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Dry Bulk Market

Soaring freight rates force Brazil soybean sellers to lower offers

Declining supply of iron ore from Australia and rampant Chinese steel production has seen demand for freight from Brazil to China rise again over the past week, market sources said Tuesday, a dynamic that is forcing soybean sellers to offer more aggressively in the marketplace. Offers for soybeans for August shipment out of Paranagua fell from 95 c/bu on Friday to 85 c/bu over August futures on Tuesday at time of press. With August futures falling 23 c/bu over the same period, soybeans loading out of Paranagua next month have ...

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NYK Introduces Its Innovative Dry-bulk Market Fluctuation Analysis to Maritime Economists

In June at the annual conference of the International Association of Maritime Economists (IAME), NYK introduced the results of a new analysis the company had performed on fluctuations in the dry-bulk market. Koichiro Hayashi, manager of the Bulk/Energy Research Team in NYK’s Research Group, spoke about NYK’s focus on the fact that the market is in an independent cycle from supply and demand fluctuation. He introduced an analysis that demonstrated that market turning points could be predicted with higher accuracy than before, thus aiding with business decisions. The IAME was ...

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Baltic index extends gains on capesize, panamax demand

The Baltic Exchange’s main sea freight index rose on Wednesday, driven by demand for capesize and panamax vessels. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.6%, or 53 points, to 2,064, its highest since January 2014. The index has surged about 60% this year. The index extended gains for a seventh straight session, mainly driven by strong demand for vessels that ship iron ore from Brazil. A restart of Vale SA’s Brucutu mine in Brazil that was shut in early February after a tailings ...

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Australia’s Port Hedland iron ore shipments to China jump 11% in June

Pilbara Ports Authority has delivered a total annual throughput of 697.2 million tonnes (Mt) for the 2018/19 financial year. This result is a less than 1% change (decrease of 2.06 million tonnes) from last year’s record annual throughput. In June 2019, Pilbara Ports Authority achieved a total monthly throughput of 64Mt, a 1% increase on the same month in 2018. Iron ore throughput for June 2019 increased 2% from June 2018, to 60.2Mt. Total iron ore throughput for 2018/19 was 647.8Mt, a 1% decrease on 2017/18. Port of Port Hedland ...

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Two Chinese ports halt customs clearances for coal imports: sources

Chinese customs is no longer permitting coal cargoes to enter the country at the ports of Jingtang and Caofeidian, said three coal traders, who were told by customs officials of the halt on Tuesday. Customs officials at the port of Jingtang, one of China’s biggest coking coal import points, and the neighboring port of Caofeidian said they would halt customs declaration services from July 16 until further notice, the traders said on Wednesday. No reason was given for the service halt at the ports, which are located on the Bohai ...

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Baltic Dry Index climbs to 2064, up 53 points

Today, Wednesday, July 17 2019, the Baltic Dry Index climbed by 53 points, reaching 2064 points.

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Dry Bulk Carriers’ Newbuilding Orders Slowing Down

Despite the latest surge in the dry bulk market, ship owners seem to prefer the short-term gains, opting for second hand tonnage, rather than investing in more newbuildings. In its latest weekly report, shipbroker Allied Shipbroking said that “new ordering activity seems to have slowed for dry bulkers for now, with a mere 3 units being added to the global orderbook this past week. Interestingly enough, all 3 vessels were Capesizes, reflecting the revived appetite for this specific segment, in line somehow with the improved earnings being noted of late. ...

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Vast Majority of Bulkers Sold Aren’t Capesizes

Ships’ valuations expert VesselsValue recently published its half year report on the S&P market. Bulker A total of 204 bulkers have been sold since the beginning of 2019, interestingly however only 6 of these have been Capesize bulkers. During a period of 4 months from December – April, no Capesize sales were concluded. This break of 106 days had never been seen in the market before. The lack of activity can be attributed to a lull in buying confidence brought on by poor spot rates and the collapse of the ...

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Baltic index gains for sixth session as capesize rates jump

The Baltic Exchange’s main sea freight index on Tuesday extended gains for a sixth straight session as demand for capesize vessels shipping iron ore surged. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 4.3%, or 83 points, to 2,011, its highest since January 2014. The index has surged about 60% this year. * The index extended gains for a sixth straight session, mainly driven by strong demand for vessels that ship iron ore from Brazil. * A restart of Vale SA’s Brucutu mine in ...

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China’s commodity demand holds up, with copper the exception

One of the prevailing China narratives in commodity markets is that the trade dispute with the United States is weakening demand in the world’s biggest importer of natural resources. The problem is the numbers tell a somewhat different story. While the overall economy may be feeling strain, with gross domestic product growth slipping to 6.2% in the second quarter from 6.4% in the first, demand for commodities has held up remarkably well. China’s June customs data saw month-on-month declines in imports of copper, coal, iron ore and crude oil, helping ...

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Chinese coal imports to plunge in H2 – analysts

Chinese coal imports are likely to plunge in the second half of 2019 as customs officials face the prospect of exhausting their quotas from as early as September, analysts have told Montel. The world’s biggest coal consumer imported 154m tonnes of the fuel over the first half of this year, up 6% year on year, customs data showed last Friday. This leaves officials with a choice of curbing foreign purchases for the remainder of the year or violating a government target to limit import volumes to around last year’s level ...

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Baltic Dry Index climbs to 2011, up 83 points

Today, Tuesday, July 16 2019, the Baltic Dry Index climbed by 83 points, reaching 2011 points.

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Brazil’s Soybean Lead Over the U.S. Gets Boost From Amazon Ports

Brazil, the biggest soybean exporter, is strengthening its lead against the U.S. after trading giants spent billions of dollars on building new terminals and developing routes to ports in the north through the Amazon region. “Brazil’s northern ports are allowing the country to export big volumes of grain without the historical loading delays or vessel queues,” said Sergio Mendes, general director at the grain-export group Anec. “Traders are shipping through the north the same soybean volumes they usually export from Santos, Latin America’s largest port,” in the south, he said. ...

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China June coal output hits record high as miners ramp up ahead of summer

China’s coal output rose in June from the previous month to a record high, official data showed, as miners ramped up production to ensure supply ahead of peak summer demand for electricity. The world’s top coal producer churned out 333.35 million tonnes of coal in June, up 6.7% from May and up 10.4% year-on-year, data from the National Bureau of Statistics showed. Output over the first half of 2019 reached 1.76 billion tonnes, up 2.6% from the same period last year. Summer is typically a high season for electricity demand ...

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Dry Bulk Market: From a Four-Year Low to a Five and a Half Year High

The dry bulk market has been on a rollercoaster ride over the past few months, in a further testament that the Post-Lehman era for shipping and the global economy will be dominated by very big market fluctuations. Amid such a freight rate market, things are more than tricky in terms of valuations in the S&P market for ships as well. In its latest weekly report, shipbroker Intermodal said that “in contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the ...

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