Almost half of the world’s trading dry bulk fleet was built in China, while an additional 66.4% of the orderbook is currently under construction in China. Additionally, more than 60% of the tanker fleet was also built in China, which would create a major issue when it comes to trade through the U.S. ports. In its latest weekly report, shipbroker Banchero Costa said that “the current USA government is no stranger to making proposals which send shockwaves through the shipping and commodities markets. The most recent one is to target ...

Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, Friday announced the results of the Company and its subsidiaries (collectively the “Group”) for the year ended 31 December 2024. Stable Financial Results Mr. Martin Fruergaard, CEO of Pacific Basin, said: “In 2024, we generated an underlying profit of US$114.1 million, a net profit of US$131.7 million and EBITDA of US$333.4 million, yielding a return on equity of 7% and basic EPS of HK19.9 cents. The seasonal ups and downs that typically characterise the dry bulk market ...

Iron ore futures prices fell on Friday and were set for monthly losses, pressured by U.S. tariff concerns and mounting trade frictions against Chinese steel exports. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed down 0.74% to 799.5 yuan ($109.72) a metric ton. The contract has lost 1.17% for the month. The benchmark March iron ore on the Singapore Exchange was 1.36% lower at $103.65 a ton, losing 1.94% in February. U.S. President Donald Trump said on Thursday his proposed 25% tariffs on Mexican and ...

Today, Friday, February 28 2025, the Baltic Dry Index climbed by 70 points, reaching 1229 points.

China’s evolving grain import strategy reflects its increasing focus on domestic production to enhance food security and support local farmers. This shift is reshaping the global grain trade, particularly the tonne-mile demand for Panamax vessels, by reducing their rates on specific trade routes. China’s changing grain import dynamics China’s grain imports have been on a rise through 2020 to 2023, with a peak – 60 million tonnes imported in 2021. However, Mexico overtook China to become the largest grain importer in 2024, with the latter’s imports declining 13% YoY. This ...

The dry bulk market has been recovering over the past few days. In its latest weekly report, shipbroker Xclusiv said that “dry bulk market freight rates are showing signs of improvement after a period of decline. The Baltic Exchange TC averages began to slow down in the last five months of 2024, with a more pronounced drop in the weeks leading up to and following the Chinese New Year. The Cape 5TC, for instance, hit its lowest point on February 12, 2025, at $5,899/day, but has since improved by about ...

The Baltic Exchange’s dry bulk sea freight index, which measures rates for vessels moving dry bulk commodities, advanced to its highest level since early December on Thursday, aided by increased capesize demand. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, edged 47 points higher to 1,159 points, highest since December 9. The capesize index gained 176 points to 1,573 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, gained $1,462 to $13,046. Iron ore futures ...

Baltic Exchange, the world’s only independent source of maritime market information for the trading and settlement of physical and derivative contracts, and Veson Nautical, a global leader in maritime data and freight management solutions, have joined forces to launch the latest version of the official Baltic99 questionnaire for the dry bulk sector. The questionnaire, which remains the industry standard for collecting and collating detailed information about the global dry bulk fleet, is designed to help owners and charterers share common data requirements to speed up the vetting process when a ...

Iron ore futures prices closed lower on Thursday, pressured by escalating tariff measures against Chinese steel, though solid demand for the steel-making ingredient in top consumer China cushioned the downward trend. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.8% lower at 805 yuan ($110.77) a metric ton. The benchmark March iron ore (SZZFH5) on the Singapore Exchange was trading 0.93% lower at $104.9 a ton. The outlook for Chinese steel exports is uncertain, as more countries impose tariffs on Chinese steel products. ...

Today, Thursday, February 27 2025, the Baltic Dry Index climbed by 47 points, reaching 1159 points.

The Baltic Exchange’s dry bulk sea freight index, which measures rates for vessels moving dry bulk commodities, rose for a tenth straight session on Wednesday to its highest level in more than two months, helped by higher capesize and supramax rates. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, is up 73 points at 1,112 points, its highest since December 10. The capesize index added 238 points to 1,397 points, a more than six-week high. Average daily earnings for capesize vessels, which typically transport ...

Recent observations indicate that imported iron ore stocks at China’s major ports have seen a slight decrease, dropping by 529,900 tonnes, or 0.3% week-on-week, to a total of 153.4 million tonnes as of February 20. This reduction occurs even as both the incoming and discharged volumes of iron ore have risen in recent weeks, suggesting that while port operations are strong, there is a clear drawdown in overall stockpiles. This modest dip in port inventories appears to indicate that China’s immediate demand for iron ore imports is being met by ...

Golden Ocean Group Limited, the world’s largest listed owner of large size dry bulk vessels, today announced its unaudited results for the quarter ended December 31, 2024. Highlights Net income of $39.0 million and earnings per share of $0.20 (basic) for the fourth quarter of 2024, compared to net income of $56.3 million and earnings per share of $0.28 (basic) for the third quarter of 2024. Net income of $223.2 million and earnings per share of $1.12 (basic) for full year 2024, compared to net income of $112.3 million and ...

Iron ore futures prices weakened for a third consecutive session on Wednesday, weighed down by dour outlook for Chinese steel exports and heightened trade tensions between the U.S. and top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed 0.98% lower to finish at 812 yuan ($111.86) a metric ton. Earlier in the session, the contract hit 803 yuan to its lowest level since February 18. The benchmark March iron ore (SZZFH5) on the Singapore Exchange was 0.22% lower at $105.8 a ton, as ...

Today, Wednesday, February 26 2025, the Baltic Dry Index climbed by 73 points, reaching 1112 points.