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Dry Bulk Market

Boost in Chinese coal raises hopes of end to Australian import curbs

China’s decision to boost its domestic thermal coal mining industry has raised hopes the country’s unofficial restrictions on Australian imports may soon end. Australian thermal coal has faced lengthy customs delays at Chinese ports and debate has raged on whether the restrictions were driven by political or economic motivations. When restrictions were first reported, some experts suggested China was punishing Australia for its ban on telecommunications company Huawei. However, coal miners said restrictions were frequently put in place to allow Chinese domestic operators “time to shine” and build them up ...

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Scorpio Bulkers Inc. Announces First Quarter Net Loss of $3.5 Million

Scorpio Bulkers Inc. reported its results for the three months ended March 31, 2019. The Company also announced that on April 26, 2019, its Board of Directors declared a quarterly cash dividend of $0.02 per share on the Company’s common shares. Results for the Three Months Ended March 31, 2019 and 2018 For the first quarter of 2019, the Company’s GAAP net loss was $3.5 million, or $0.05 loss per diluted share, including: an approximately $15.0 million non-cash gain and cash dividend income of $0.5 million, or $0.23 earnings per ...

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China’s `Friendly’ Neighbors Seize Coal Share From Australia

China’s move to stifle coal imports from Australia is hurting its No. 2 supplier, with shipment figures showing the exporter conceding share in the world’s largest market. Cargoes from Australia accounted for 18 percent of China’s overseas purchases in March, near the lowest since 2012, according to customs data and Bloomberg calculations. Meanwhile, Russia and Mongolia steadily built their share in the past few months as customs delay hobbled their rival. Top shipper Indonesia maintained its stake at about 50 percent. “Importers tend to favor supplies from countries that have ...

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China’s Australian coking coal imports double in March from February

China’s imports of Australian coking coal nearly doubled in March from a month earlier, customs data showed, as a flurry of shipments were accepted after being delayed at customs clearance for more than a month. Arrivals of Australian coking coal were at 2.23 million tonnes last month, up 92 percent from 1.16 million tonnes in February, according to data released by the General Administration of Customs on Thursday. That compares to 1.33 million tonnes in March 2018. Traders reported extended inspections of Australian supplies, including a ban on Australian coal ...

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Transnet installing new iron tippler to sustain iron ore exports

South Africa’s Transnet freight group is installing a new iron ore tippler at the country’s main iron ore export line in order to sustain its current output of 60 million tonnes a year, officials said at its Saldanha port terminal. The 3 billion rand ($208 million) project, which includes infrastructure such as a conveyor belt leading to the port, railway tracks and three bridges, is expected to start operations by July next year. The new tippler, a massive machine which physically tilts train wagons up to 160 degrees to disgorge ...

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Baltic Dry Index climbs to 913, up 24 points

Today, Monday, April 29 2019, the Baltic Dry Index climbed by 24 points, reaching 913 points.

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Baltic Dry Index climbs to 889, up 20 points

Today, Friday, April 26 2019, the Baltic Dry Index climbed by 20 points, reaching 889 points.

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A Trade Agreement Between China and US Could Boost Dry Bulk Market

Things could start to improve in the dry bulk market in the months to come, should a trade agreement between the US and China materialize over the next few weeks. In its latest weekly report, shipbroker Allied Shipbroking said that “the dry bulk market continues to face a significant amount of hammering, despite the slight positive track that has been laid down during the past few weeks. It has become ever more apparent that beyond the issues being faced in the iron ore trade as part of the disruptions brought ...

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China’s imports of U.S. soybeans rise in March from a month earlier

China’s imports of soybeans from the United States, the second-largest supplier to the country in 2018, rose in March from the previous month as more cargoes booked during a truce in the trade dispute between the two countries arrived. China, the world’s biggest soybean buyer, imported 1.51 million tonnes of soybeans from the United States in March, data from the General Administration of Customs released on Thursday showed, up from February’s shipments of 907,7545 tonnes. But the arrivals were still only half of last year’s volumes, with Beijing’s hefty tariffs ...

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Baltic Dry Index climbs to 869, up 19 points

Today, Thursday, April 25 2019, the Baltic Dry Index climbed by 19 points, reaching 869 points.

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INTERCARGO: 48 Bulkers and 188 Lives Lost During 2009-2018 Period

INTERCARGO’s Bulk Carrier Casualty Report 2018 provides an analysis of reported bulk carrier losses during the period from 2009 to 2018, when 188 lives were lost and 48 bulk carriers over 10,000 dwt were identified as total losses. Although there has been no reported loss of a bulk carrier in 2018 and the ten-year trends in annual average numbers of lives and dry cargo ships lost show positive signs of safety improvement, there is no room for complacency. Cargo failure and liquefaction continue to be a major concern for dry ...

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China Will Continue Slowdown in Australia Coal Until After Elections

China will maintain a slowdown in coal imports from Australia until Beijing has assessed government policy in Canberra after federal elections in May, according to people with knowledge of the plan. Chinese Customs in January told local officials to start controlling imports of Australian coal, without giving explicit instructions as to how or why. That’s resulted in delays to clearance at some ports and additional testing at others, prompting concern that Beijing is retaliating against Australia’s ban on Chinese telecommunications giant Huawei Technologies Co. China will decide whether to maintain ...

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Baltic Dry Index climbs to 850, up 29 points

Today, Wednesday, April 24 2019, the Baltic Dry Index climbed by 29 points, reaching 850 points.

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Capesizes and Containers Heading for Recycling

More and more Capesize dry bulkers, but also container ships are being sold for scrap, with ship owners looking to help alleviate each market’s fundamentals. In its latest weekly report, Clarkson Platou Hellas said that “with the upcoming Easter holidays commencing from this weekend, most Brokers and Owners seem to have already lined up their time off as the limited number of vessels being circulated was quite evident providing a quiet feeling in the market. It can only be likened to an Easter egg hunt where everyone is trying to ...

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Trump-China Trade Deal Seen Boosting Grain Container Shipments

A deal ending the trade spat between the U.S. and China would boost container shipments of grain, wheat and soybeans, according to the head of Japan’s largest container-shipping company. While agricultural goods are typically transported in large volumes by bulk ships, there’s a rising trend toward using containers as they can move smaller quantities more efficiently and without the need for storage facilities, said Jeremy Nixon, chief executive officer of Ocean Network Express Pte. “If there is a breakthrough in the tariff situation, there’s actually pent-up demand for U.S. exports ...

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