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Dry Bulk Market

Ray of hope for Australian new crop wheat exports to Southeast Asia in 2020-21 marketing year

Australia has the potential to make a comeback in the Asian wheat market in the 2020-21 marketing year, which runs from October 2020 to September 2021, as production is anticipated to rebound on favorable weather conditions. The wheat exporting country lost significant market share in Southeast Asia in the last couple of years due to price uncompetitiveness on three consecutive drought years. Indonesia, which is traditionally Australia’s largest wheat importer, used to buy about 4 million mt of milling wheat each year. But the volume has more than halved every ...

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Australia’s resources export earnings to fall 10% in 2021 as pandemic hits

Australia’s mining and energy export earnings are expected to hit a record high this financial year then drop 10% in the year to June 2021 as commodity prices tumble due to coronavirus pandemic lockdowns, the government said on Monday. Resources export earnings are forecast to reach a record A$293 billion ($201 billion) in the year to June 2020 thanks to a surge in iron ore prices due to supply disruptions in Brazil and solid Chinese demand despite the coronavirus pandemic. However, the 2020 forecast was revised down by A$6 billion ...

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Baltic Dry Index climbs to 1794, up 45 points

Today, Monday, June 30 2020, the Baltic Dry Index climbed by 45 points, reaching 1794 points.

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China ramps up imports of cheaper Brazilian soybeans in May

China purchased 8.9 million mt of Brazilian soybeans in May, accounting for over 94% of its total monthly soy imports, while the US soybeans accounted for a dismal 5% share at 0.49 million mt, Chinese customs data showed June 25. Between January 1 and May 31, Brazilian real depreciated over 35% against the dollar, which made its soybeans very price competitive against its main rival, the US, market sources said. The Chinese crushers cashed in on this opportunity and bought a bulk of Brazilian beans in this period, as a ...

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Australia’s iron ore exports to China look safe for now

China’s iron ore demand is expected to remain at record levels this year off the back of a government infrastructure spending spree, before declining in 2021. Analysts, however, warn Beijing is looking for long-term alternatives to Australian imports. Xu Xiangchun, chief information officer at Chinese research firm MySteel said more than half the demand was being driven by steel products used in construction, such as reinforcing bars called rebar. On the flipside, the appetite for steel plates and other products used in manufacturing was declining because China’s factories were producing ...

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Dry Bulk Market: Capesize Market Reaches New Highs

Capesize As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a barrage of negative factors, the capesize 5TC market has outperformed in spectacular fashion to now reside at $29641. Breaking for a pause early on in the week, the market renewed conviction mid-week to push higher on the back of the tight tonnage supply in the Atlantic. This is often the case after periods of prolonged weak fundamentals. Vessels are now being seen changing hands in ...

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Baltic index up for 6th straight week on robust vessel demand

The Baltic Exchange’s main sea freight index edged higher on Friday, helped by an uptick in rates for capesize and panamax vessels, and posted a sixth consecutive weekly gain. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 11 points, or 0.6%, to 1,749 and rose 12.5% this week. The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that sapped demand for vessels. The Baltic ...

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Did Someone Mention Increasing Demand?

It is the panacea for all markets, the biggest factor that could help us recover some sense of normality, the only thing that will bring a smile to suppliers across the world. It is, of course, increasing demand. The virus has caused huge disruption and left markets unable to react quickly enough to counteract the dramatic drop in demand. Now, with the opening up of economies after lockdown, our thoughts – and those of traders, investors, economists, bankers etc – are increasingly turning to the question of increasing demand. With ...

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Baltic Dry Index climbs to 1749, up 11 points

Today, Friday, June 26 2020, the Baltic Dry Index climbed by 11 points, reaching 1749 points.

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Seanergy Maritime Holdings Corp. Expects Much Stronger Capesize Market in the Rest of 2020

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2020. For the quarter ended March 31, 2020, the Company generated net revenues of $13.3 million, a 17% decrease compared to the first quarter of 2019. EBITDA for the quarter was approximately $1 million, compared to EBITDA of $0.4 million in the same period of 2019 . Net loss for the first quarter was $8.3 million compared to net loss of $8.6 million in the first quarter of 2019. The daily Time Charter Equivalent (“TCE”)1 ...

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Second hand Ships A More Attractive Proposition for Ship Owners At Present

Ship owners are turning towards second hand ships in the post-pandemic era, at least for now, turning their backs on newbuilding orders. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, the relatively good momentum in the SnP market continued for yet another week, with both the activity being noted and buying appetite seemingly re-emerging at a fast pace. As of the past week, we experienced a good flow of transactions in the bigger size segments too (and for more modern units), helped (to ...

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Baltic index up for 20th session on stronger vessel demand

The Baltic Exchange’s main sea freight index extended gains for a 20th straight session on Thursday, on firmer rates across all vessel segments. * The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 33 points, or 1.9%, to 1,738, its highest since Oct. 30 * The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that sapped demand for vessels. * The Baltic capesize index gained ...

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Can dry bulk woo stock gamblers who bet on tankers?

Dry bulk was where day traders placed their bets back in the day, in the mid-2000s, but this year, traders on Robinhood and other retail platforms have instead put their chips on floating storage and stocks like Nordic American Tankers (NYSE: NAT). Here’s the emerging dry bulk shipping pitch: Dry bulk stocks trade in relatively high correlation with spot rates and unlike tanker stocks, they don’t face a painful floating-storage destocking phase. Dry bulk rates have just dramatically spiked off extremely low levels and could go much higher if Chinese ...

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Chinese imports continue to be held back at Indian ports as Customs orders thorough examination

Import shipments originating from China and Hong Kong are held back at major Indian seaports and airports since Monday, sources with knowledge of the matter have told CNBC-TV18. Customs authorities in Chennai, Delhi, Kolkata, and Ahmedabad have ordered these consignments to undergo a “100 percent examination” at the item-level, leading to significant delays. Even those shipments which have been given an Out of Charge (OOC) order are being held back at ports and container freight stations. Authorities have instructed that “Open and de-stuff all container cargo and examine 100 percent ...

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Baltic Dry Index climbs to 1738, up 33 points

Today, Thursday, June 25 2020, the Baltic Dry Index climbed by 33 points, reaching 1738 points.

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