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Dry Bulk Market

Euphoria in dry bulk spot rates

Surging iron ore exports from Brazil and contracting vessel supply in the region will keep Capesize/VLOC vessels in high demand in the Atlantic, supporting the continued surge in freight rates. The Capesize market is witnessing a festive period with spot rates reaching record highs despite growing concerns of a slowdown in the global economy. The recent strength in spot rates is expected to continue over the remaining months of 2019 mainly on account of: a) the upcoming IMO regulations and b) the sharp recovery in Brazil’s iron ore exports. Following ...

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Baltic index falls on sluggish capesize demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, declined on Thursday for a sixth consecutive session due to lower capesize rates. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 35 points, or 1.5%, to 2,331. The capesize index dropped 114 points, or 2.4%, to 4,612. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $749 to $34,434. “With less activity, (capesize) levels have softened down 6% week to ...

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Argentina soybean meal prices seen competitive to China, but issues remain

Soybean meal prices in Argentina are low enough to arrive in China at competitive levels until the end of 2019, S&P Global Platts assessments showed Wednesday. China and Argentina signed a historic deal Wednesday after 20 years of negotiations that allows the latter to sell the animal feed to China. However, market participants said it was not clear if China will play that card yet, as the country continues negotiations with the US on a wider trade deal. Taking into account Platts’ latest price assessment in the Up River region ...

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China iron ore scales 5-week high on restocking demand prospects

Dalian iron ore futures climbed nearly 4% on Thursday to their highest in five weeks, extending gains in anticipation of some restocking demand for the steelmaking raw material ahead of holidays in China. Declining iron ore shipments into China and signs of easing trade frictions between Washington and Beijing added fuel to the rally, outweighing market talks about intensified output restrictions in top steel-producing city of Tangshan. The most-traded iron ore on the Dalian Commodity Exchange , for January 2020 delivery, rose as much as 3.9% to 681 yuan ($96.08) ...

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Baltic Dry Index falls to 2331, down 35 points

Today, Thursday, September 12 2019, the Baltic Dry Index decreased by 35 points, reaching 2331 points.

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Baltic Exchange launches new ship operating expenses assessment

The Baltic Exchange has launched a new assessment to track the cost of operating vessels. Initially covering a range of dry bulk vessels, the service will also be expanded to tankers and other sectors. The Baltic Operating Expense Index (BOI) will be published quarterly and based on assessments from three leading independent third-party ship management companies: Anglo-Eastern, Columbia Shipmanagement and Fleet Management. Collectively they manage a fleet of over 1,800 vessels. Additional companies are expected to join the panel in the future and a residual price calculation added later this ...

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Baltic index slips as capesize rates fall

The Baltic Exchange’s main sea freight index fell on Wednesday for a fifth straight session on lower capesize demand, further weighed down by weaker rates across other segments. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 27 points, or 1.1%, to 2,366. The capesize index dropped 68 points, or 1.4%, to 4,726. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $481 to $35,183. The panamax index fell 17 points, or 0.8%, to 2,144. Average daily ...

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China opens soymeal market to No. 1 exporter Argentina in ‘historic’ deal

China will allow the import of soymeal livestock feed from Argentina for the first time under a deal announced by Buenos Aires on Tuesday, an agreement that will link the world’s top exporter of the feed with the top global consumer. The pact will be signed by Argentine and Chinese officials in Buenos Aires on Wednesday, Argentina’s agriculture ministry said in a statement. Last month Chinese officials inspected Argentine soymeal factories in the run-up to signing the pact. Argentina had tried for years to break into the Chinese market, the ...

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Baltic Dry Index falls to 2366, down 27 points

Today, Wednesday, September 11 2019, the Baltic Dry Index decreased by 27 points, reaching 2366 points.

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Is The Dry Bulk Market Rally Coming to an End?

The tide could be about to shift when it comes to the long-term sustainability of the dry bulk market’s rally, which has been ongoing over the course of the past few months. In its latest weekly report, shipbroker Allied Shipbroking noted that “it has been an impressive couple of months for the dry bulk Capesize market, with the market picking it self-up from the rock bottom of US$ 3,460 per day it reached in early April, to continually showing improvement each month and culminating with a market peak of just ...

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Weaker demand across vessels drags Baltic index

The Baltic Exchange’s main sea freight index fell on Tuesday for a fourth straight session because of lower demand across vessel categories. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 29 points, or 1.2%, to 2,393 points. The capesize index dropped 50 points, or 1%, to 4,794 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $457 to $35,664. The panamax index fell 30 points, or 1.4%, to 2,161 points. Average daily earnings for panamaxes, ...

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Baltic Dry Index falls to 2393, down 29 points

Today, Tuesday, September 10 2019, the Baltic Dry Index decreased by 29 points, reaching 2393 points.

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China August soybean imports jump nearly 10% as cargoes arrive after delay

China’s soybean imports in August jumped 9.7% from the previous month to hit the highest level in nearly one-and-half-years, customs data showed, as some shipments booked earlier cleared customs after a delay. August’s imports of 9.48 million tonnes were up from 8.64 million tonnes in July, and also ahead of 9.15 million tonnes in August last year, according to data from the General Administration of Customs. “Some cargoes from the United States did not get loaded earlier and only cleared customs in August,” said Xie Huilan, analyst with industry portal ...

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Growing Demand for Shipping Bodes Well for Future, As Tonnage Supply is Kept at Moderate Levels

Shipping’s future prospects seem to justify the current optimism, as it’s reflected in the freight rate market over the past couple of months. In its latest weekly report, shipbroker Intermodal said that “for yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market in the second half of this year has buoyed optimism amongst the people in the industry. Yet if you are to ask most shipowners if they are optimistic you will get a “yes…but…” ...

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Baltic index falls for third straight session

The Baltic Exchange’s main sea freight index fell on Monday for the third consecutive day, as lower demand for ships across segments eased rates. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 40 points, or 1.6%, to 2,442 points. The capesize index dropped 105 points, or 2.1%, to 4,844 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $800 to $36,121. The panamax index fell 25 points, or 1.1%, to 2,191 points. Average daily earnings ...

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