern part of the South American nation between June 4 and June 11. Two others departed Brazilian ports last week. The purchases ...

Ukraine’s ministry of renovation and infrastructure said on Thursday the U.N.-brokered Black Sea grain export deal had been halted again because Russia had blocked registration of ships to all Ukrainian ports. The United Nations and Turkey brokered the Black Sea Grain Initiative between Moscow and Kyiv last July to help tackle a global food crisis aggravated by Russia’s invasion of Ukraine, a leading global grain exporter. Russia agreed in May to a two-month extension of the deal but has said the initiative will cease unless an agreement aimed at overcoming ...