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Dry Bulk Market

Dry Bulk Market: Rollercoaster Ride Continues

Capesize The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week’s end. The BCI 5TC reduced from $11,182 at the end of the previous week to a low of $9,898 on Tuesday, but rebounded to $11,621 by Friday. Reasonable cargo volumes were reported out of West Australia to China with rates for C5 lingering around $6.50-$6.75, whilst time charter rates in the Pacific lifted from low to mid-teens level by Friday. In the Atlantic Basin sentiment was given a ...

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Chinese steel mills regain taste for high-grade iron ore

Chinese steelmakers are regaining their appetite for high-grade iron ore despite record-high ore prices, mill managers and traders say, as recovering profit margins spur plants to seek efficiency gains and ramp up output. Steel firms had been forced to slash input costs through switching to low-quality ore in late 2018 as steel margins dived amid record output. A sharp surge in iron ore prices in early 2019 – sparked by a catastrophic tailings dam failure at a Vale SA mine in Brazil – also fueled that switch. But as China’s ...

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Iron ore demand will be Critical for a Dry Bulk Market Recovery

While demolition activity in the dry bulk segment has been up by 185% this year, compared to 2018, a potential dry bulk market recovery ultimately hinges on the improvement from the demand side of things. In its latest weekly report, shipbroker Intermodal said that “over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1,000 point mark last week for the first time since January, and creating a positive sentiment for the upcoming weeks after Easter holidays”. According to Mr. George Panagopoulos, Research ...

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Pioneer Marine Inc. “Beat” Average Dry Bulk Charter Rates

Pioneer Marine Inc. and its subsidiaries leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the quarter ended March 31, 2019. Torben Janholt, Chief Executive Officer commented: “First quarter results were satisfactory considering the otherwise testing period for the dry bulk market. The markets were weaker than expected due to many factors such as the US-China trade conflict, infrastructure disruptions in Brazil and heavy weather conditions in Australia. Financial Highlights at a glance: First quarter First Quarter 2019 2018 Net income $1.5 million ...

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India’s Coal imports to surge to a record in 2019, shipments will climb 11%: Adani

India’s thermal coal purchases are expected to surge to a record this year and remain robust through the next decade as domestic supply lags demand, according to the country’s largest importer. Overseas shipments will climb almost 11% to 184 million metric tons during the financial year started April 1, and rise further to average about 200 million annually through the following decade, according Vinay Prakash, chief executive officer for coal and mining at Adani Enterprises Ltd. Generators designed to run on imported coal will keep fueling demand, while consumers close ...

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India may export 10-11 mt ore pallets to China this year: Traders

India is expected to export 10-11 million tonnes of iron ore pallets to China this year against 9.5 million mt last year on good demand notwithstanding trade tensions with the key export market of the US, traders said on May 9. The price of high grade pallet of 64fe content with 3 percent aluminium content has also improved to $122-125 per tonne, up from $114-116 in February 2019, a trader said the Singapore Iron Ore Forum. High grade pallets are in good demand but mining issues and export restrictions have ...

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Baltic Dry Index climbs to 1013, up 39 points

Today, Friday, May 10 2019, the Baltic Dry Index climbed by 39 points, reaching 1013 points.

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Australia iron ore exports rebound in April, but not…

Australia’s iron ore exports rebounded in April after being hit by a cyclone the prior month, but the surge in shipments wasn’t enough to offset declining volumes from Brazil in the wake of January’s tailings dam disaster. Australian exports were about 69.1 million tonnes in April, according to preliminary figures compiled by Refinitiv, based on vessel-tracking and port data. This was up 20 percent from 57.5 million tonnes in March, when shipments were disrupted by Tropical Cyclone Veronica, which closed ports and impeded mining operations in Western Australia state. Brazil’s ...

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Dry Bulk Market: Uncertainty The Biggest Concern Hindering a Rebound

The demise of the dry bulk market has been more than evident over the course of the past few months, with a series of events worsening the market’s fundamentals. As such, a sustainable recovery will take some time. In its latest weekly report, shipbroker Allied Shipbroking said that it has been “undoubtedly a very troubled year for the dry bulk market. At the end of 2018, we were noting strong levels of optimism and bullish sentiment for the year that lay ahead, especially when given the overall recovery that had ...

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Clarksons: Dry Bulk Market Set to Improve By the end of 2019

At the Annual General Meeting to be held in London today, Bill Thomas, Chairman of Clarksons, made the following trading statement covering the period from 1 January 2019 to 8 May 2019. The trends outlined in the outlook statement within our 2018 full year results on 11 March have continued, with the performance of the business illustrating the strength from, and importance of, our multi-divisional diversified offering. Our broking business continues to benefit from our best in class position in all markets, from the transaction flow the Company sees and ...

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Baltic Dry Index climbs to 974, up 34 points

Today, Thursday, May 09 2019, the Baltic Dry Index climbed by 34 points, reaching 974 points.

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China iron ore imports fall to 18-month low in April as Brazil shipments slide

China’s iron ore imports in April fell to the lowest level in 18 months as poor weather in Brazil, the country’s second-biggest supplier, disrupted shipments and some production by miner Vale SA was halted after a mine accident. Arrivals of iron ore, a key steelmaking raw material, were 80.77 million tonnes last month, the lowest since October 2017, data from the General Administration of Customs showed on Wednesday. That compares to 86.42 million tonnes in March and 82.92 million tonnes in April 2018. For the first four months of 2019, ...

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China coal imports rise 13.5% in April

Chinese coal and lignite imports rose by 13.5% year on year to 843,000t/day (25.3m tonnes) in April, as restocking demand offset customs delays on Australian supplies, according to official data on Wednesday. Imports last month were 11% higher than in March and the highest in three months. “Despite concerns of constraints and quotas, coal imports held up relatively well amid restocking ahead of summer demand,” said Australia’s ANZ Bank in a note. Unofficial government restrictions have affected Australian imports in recent months, yet China still saw its share of Newcastle ...

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Port Hedland iron ore shipments bounce in April after cyclone

Pilbara Ports Authority has delivered a total monthly throughput of 58.8 million tonnes (Mt) for the month of April 2019. This throughput was a 1% decrease compared to the same month in 2018. The total throughput for the 2018/19 financial year to date is 569.3Mt, a decrease of 1% from the same time last year. The Port of Port Hedland achieved a monthly throughput of 42.5Mt, of which 41.8Mt was iron ore exports. The monthly throughput was a 3% decrease from April 2018. Imports through the Port of Port Hedland ...

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Baltic Dry Index climbs to 940, up 4 points

Today, Wednesday, May 08 2019, the Baltic Dry Index climbed by 4 points, reaching 940 points.

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