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 ...

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 ...

Brazilian soy exports to China will definitely decline this year as African swine fever in the world’s No. 2 economy cuts demand for the animal feed, but potential growth in meat exports would offset this, Brazil’s agriculture minister said. Speaking in a huddle with journalists, Tereza Cristina Dias said a Chinese outbreak of African swine fever, which kills pigs but poses no danger to humans, threatens yet offers opportunities for Brazil’s agricultural exports. Brazil is the world’s largest soybean exporter, while China is the largest importer. As many as 200 ...

Today, Tuesday, April 23 2019, the Baltic Dry Index climbed by 31 points, reaching 821 points.

India’s coal import increased by 8.8 percent to 233.56 million tonnes in 2018-19, according to a report. Coal imports were at 214.61 MT in 2017-18, according to provisional data by mjunction services, based on monitoring of vessels’ positions and data received from shipping companies. mjunction, a joint venture between Tata Steel and SAIL, is a B2B e-commerce company that also publishes research reports on coal and steel verticals. “India’s coal and coke imports during 2018-19 through 31 major and non-major ports are estimated to have increased by 8.83 percent to ...

Unless ship owners pick up their ship recycling activities freight rates will remain in sub-par levels, is the main view of an ever increasing number of market delegates. In a recent report, shipbroker Intermodal said that “once again, we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost a given, the continuous decline in the dry bulk rates has stopped any ambitions owners might have had for SnP transactions”. According to Mr. Giannis Andritsopoulos, SnP ...

The Capesize market looks to be weak again in Q2 as the Vale dam accident and repairs at key ports cut demand for the vessels that typically carry iron ore and coal, according to dry bulk market participants. Freight levels slumped in Q1 after Vale’s Brumadinho mining dam rupture in January, which led to mine closures. Tropical storm Veronica in the Pacific Ocean also damaged some ports in Australia, leading to less demand for Capesize vessels. “It is unreasonable to expect any large recovery, if the market is solely supported ...

The disruption in the iron ore seaborne trade this year has been well documented, together with the negative impact that this development has had in the Capesize dry bulk segment. However, analysts point out that coal trade could prove to be a dampening factor in the market, helping to alleviate part of the demise of the first few months of 2019. In its latest weekly report, shipbroker Allied said that “the collapse noted in the iron ore trade volumes has steered several ship-owners to seek alternative sources of earnings. With ...

A supply squeeze on iron ore which has driven the price up by 35% over the past three months is showing its first sign of easing, though perhaps not for long with pent-up demand likely to give the steel-making material a second wind which could see the price surge through $100 a ton. Pressure on iron ore is expected to ease after a court decision in Brazil cleared the way to re-start production at the mothballed Brucutu mine, one of several closed after a second dam-collapse disaster raised doubts about ...

On April 10, 2019, President Donald Trump signed an Executive Order seeking to address permitting and policy obstacles preventing the export of coal and other energy resources through West Coast ports. New port facilities and improvements have been halted or delayed by state, local and tribal governments in California, Washington and Oregon.[1] The Executive Order is the most recent, but certainly not the only, response to efforts to stop interstate shipment and export of coal. The Executive Order requests a report on the economic impacts of blocking exports of domestic ...

Even with an ongoing trade war, China was the top destination for U.S. soybeans during the first half of the current marketing year, and the Asian country will help determine whether American beans can meet the U.S. government’s full-year export targets. Data published by the U.S. Census Bureau on Wednesday showed that the United States exported 4.58 million tonnes of soybeans in February, the largest volume for the month in three years. Some 46 percent of those shipments were to China, the largest monthly share in a year. Those February ...

Today, Thursday, April 18 2019, the Baltic Dry Index climbed by 23 points, reaching 790 points.

Capesize The positive news of Vale hoping to restart Brucutu in 72 hours was partially offset by BHP confirming that they will ship 8 million tonnes less than forecast due to Cyclone Veronica. Following the push up of rates late Tuesday, we eased in Asian hours before finding some more support when Europe opened. Volumes were healthy with the curve from April through Cal 21 paid steadily throughout the day. The physical market is yet to show any significant gains and these need to come to fruition if the paper ...

Coal India’s (CIL) delays in setting up coking-coal washeries inflated the country’s coal imports by $3 billion or over 40% in FY18, steel companies have estimated. The firms have warned that imports of the fuel, which could drive up India’s goods trade and current account deficit, could rise further if adequate number of domestic washeries are not set up in the public and private sectors. In letters sent to steel and coal ministries, the Indian Steel Association (ISA) has pointed out that if the situation does not improve, import bills ...

With the first quarter of 2019 already past us, it’s now becoming increasingly obvious that the dry bulk market will find it hard to experience a third consecutive year of recovery, not to mention new peaks. In its latest weekly report, shipbroker Allied Shipbroking said that “a mere 6 months ago, the prevailing sentiment was that 2019 would be the third year of a consecutive recovery in the market, with the shared prevailing thought being that the market was finally ready for new peaks. Strong fundamentals and bullish sentiment were ...