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Dry Bulk Market

Dry Bulkers Made In Japan in High Demand

Dry bulkers built in Japan, i.e. of a proven quality have been in high demand in the second hand market lately. In its latest weekly report, shipbroker Banchero Costa said that in the S&P market, “good quality Japanese Panamax Bulkers still have takers. It was reported that two Panamaxes Japanese built respectively “Medi Vittoria” 76,616 dwt 2004 built built Imabari and “Paquis” 74,000 dwt 2005 built Namura were sold for $ 7.8 mln to Grand Ocean Shipping and $ 8.5 mln to undisclosed. Last Japanese Panamax Bulker reported sold during ...

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China stepped up imports of Australian steelmaking coal in March -Aus data

China stepped up purchases of Australian steelmaking coal in March after customs delays earlier this year, Australian government data showed on Tuesday, but exports of thermal coal to the world’s biggest consumer continued to fall. Chinese traders had cut back on purchases of both thermal and metallurgical coal from Australia in February due to lengthy quality checks on supplies from there that lasted as long as two months at some ports. That came months after Australia banned China’s telecoms giant Huawei Technologies from competing in a telecoms tender, raising questions ...

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Baltic Dry Index falls to 936, down 49 points

Today, Tuesday, May 07 2019, the Baltic Dry Index decreased by 49 points, reaching 936 points.

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Dry Bulk Market: The Case for the US Coal Exports to China Trade

While the US-China trade friction of the past few months has, undoubtedly, hurt shipping in more ways than one (dry bulk shipping not excluded), it seems that some good can also be made of it, especially if a sustainable agreement can be reached. This could involve the rise of US exports of commodities to China, from soyabeans to LNG, but most importantly coal. In a recent note, shipbroker Banchero Costa said that “with increasing investment in renewable energy, the United States continues to steadily phase-out its aging coal-fired power plants. ...

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Australia’s coal exports to China from Gladstone surge in April

Australia’s exports of coal to China from the Port of Gladstone jumped in April, and helped lift the port’s total volumes to a three-month high, data from the Gladstone Ports Corp. showed on Monday. The Queensland-based port exported 1.44 million mt of coal to China during the month, the highest monthly total in 10 months. It was more than five times the 261,000 mt seen in April last year, and almost triple the 527,000 mt seen in March. This helped propel Gladstone’s total coal exports to a three-month high of ...

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Dry Bulk Market: Tough Times For Larger Ships

Capesize The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australia to China route opened mid to low $6.00s. Pushing into the holiday on Wednesday, it rose to mid $7.00s, before crashing back down to mid $6.00s by the week’s end. Volatile swings like this are a characteristic of the market but that doesn’t make it any easier to trade. Many owners in the Pacific were seen to sit out the market by Friday, looking to ...

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Panama Canal Drought Puts Bullseye on U.S. Gulf Crop Exports

A drought has hit the Panama Canal, forcing some limits on the size of vessels that can pass through. This could have a sizable impact on U.S. agricultural shipments to Asia. Almost 8 percent of grain vessels leaving U.S. Gulf export elevators could be impacted, according to an analysis of U.S. Department of Agriculture data back to January 2018. There are some restrictions on movements of vessels with a draft larger than 13.1 meters (43 feet) effective May 28, the Panama Canal Authority said in an advisory notice dated May ...

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Navios Maritime Partners : “Strong Results Given the Weak Market Backdrop” says Frangou

Navios Maritime Partners L.P., an international owner and operator of dry cargo vessels, reported its financial results for the first quarter ended March 31, 2019. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the first quarter of 2019 during which Navios Partners reported $46.8 million of Revenue and $22.7 million of Adjusted EBITDA. For the quarter, we declared a quarterly distribution of $0.02 cents per unit, representing a current yield of approximately 8%.” Angeliki Frangou continued, “Our results were particularly ...

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Baltic Dry Index falls to 985, down 47 points

Today, Friday, May 03 2019, the Baltic Dry Index decreased by 47 points, reaching 985 points.

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Poor April for global seaborne coal exporters masks overall resilience

Coal exporters suffered a poor April with seaborne volumes dropping from the previous month amid slack demand, but the overall picture for the industry so far this year isn’t quite as gloomy as it may appear. April is not traditionally a strong month for coal demand as it falls between the winter and summer power demand peaks – declining seaborne volumes are to be expected. It’s also worth noting that the world’s top coal exporters have managed to boost shipments on a year-on-year basis, not just in April but also ...

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Baltic Dry Index climbs to 1032, up 1 point

Today, Thursday, May 02 2019, the Baltic Dry Index climbed by 1 point, reaching 1032 points.

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Dry Bulk FFA: Capesize Paper Market on the Mend

Capesize Commentary Cape paper slipped in early trading which saw June trade down to 13600 & Q4 trade down to 18100. Rates did however rebound post index despite the overall lack of activity and a reduced number of market participants out due to national holidays.The physical appears to be finally catching up with the FFAs but it remains to be seen if this will continue to be the case as the week progreses. Panamax Commentary A very quiet day on the pmx side with limited interest due to the numerous ...

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Rising Deliveries Of Capesize Ships Pose A Threat To The Already Fragile Market Balance

Demolition of dry bulk ships in the first four months of 2019 was 120% higher than in the same period of 2018. Much of this increase comes from demolitions of Capesize ships, up from 1.1 m DWT between January and April 2018 to reach 3.4m DWT in the first four months of 2019. The 18 Capesize ships demolished this year, sailed away from the poor market conditions faced by these larger vessel sizes since 25 January 2019. In the almost three months since then, Capesize earnings have remained below USD ...

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Australia iron ore exports rebound in April, but not enough

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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Baltic Dry Index climbs to 1031, up 20 points

Today, Wednesday, May 01 2019, the Baltic Dry Index climbed by 20 points, reaching 1031 points.

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