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Dry Bulk Market

China’s iron ore port stocks up on easing jam

Total imported iron ore inventories at the 45 Chinese ports grew for the second week by 635,100 tonnes or 0.6% to 113.7 million tonnes by September 3, as higher iron ore discharges from these ports had been offset by the ease of vessel congestion, according to Mysteel’s latest survey report on September 4. Over August 28-September 3, the number of vessels queuing at the 45 sampled ports declined notably by 19 to 169, or a low in four weeks, even though new iron ore shipments had arrived at the Chinese ...

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China emerges as top buyer of US wheat in latest week; exports hit 577,000 mt

A week after returning to the US wheat markets, Chinese buyers continue to seek US wheat, with the latest week’s export sales to China emerging as the second-largest of the current season, indicating buyers remain interested amid the country’s efforts to ramp up its purchases of US agricultural products. In the week to Aug. 27, China booked 250,800 mt of US wheat, the second-largest volume purchased in the current marketing season that started June 1, data from the US Department of Agriculture showed Sept. 3. Sales to China were also ...

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Europe looks to cut dependence on Chinese commodities

The European Union has issued a plan to cut its dependence on Chinese supplies of rare earths, lithium batteries and solar-cell components, as it tries to build a green-energy economy that isn’t largely made in Beijing. Brussels will bring industry, governments and NGOs into a “European Raw Materials Alliance”, which will refashion the continent’s supply chains for up to 30 critical products – including those used to make wind turbines, fuel cells, solar panels, magnets, drones and batteries for electric vehicles. Europe’s anticipated shift to electric vehicles and green energy ...

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Dry Bulk Market Could Be Set for A Sustainable Recovery By Early 2021

The dry bulk market could be set for a more sustainable rebound in the coming months, aided by the stagnation of the global bulker fleet during most of 2020. However, if a second lockdown of the world’s major economies occurs, then obviously, shipping and the dry bulk market could be set for yet more turbulence. In its latest weekly report, shipbroker Allied Shipbroking said that “in 2020, across the spectrum of industrial commodities, we have seen markets have their limits tested numerous times as the pandemic disruptions gradually took hold. ...

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Agricultural trade is shipping’s bright star

Agricultural trade has successfully sidestepped the sharp fall in overall merchandise trade in the first half of 2020, but can it continue to avoid the ripple effect of the Covid-19 pandemic? A note from the World Trade Organisation finds that agricultural trade has fared better than other sectors, with initial measures focused on guaranteeing the immediate availability of food. Those measures brought in processes that both facilitated and restricted agriculture trade with new sanitary and phytosanitary (SPS) measures, tariff reductions, and export restrictions. A second phase of policies sought to ...

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Baltic Index posts worst week since July on declining panamax, capesize rates

The Baltic Exchange’s main sea freight index dropped on Friday and recorded its biggest weekly fall since July 24, as capesize and panamax rates slipped further. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 33 points, or 2.4%, to 1,362 on Friday, dropping 8.5% for the week. The capesize index dropped by 59 points, or 2.9%, to 1,960, slipping 11.6% for the week. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes ...

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Brazil’s August soybean exports slump amid stockpiling: sources

Brazil’s soybean exports slumped 41% on the month in August, according to the country’s trade data, with sources signaling stockpiling by farmers amid expectations of price rises in the coming weeks. Brazil’s soybean farmers are holding on to their crops and waiting on the dry weather in the US, which has pushed international soybean prices higher, sources told S&P Global Platts. While US soybean futures are trading in a range of $9.50/bu to $9.60/bu for September and November at the Chicago Board of Trade, bean prices in Brazil are even ...

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Beirut blast hammers grain import capacity but supplies still flow, WFP says

Beirut port’s capacity to handle wheat and other bulk cereal imports has collapsed to about a fifth or less of its level before a massive blast smashed its grain silos and other facilities, a senior U.N. official said. But Abdallah Alwardat, the country director for the World Food Programme (WFP), told Reuters that he did not see Lebanon heading towards a food crisis, although he said his organisation was keeping a close eye and was ready to step in if necessary. Beirut port had capacity to handle some 10,000-15,000 tonnes ...

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Baltic Dry Index falls to 1,362, down 33 points

Today, Friday, September 04 2020, the Baltic Dry Index decreased by 33 points, reaching 1362 points.

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WTO issues new report regarding impact of COVID-19 crisis on agricultural trade

While overall merchandise trade fell sharply in the first half of 2020, agricultural and food exports increased by 2.5 per cent during the first quarter of the year compared to the same period in 2019, with further increased in March and April. However, the crisis has exerted further downward pressure on food prices, and therefore on producer revenues. In addition, while world food stocks and production levels for the most widely consumed staples — rice, wheat and maize — are at or near all-time highs, the COVID-19 pandemic’s impact on ...

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Baltic index slips on falling capesize, panamax rates

The Baltic Exchange’s main sea freight index fell on Thursday, hurt by declining rates for capesize and panamax vessels. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.5%, to 1,395, its lowest since Aug. 3. The capesize index dropped by 108 points, or 5.1%, to 2,019, its lowest since July 28. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined ...

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Baltic Dry Index falls to 1,395, down 50 points

Today, Thursday, September 03 2020, the Baltic Dry Index decreased by 50 points, reaching 1395 points.

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Baltic index falls on weaker capesize, panamax rates

The Baltic Exchange’s main sea freight index dropped on Wednesday, pressured by a dip in capesize and panamax vessel rates. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 26 points, or 1.8%, to 1,445. The capesize index dipped by 49 points, or 2.3%, to 2,127. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined $406 to $17,638. The panamax index edged 36 points ...

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Baltic Dry Index falls to 1,445, down 26 points

Today, Wednesday, September 02 2020, the Baltic Dry Index decreased by 26 points, reaching 1445 points.

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China suspends barley imports from Australia’s largest grain exporter

China’s General Administration of Customs said barley shipments from CBH Grain would be halted after pests were found on multiple occasions, the administration said on its official WeChat account. Representatives for CBH Grain did not immediately respond to requests for comment. While Beijing’s ruling on CBH Grain did not essentially affect trade after the imposition of more than an 80% tariff on Australian barley earlier this year, it cast a shadow over Australian exports to China. “It is a signal, showing that Australian firms will be in an unfavourable situation. ...

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