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Dry Bulk Market

Baltic Dry Index climbs to 1928, up 63 points

Today, Monday, July 15 2019, the Baltic Dry Index climbed by 63 points, reaching 1928 points.

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China June soybean imports fall on trade war, deadly pig disease

China’s soybean imports fell 11.5% in June from May, customs data showed on Friday, as the Sino-U.S. trade war and an outbreak of deadly African swine fever curb demand. China brought in 6.51 million tonnes of soybeans in June, down from 7.36 million tonnes in May, according to data from the General Administration of Customs. It brought in 8.7 million tonnes in June last year. While Chinese buyers last year scooped up Brazilian supplies in anticipation of hefty tariffs on U.S. cargoes, importers this year were better prepared with stocks. ...

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Dry Bulk Market: Bunkers Lifting Capesize Rates

Capesize It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in European hours, ballaster tonnage was being secured for an ever-tightening window at the end of July. The C3 opened the week at $22.195 to close at $23.864. The lift in voyage rates across the indices on Friday was thought to have been substantially affected by the bunker market, which has been highly volatile this week, particularly in Asia, pushing vessel operating costs up. Trading activity on the ...

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China’s June coal imports fall as local miners boost output

China’s June coal imports fell 1.4% from May to 27.1 million tonnes, official data showed on Friday, as local miners boosted output to ensure adequate supply ahead of summer. For the first-half of the year, China brought in a total of 154.49 million tonnes of the fuel, up 5.8% from same period in 2018, according to data from the General Administration of Customs. Beijing has asked coal miners, especially the big ones in the western regions of Shanxi, Shaanxi and Inner Mongolia, to step up production of high-quality coal to ...

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India: Iron ore shipments rise 15% YoY after similar decline last fiscal

Iron ore cargo bounced back at major ports, rising 15.33 per cent year-on-year during April-June of this fiscal. Iron ore traffic has staged a comeback after a year of deceleration in 2018-19 which saw a decline in shipments by 16 per cent. As a fall-out of de-growth in iron ore cargo in last fiscal, many major ports dependent on the commodity, had to contend with muted growth in cargo throughput. At the end of June in FY20, all major ports with the exception of Mormugao port saw their iron ore ...

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China iron ore imports in June fall to lowest since Feb 2016

China’s iron ore imports in June fell from a year ago, touching their lowest since February 2016, customs data showed on Friday, as supply declined from top miners in Brazil and Australia. Arrivals of the steelmaking raw material were 75.18 million tonnes last month, below both the 83.24 million tonnes imported in June 2018 and May’s 83.75 million tonnes, according to data from the General Administration of Customs on Friday. For the first-half of the year, the world’s biggest iron ore consumer brought in 499.09 million tonnes of ore, down ...

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How IMO 2020 affects transport of ore, coal, grain and other dry bulk

Much of the focus on the IMO 2020 regulation – which limits the sulfur content of fuel used on ships and their emissions to 0.5 percent starting January 1, 2020 – has been on consequences for tanker and container-ship profitability. But the fallout is much more pervasive than that. Dry bulk shipping will see major effects as well, asserted top executives of Safe Bulkers (NYSE: SB), Star Bulk (NASDAQ: SBLK) and Scorpio Bulkers (NYSE: SALT) during a Capital Link webinar on July 9. According to Scorpio Bulkers president Robert Bugbee, ...

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Baltic index hits highest since 2014 on tight supply, higher demand

The Baltic Exchange’s main sea freight index hit a five-and-a-half-year high on Friday, boosted by stronger demand and tight spot tonnage in the Atlantic region. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.7%, or 49 points, to 1,865, its highest since January 2014. The index has tripled since February. * The index rose 7.2% this week, to post its fourth straight week of gains, mainly driven by strong demand for vessels that ship iron ore from Brazil. * The capesize index rose 125 ...

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Panamax consultation update

Following extensive consultation with Members and market participants on how to derive the 74K-4TC from the 82K-5TC, the Baltic Index Council met on 27 June 2019 to consider the issues, the feedback from the consultation process and the Baltic’s proposals. The Baltic Index Council has unanimously decided that: Transition from 74K-4TC to 82K-5TC: • That a fixed value be used to derive the 74K-4TC from the 82K-5TC. The value will be based on the average differential between the two indices 1 January 2018 to 31 December 2019 • The derived ...

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Coal exports reach record highs in Qld

Coal exports from Queensland set a new record in June this year, with 21.43-million tonnes of metallurgical and thermal coal exported during the month, the Queensland Resources Council (QRC) revealed. QRC CEO Ian Macfarlane said the 11% increase on the same month last year highlighted the increasing demand from world markets for Queensland’s coal. “Queensland’s coal is the commodity of choice with our high quality thermal coal needed to power high efficient, low emissions coal-fired power plants in Asia, and our metallurgical coal, used to make steel, is building the ...

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Baltic Dry Index climbs to 1865, up 49 points

Today, Friday, July 12 2019, the Baltic Dry Index climbed by 49 points, reaching 1865 points.

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Brazil-China freight surges 6% as ore fixtures tighten dry bulk

The cost of shipping soybeans and corn from South America to Asia is expected to rise sharply for July and August shipments after a surge in iron ore exports forced freight rates higher on the busy South America to Asia route. The cost of panamax-sized vessels booked from Brazil and Argentina to Asia rose 6%, according to market sources, after several vessels were booked by iron-ore exporters. Freight rates out of Brazil on a spot basis were heard at $37/mt on Wednesday, up 5.7% from nearly $35/mt yesterday. “It was ...

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Dry Bulk Market: Is the Recent Rally a Seasonal Effect or Is the Rebound Sustainable?

The story of the past few days is the recent rebound of the dry bulk market, which has now reached a 5.5 year-high. In its latest weekly report, shipbroker Allied Shipbroking said that “feeding off the formidable jump in dry bulk freight rates that has been noted since mid-June, we have seen a fair amount of optimism emerging in the market once again. As impressive as this may seem however, to what extent are we looking at a shift in market fundamentals taking place and to what extent is it ...

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Baltic index rises to 5-1/2 year high as vessel demand surges

The Baltic Exchange’s main sea freight index rose to its highest in more than five and a half years on Thursday, driven by higher rates due to a shortage of capesize and panamax vessels amid rising demand in the Atlantic region. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.2%, or 39 points, to 1,816, its highest since January 2014. The index has tripled since February. The index rose 28% last week to post its best week in nearly five years, mainly driven by strong ...

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Bulker bosses explain freight price resurgence

The good news is that the Baltic Dry Index (BDI), which tracks bulker charter rates, recently hit its highest point since late July 2018, and the stocks of several publicly listed bulker owners are up 30 to 50 percent since June 1. The not-so-good news is that the July 2018 BDI level was well below the peaks seen in 2014 and 2011, and dry bulk stocks are up off an extremely low base and are still trading under the companies’ net asset value (market-adjusted assets minus liabilities). Regardless of these ...

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