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Dry Bulk Market

US soybean producer to triple exports to PH

SB&B Foods Inc., a large-scale family-owned agriculture company in North Dakota, is looking to triple its soybean exports to the Philippines over the next five years on growing demand for soy-based products in the Southeast Asian nation. Robert Sinner, President of SB&B, said his company is capable of supplying more soybeans to the Philippines moving forward despite the challenges faced by United States’ farm sector in terms of prices and production of the commodity. “We export a thousand metric tons a year to the Philippines,” Sinner told participants of the ...

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Baltic index falls on weaker rates across vessels

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended its losses for the ninth consecutive session on Tuesday due to lower demand across vessel segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 28 points, or 1.2%, to 2,283 points. The capesize index dropped 82 points, or 1.8%, to 4,456 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined $618 to $33,383. The panamax index fell 12 ...

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Baltic Dry Index falls to 2283, down 28 points

Today, Tuesday, September 17 2019, the Baltic Dry Index decreased by 28 points, reaching 2283 points.

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China’s coastal bulk freight index climbs in August

China’s coastal bulk freight market saw an overall increase in demand in August, according to the Shanghai Shipping Exchange (SSE). The composite index for coastal bulk freight went up by 6.5 percent month on month to 1,040.96 in August, the SSE said. The index had averaged 1,024.04 since the beginning of 2019, up from an average of 1,149.05 for 2018. Last month, the sub-index for grain saw the largest jump of 9.2 percent to stand at 846.48, followed by oil products and coal, up 8.7 percent and 7.9 percent, respectively. ...

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South African coal exports seen waning as renewables gather pace

South Africa’s thermal-coal exports are expected to drop as its main export hub faces growing competition and new cheaper energies proliferate, according to a US research group. “New energy technology is replacing coal-fired power faster than most predicted,” the Institute for Energy Economics and Financial Analysis (IEEFA) said on Monday as it released its export outlook. With fewer countries using the fuel, South Africa – which has the continent’s biggest coal-export hub – will increasingly vie for customers with other exporters around the world. “The global seaborne coal trade is ...

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Dry Bulk Market’s Momentum Triggers More Investment

The rebound of the dry bulk market over the course of the past few months, has triggered a flurry of investment in second hand tonnage. In its latest weekly report, shipbroker Intermodal noted that “we are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the belief that we will witness better rates in the industry. Within a short period of two to three months, this momentum of healthy rates has intrigued many ship-owners to ...

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Baltic index falls for eighth straight session on lower capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, stretched its losing streak to an eighth straight session on Monday, hurt by lower rates for capesize vessels. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 1 point to 2,311 points. The index has fallen for eight straight sessions. The capesize index dropped 9 points, or 0.2%, to 4,538 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $5 ...

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Strong freight rates bode well for bulkers’ earnings

South Korean bulk carriers are likely to see improved earnings in the third quarter of the year on the back of strong freight rates, analysts here said Saturday. The Baltic Dry Index (BDI), a measure of freight for commodities, last week topped 2,500 points, the highest since 2010, according to data from the London-based Baltic Exchange. Although the index fell to the 2,400 range this week, it’s still more than double that in January and nearly 70 percent higher than a year ago. A rising BDI indicates increased shipping demand, ...

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GOGL – Increased investment in dry bulk freight operator

Golden Ocean Group Limited yesterday announced that it has agreed to make a further investment in Singapore Marine Pte Ltd. (“Singapore Marine”) in connection with the acquisition of the majority of assets and operations of Swiss Marine (“Swiss Marine”) by Singapore Marine. Swiss Marine is a privately owned freight operator founded in 2001 that transported over 120 million metric tons of cargo in 2018. Including new commitments from Golden Ocean of $9.5 million in equity and $0.7 million in the form of a shareholder loan, Singapore Marine has raised a ...

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Baltic Dry Index falls to 2311, down 1 point

Today, Monday, September 16 2019, the Baltic Dry Index decreased by 1 point, reaching 2311 points.

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Dry Bulk Market: Capesizes on Correction Mode

Capesize Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of timecharter appeared, with most activity seemingly centred on voyage basis. However, a 176,000dwt vessel was rumoured fixed delivery China, mid-September, for a west Australian round at $30,000. The highlight of the week was on the C5 route, which initially lost ground, before bouncing back to around the $11.00 mark as the week closed, with talk of BHP fixing this level. For the C3 route, limited fresh information surfaced. However, the ...

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China Backs U.S. Farm Purchases as Trade Talks Atmosphere Warms

China said it is encouraging companies to buy U.S. farm products including soybeans and pork, and will exclude those commodities from additional tariffs, in the latest move to ease tensions before the two sides resume trade talks. The Commerce Ministry’s announcement on Friday follows a move earlier this week to exempt a range of American goods from 25% extra tariffs put in place last year, as the government seeks to lessen the impact from the trade war. China didn’t specify the amount of purchases of pork and soybeans, which are ...

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Baltic index down on muted capesize demand; falls 6% this week

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, declined on Friday for a seventh consecutive session as losses in the capesize vessel segment continued. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 19 points, or 0.8%, to 2,312 points. The index has fallen 6.1% this week, its first weekly loss in five weeks. The capesize index dropped 65 points, or 1.4%, to 4,547 points, marking its seventh straight session of losses. The capesize index fell 8.1% this ...

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Iron Ore Glory Days Seen Numbered as China Demand Rolls Over

Iron ore faces a long, slow slide over the coming half-decade. Prices are poised to decline over the long term as the impact of weakening demand in biggest buyer China will more than offset gains in consumption seen in other emerging markets including India, according to Citigroup Inc. “Steel demand is no longer going to be what it was,” Ed Morse, global head of commodity research, said in an interview. “No combination of India, Brazil and any other emerging-market country, no matter how big, is going to replace what China ...

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Baltic Dry Index falls to 2312, down 19 points

Today, Friday, September 13 2019, the Baltic Dry Index decreased by 19 points, reaching 2312 points.

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