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Baltic Dry Index falls to 3073 down 66 points

Today, Thursday , July 15 2021 , the Baltic Dry Index decreased by 66 points, reaching 3073 points.

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China’s June soybean imports surge on pig herd recovery

China’s soybean imports in June rose on strong domestic demand as the country’s pig herd recovers from African swine fever, market sources told S&P Global Platts July 13. According to a customs department report released June 13, China imported 10.7 million mt of beans in June, up 11.6% month on month, but down 3.9% from record imports last June. The world’s largest soybean importer bought 48.96 million mt of beans in the first half of 2021, up 8.7% on the year, the customs report showed. While US-origin beans dominated China’s ...

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Baltic index posts worst day in seven weeks as rates decline

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, posted its biggest one-day loss in nearly seven weeks on Wednesday, dragged lower by falling rates for all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 89 points, or 2.8%- the most since May 28, -to 3,139, the lowest level since June 22. The capesize index fell 138 points, or 3.8%, to 3,512, the lowest in a week. Average daily earnings for capesizes, which typically ...

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China’s June coal imports soar to highest so far in 2021

China’s coal imports in June rose 35% from a month earlier to their highest level in 2021, driven by robust demand from power generation and industrial activity in the country. China brought in 28.39 million tonnes of the fossil fuel last month, up from 21.04 million tonnes in May, and 12.3% higher compared to June of 2020. For the first six months this year, China imported a total of 139.56 million tonnes of coal, down 19.7% year-on-year, data from the General Administration of Customs showed on Tuesday. Several regions in ...

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China’s June soybean imports jump 11.6% from May on surging demand

China’s soybean imports in June rose 11.6% from May, customs data showed on Tuesday, continuing the trend of resurgent demand in the world’s top buyer as it strives to meet meal demand for its burgeoning hog herds. China took in 10.72 million tonnes of soybeans in June, up from 9.61 million tonnes in May, and the third-highest monthly amount on record, data from the General Administration of Customs showed. While down 3.9% from a record 11.16 million tonnes a year earlier, the imports underline a surge this year in China’s ...

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BRAZIL CORN WATCH: Exports for 2020-21 likely to fall sharply on latest output cut

Brazil’s corn exports are likely to fall sharply in the 2020-21 marketing year, which begins March 2021 and ends in February 2022, due to further cut in production estimates. Brazil, the second-largest corn exporter in the world, suffered significant yield losses this season due to severe drought during most of the growing phase and was further affected by frost that hit corn crops in the southern part of the country towards the end of June. Brazil’s 2020-21 corn production forecast was cut to 93.38 million mt from 96.39 million mt ...

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Baltic Dry Index falls to 3139 down 89 points

Today, Wednesday, July 14 2021 , the Baltic Dry Index decreased by 89 points, reaching 3139 points.

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Baltic index dips on lower rates across vessel segments

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday pressured by declines across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shrunk 72 points, or 2.2%, to 3,228. The capesize index led declines, falling 120 points or 3.2% to 3,650, snapping a four-day winning streak. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, fell by $994 to $30,272. Iron ore futures in Asia rose on Tuesday, ...

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Bearish or bullish? China’s variegated June commodity imports

China’s imports of major commodities in June presented a mixed picture of weakness and strength, underscoring the difficulty of ascertaining an overall trend in the world’s biggest buyer of natural resources. On the soft side of the ledger were crude oil, iron ore and copper, while recording solid gains were coal and natural gas, both pipeline and liquefied natural gas (LNG). A further complicating factor is working out how much of a slowdown in imports of oil, iron ore and copper is due to supply constraints, or whether there is ...

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China’s iron ore imports hit 13-month low, more weakness seen

China’s iron ore imports fell to their lowest in 13 months in June as shipments declined, and analysts expect demand could continue to ease in the second half. The world’s top iron ore consumer imported 89.42 million tonnes of the material last month, down 0.4% from May, data from the General Administration of Customs showed on Tuesday. Iron ore imports in June were down 12.1% from a year earlier. In the first half of 2021, China took 560.7 million tonnes of the ingredient, though, 2.6% higher than the same period ...

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Baltic Dry Index falls to 3228 down 72 points

Today, Tuesday, July 13 2021 , the Baltic Dry Index decreased by 72 points, reaching 3228 points.

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Flat H1 iron ore exports suggest ongoing tight supply: Platts Analytics

Iron ore exports from major producers in the first half of 2021 were largely flat on the same period a year ago. Operational issues at Rio Tinto and Vale mean the miners will need to lift export run rates to meet full-year targets, while BHP achieved its financial year target and Fortescue Metals Group’s export performance was weaker than expected. The lack of overall iron ore export growth and struggles on the part of some miners to achieve guidance indicate tight supply conditions will prevail this year, helping support current ...

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Robust commodity demand to spur dry bulk rally into Q3

The surging demand for infrastructure-related commodities such as iron ore and coal, along with minor bulks such as aggregates, clinker, limestone is likely to help fuel the dry bulk market rally into the third quarter, with freight levels and time charter earnings setting new records. The dry bulk market has been on a firm footing since the beginning of 2021 and market participants expect the trend to continue in the upcoming quarter. “I expect the peak [for 2021] has not come yet as the [seasonally firmest quarter] is yet to ...

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Baltic index flat, capesizes hit near 2-week high

The Baltic Exchange’s main sea freight index was steady on Monday as lower rates for the panamax vessel segment offset gains in the capesize index, which touched a near two-week high. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels that carry dry bulk commodities, was unchanged at 3,300. The capesize index was up 35 points, or 0.9%, at 3,770, gaining for a fourth straight session to its highest since June 30. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and ...

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Australia increasingly reliant on China’s demand for iron ore

Escalating political tensions between Canberra and Beijing have done little to dampen the value of exports, with China accounting for more than 40 per cent of goods shipped in May, on the back of record demand for iron ore. The latest economic chart pack from the Reserve Bank shows a striking lack of diversity in Australia’s trade ties and highlights an increasing dependence on iron ore sales to China. China made up about 10 per cent of goods and services exports in 2005, well behind Japan, before spiking to 25 ...

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