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Dry Bulk Market

Baltic Dry Index climbs to 1816, up 39 points

Today, Thursday, July 11 2019, the Baltic Dry Index climbed by 39 points, reaching 1816 points.

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Strong demand for iron ore shipments propel Baltic index to 5-1/2 year high

The Baltic Exchange’s main sea freight index rose to its highest in more than five and a half years on Wednesday, driven by demand for capesize vessels shipping iron ore. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 1%, or 18 points, to 1,777, its highest since January 2014. * The index rose 28% last week to post its best week in nearly five years, mainly driven by strong demand for vessels that ship iron ore from Brazil. * The capesize index rose 18 ...

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NYK to Build New Energy-saving Bulk Carrier under Long-term Charter Contract

NYK has concluded a contract with Japan Marine United Corporation (JMU) for construction of a next-generation energy-saving bulk carrier. After delivery in 2021, the ship is expected to transport raw materials for JFE Steel Corporation under a long-term charter contract between NYK and JFE Steel. The ship will be a cape-size bulker for trading iron ore and coking coal in and around the Pacific. The new energy-efficient vessel not only will be compliant with NOx (nitrogen oxide) emission regulations (Tier III) and the IMO SOx emission cap* but also will ...

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Baltic Dry Index climbs to 1777, up 18 points

Today, Wednesday, July 10 2019, the Baltic Dry Index climbed by 18 points, reaching 1777 points.

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Dry Bulkers In Demand After Market Rally

The market for dry bulk carriers, both newbuildings and second hand, has heated up considerably on the back of strong sentiment exhibited in the freight market of late. In its latest weekly report, shipbroker Allied Shipbroking said that it was “a rather interesting week for the dry bulk sector, inline somehow with the overall positive momentum that is being portrayed in the freight market as of late. At this point, we are seeing a robust jump in interest in the Capesize market (even if it is still at an early ...

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Baltic index hits 11-month high on strong demand for shipping iron ore

The Baltic Exchange’s main sea freight index rose to its highest in 11 months on Tuesday, driven by higher rates for larger capesize vessels on strong demand for shipping iron ore. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose about 2%, or 34 points, to 1,759, its highest since early August. The index rose 28% last week to post its best week in nearly five years, mainly driven by strong demand for vessels that ship iron ore from Brazil. The capesize index rose 83 points, ...

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Dry freight rates to ride high on ship fuel refits -Cargill

With the world’s largest dry cargo ships coming out of service for refits to comply with tougher rules on emissions, charter rates are expected to remain strong, a top Cargill executive said, after posting 7-fold gains already this year. “There are a lot of ships – especially on the capesizes – that will go into scrubber fitting which basically means they will be out of service for at least 25 days each to do so,” Jan Dieleman, president of trading firm Cargill’s ocean transportation business, told Reuters. “If you add ...

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Baltic index breaks 16-session winning streak as capesize rates dip

The Baltic Exchange’s main sea freight index took a breather on Monday after rising for 16 straight sessions, as rates for capesize vessels fell after a strong run over the past couple of weeks. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.9%, or 15 points, to 1,725. * The index rose 28 percent to post its best week in nearly five years last week, mainly driven by strong demand for vessels that ship iron ore from Brazil. * The capesize index fell 86 ...

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Baltic Dry Index climbs to 1759, up 34 points

Today, Tuesday, July 09 2017, the Baltic Dry Index climbed by 34 points, reaching 1759 points.

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China and India Lead the Dry Bulk Market’s Rebound

A lot has been said regarding the dry bulk market’s rebound and future potential, however, much will come down to China’s and India’s dry bulk commodities’ demand growth, most notably iron ore and coal. In China, shipbroker Banchero Costa recently said that “Chinese steel production has proved surprisingly resilient this year, as the government pushed forward more infrastructure and construction investment to compensate for the negative effects on jobs and growth that the trade war is having on the manufacturing sector. China’s crude steel output hit a record high of ...

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Clarksons: Mid-Year Report for Shipping A Mixed Picture

In this week’s analysis, we again update shipping’s mid-year report, reviewing progress across a range of shipping sector “subjects”. Our overall ClarkSea Index increased 8% y-o-y in the first half, to move marginally above the trend since the financial crisis. However while some “subjects” still achieve an “A” for effort, others might have to “repeat a year” unless they sit additional classes over the summer! Grades Across The Segments Despite progress, it still seems shipping has a way to go before it becomes a “straight A” student! The tanker market ...

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Iron ore on route to recovery

This year has not been the easiest of years for iron ore. In January, the collapse of a Vale-owned tailings dam at the Córrego do Feijão iron ore mine near the Brazilian municipality of Brumadinho resulted in over 200 deaths. On top of the tragedy, the disaster has had serious consequences for iron ore supply. However, there’s a growing sense that supply constraints have peaked. Speaking exclusively to Baltic Briefing, Erik Hedborg, business intelligence company CRU’s senior iron ore analyst, explains: “I think 2019 has been an exceptional year in ...

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Baltic Dry Index falls to 1725, down 15 points

Today, Monday, July 08 2019, the Baltic Dry Index decreased by 15 points, reaching 1725 points.

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China’s steelmakers say iron ore import prices are too high

Surging iron prices have taken a hit from signs the Chinese government could act on complaints from Chinese steel mills that market manipulation by futures traders is squeezing their profit margins. Iron ore futures, which hit a five-year high last week, fell almost 4 per cent late Friday after a top official representing China’s powerful steel industry said Beijing was preparing to crackdown on soaring prices. Dual-listed shares in Australian miners BHP Billiton and Rio Tinto fell sharply in London on news that China’s top steelmakers had formed a working ...

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Dry Bulk: A Week of Rally

Capesize The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw a week on week lift of $7,084 to settle at $26,444. As usual, this volatile rise was initially Atlantic Basin lead. Black Sea iron ore fronthaul cargoes supplied the sparking tinder, which took a toll on the already sparse Atlantic tonnage supply. Higher transatlantic rates ensued. The Brazil to China C3 route supplied a timely and healthy amount of cargoes to aggravate the tonnage imbalance. The Pacific ...

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