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Dry Bulk Market

Baltic Dry Index falls to 3053 down 06 points

Today, Tuesday, July 20 2021 , the Baltic Dry Index decreased by 06 points, reaching 3053 points.

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Baltic index rises after four sessions of fall as capesizes rebound

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped its four-session falling streak on Monday as the capesize index bounced back. The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 20 points, or 0.7%, to 3,059. The capesize index rose 72 points, or 2.1%, to 3,514, having fallen in the previous four sessions. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, gained $597 to $29,139. The panamax index dropped for an eleventh ...

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Port of Hedland’s June Iron Ore Exports Down Compared to a Year Ago

Pilbara Ports Authority has delivered a total monthly throughput of 63.2 million tonnes (Mt) for June 2021. This throughput was a decrease of seven per cent compared to the previous June. The Port of Port Hedland achieved a monthly throughput of 50.8Mt, of which 50.4Mt was iron ore exports. This was a three per cent decrease when compared to June 2020. Imports through the Port of Port Hedland totalled 173,000 tonnes, a decrease of 10 per cent from the same month in 2020. The Port of Dampier delivered a total ...

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Baltic Dry Index climbs to 3059 up 20 points

Today, Monday, July 19 2021 , the Baltic Dry Index climbed by 20 points, reaching 3059 points.

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Dry Bulk Market Loses Steam

Capesize The Capesize market endured a week of eroding value across all regions as the 5TC lowered $2,430 week on week to settle at $28,572. While the Pacific’s West Australia to Qingdao C5 route closed out Friday up 25 cents to $10.841, appetite from major charterers in the spot market on this route have appeared tepid of late. Activity to the east of Australia for coal cargoes to Northern Asia remains strong while those coal cargoes destined for Europe, admittedly not so frequent, have been required to pay up for ...

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Buying picks up for lower-quality medium-grade iron ore fines

Discount levels for lower-quality medium-grade fines, such as MAC Fines and Jimblebar Fines, narrowed as Chinese mills became more cost-conscious amid subdued steel margins, according to spot trades tracked by S&P Global Platts. Chinese steel margins tumbled in the second half of May, as downstream steel demand weakened seasonally. Although margins showed some signs of recovery in July due to tightened supply outlook amid the widespread steel production curbs, they remained at lower levels historically, according to Platts data. Recently, MAC and Jimblebar Fines saw some buying interest return as ...

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Iron ore is in a bull market — and it won’t run out of steam soon, says Goldman

Iron ore has been in a bull market for more than two years, and it’s not about to end soon, according to Goldman Sachs. “It would be wrong to say that the bull market for iron ore, you know, is on the cusp of ending,” said Nicholas Snowdon, head of base metals and bulks research at the investment bank. It will likely only return to a “comfortable position” from 2023, Snowdon said on Tuesday at the Singapore Iron Ore Forum, which is part of Singapore International Ferrous Week. The bull ...

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Diana Shipping Inc. Announces the Acquisition of a Kamsarmax Dry Bulk Vessel

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from unaffiliated third parties the m/v Magnolia, a 2011 built Kamsarmax dry bulk vessel of 82,165 dwt, for a purchase price of US$22.0 million. The Company anticipates to take delivery of the vessel by the end of February 2022. Excluding the newly acquired vessel and upon completion of the previously announced sale of one Panamax dry bulk vessel, the ...

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China’s power use up 9.8% in June

China’s electricity consumption, a key barometer of economic activity, expanded by 9.8 percent in June, year-on-year, as the country’s economy recovers, official data showed. Total power use came in at 703.3 billion kWh last month, the National Energy Administration (NEA) said. In June, power consumption by the primary and secondary industries rose by 16.3 percent and 8.5 percent from a year ago, respectively, while that used by the tertiary industry jumped by 17.5 percent year-on-year. The secondary industry was the major driver of the growth in total power consumption during ...

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Baltic index posts first weekly fall in six on weak demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, slid on Friday and snapped five straight weekly gains on weakening vessel demand. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 34 points, or 1.1%, to 3,039. The index retreated 7.9% this week, its biggest fall since the week ended May 28. The capesize index fell 18 points, or 0.5%, to 3,442, the lowest since July 6. The index posted a 7.8% weekly decline. Average daily earnings ...

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Bad weather hits Rio Tinto’s qtrly iron ore exports ahead of results bonanza

Rio Tinto reported a 12% fall in quarterly iron ore shipments on Friday after storms affected its West Australian operations, but is expected to report bumper results this month on soaring prices for the steel raw material. Rio said it now expects to ship near the lower end of its range of 325 million tonnes (mt) and 340 mt in calendar 2021, meaning it may hand back its crown as the world’s biggest producer to Brazilian rival Vale S.A.. Vale, which reports output later this month, is on track to ...

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Baltic Dry Index falls to 3039 down 34 points

Today, Friday , July 16 2021 , the Baltic Dry Index decreased by 34 points, reaching 3039 points.

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Optimism Takes Center Stage in the Dry Bulk Market

In its latest weekly report, shipbroker Allied Shipbroking said that “undoubtedly, we are amidst one of the best rallies seen for many years now in the dry bulk sector, with many market participants already anticipating a similar trend to take place during the 2nd half of the year. Both market sentiment and various momentum metrics support the idea of a “strong” trajectory in shipping market. However, under the current tail-risk regime, all this cannot be taken for granted. According to Allied’s Research Analyst, Mr. Thomas Chasapis, “the recent spikes of ...

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Baltic index hits a month’s low on weaker demand

The Baltic Exchange’s main sea freight index fell to its lowest level in a month on Thursday as lower demand weighed, with the panamax index declining for a ninth consecutive session. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels that carry dry bulk commodities, dropped 66 points, or 2.1%, to 3,073, the lowest since June 15. The panamax index dropped 140 points, or 3.6%, to 3,708, the weakest level in nearly three weeks. The index posted its biggest one-day percentage fall since April 12. ...

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Parched Argentine river cuts into grains exports, environmental worries mount

Ships leaving the Argentine agricultural ports hub of Rosario on the Parana River are having to reduce cargos by thousands of tonnes due to low water levels, the local head of logistics said on Wednesday, amid growing environmental concerns. Dryness in Brazil, where the Parana originates, has diminished cargo traffic and sparked worries by environmentalists about dredging the river below certain depths. The dryness has reduced the amount of cargo that can be carried by ships at the height of the Argentine corn and soy export season. “Handymax ships are ...

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