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Dry Bulk Market

Baltic Dry Index surge highlights commodity resurgence

Commodity stocks took a hit in the first quarter (Q1), as the strict lockdown in Wuhan led to heightened fears of an impending crash in demand for raw materials. Manufacturing has been hit hard over recent months, highlighting the sharp contraction in global output. Surge pushes Baltic Dry Index to yearly high However, the Baltic Dry Index (BDI) tells a very different story that is emerging, with a recent surge pushing the crucial barometer of global growth into a fresh 2020 high. The BDI provides a gauge of shipping prices ...

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Exporters say China soy buyers want guarantee of coronavirus-free cargoes

China’s soybean buyers are asking exporters to sign a letter guaranteeing their cargoes are not contaminated with the novel coronavirus, U.S., Brazilian and Canadian soy industry officials said. China is trying to prevent any risk of new COVID-19 infections from imported goods as it takes aggressive measures to contain a recent spike in coronavirus infections linked to a sprawling wholesale food market in Beijing. Most international authorities say there is no evidence that the coronavirus can be transmitted from food to people. Two grain export traders told Reuters that their ...

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Baltic index rises on firmer vessel rates

The Baltic Exchange’s main sea freight index gained on Wednesday, on robust demand across all vessel segments. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 88 points, or 5.4%, to 1,705, its highest since Oct. 31. The index has soared more than four-fold after slipping to a low of 393 points in May, after coronavirus-induced lockdowns hammered global trade and vessel demand. The Baltic capesize index gained 213 points, or 5.4%, to 4,189, its highest ...

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Chinese soybean imports not impacted despite requests for virus-free cargoes

Soybean trading activity in China has not been affected by recent requests from the customs department to provide documents guaranteeing all imported cargoes are free of any coronavirus contamination, market sources said June 24. Chinese soybean importers are continuing to import cargoes from the US to cover demand for October and November, the sources added. Chinese customs officials have been asking soybean exporters in the US and Brazil to provide documents guaranteeing their cargoes are free of virus contamination, according to media reports and market participants S&P Global Platts spoke ...

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Baltic Dry Index climbs to 1705, up 88 points

Today, Wednesday, June 24 2020, the Baltic Dry Index climbed by 88 points, reaching 1705 points.

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Does China still need U.S. soybeans after Brazil’s export bonanza?

U.S. soybean sales to China have finally started to resemble the pre-trade war era, but amid massive Brazilian shipments and the record build in Chinese soybean stocks, one cannot help wondering whether China will end up needing as many soybeans as the United States hopes to export later in the year. As of June 11, China had 3.05 million tonnes of U.S. soybeans booked for delivery in 2020-21, which starts on Sept. 1. That is China’s largest new-crop total for the date since 2014. (https://tmsnrt.rs/3fOzeWO) Since June 11, China has ...

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Baltic index hits over 7-month high on increasing vessel activity

The Baltic Exchange’s main sea freight index touched its highest level in more than seven months on Tuesday, as rates across all vessel segments rose on increasing trading activity. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 59 points, or 3.8%, to 1,617, its highest since Nov. 5. The index has soared more than fourfold after slipping to a low of 393 points in May, when coronavirus-induced lockdowns hammered global trade and vessel demand. “The ...

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Brazilian iron ore exports to China push up freight rates

Capesize freight rates rose to their highest yet this year as a resurgence in the Chinese steel industry drove up Brazilian exports of iron ore due for delivery to China next month, Argus Media reports. The compiler of commodities data says rates for freight on Capesize ships bound from the eastern Chinese port of Qingdao from the southeastern Brazilian port of Tubarão rose to US$19.65 per tonne last week, over twice the sum two weeks before. The report says steel output has been gradually growing in China, depleting stocks of ...

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China issues biosafety certificates for GM soybean, corn imports

China’s agriculture ministry on Tuesday issued genetically modified (GM) safety certificates for two new varieties of soybean imports, a sign of further loosening restrictions on GM crops in the world’s biggest grains market. The Ministry of Agriculture and Rural Affairs also renewed safety certificates for six other GM crops for import – for five varieties of corn and another soybean crop – according to a statement published on its website. Source: Reuters (Reporting by Min Zhang, Judy Hua and Se Young Lee; Editing by Tom Hogue)

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Baltic Dry Index climbs to 1617, up 59 points

Today, Tuesday, June 23 2020, the Baltic Dry Index climbed by 59 points, reaching 1617 points.

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Baltic index edges up on higher panamax, supramax rates

The Baltic Exchange’s main sea freight index inched higher on Monday, helped by stronger demand for panamax and supramax vessels. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 3 points to 1,558, its highest since Dec. 6. The index on Friday posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up. The Baltic capesize index fell from a nine-month high by 28 points, ...

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Baltic Dry Index climbs to 1558, up 3 points

Today, Monday, June 22 2020, the Baltic Dry Index climbed by 3 points, reaching 1558 points.

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Vale’s monthly iron ore shipments indicate supply shortfall may persist

The iron ore supply shortage that has helped support high prices in recent months looks set to continue with Vale likely to struggle to meet its iron ore shipments target for 2020. Vale has maintained its iron ore fines production guidance of 310 million-330 million mt in 2020 despite the suspension of activity at its Itabira mining operations in Brazil in early June due to the coronavirus outbreak. Vale was told by state inspectors in Minas Gerais that it can reopen the Itabira complex, the company said on June 17. ...

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Has the dry bulk tide turned?

Dry bulk shipowners have had solid reasons to smile this week and rightfully so. The physical market recorded an impressive rally and fixtures reported seem unable to “beat the index” as it is breaking records day by day. Same rally was followed by the futures market too, although somewhat corrected as we are concluding the week. Capesize cheers The market’s upturn was much anticipated since we are exiting depressing lows and these deep dives of the freight market tend to not last too long. Especially when the hit the dry ...

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Dry Bulk Market: Capesizes On “Fire”

Capesize The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sector had almost doubled to $25,511 by the end of the week as the Atlantic basin surged into life. A barrage of negative fundaments in recent times has weighed heavily on Cape demand and pushed imbalances into the fleet positioning. Strengthening iron ore demand in the Far East has been answered by fronthaul loading location sparking a revival of sorts. The Atlantic Basin, bereft of business weeks back, ...

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