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Dry Bulk Market

Castor Maritime Inc. “Hunting” For More Profits With New Vessel Acquisitions

Castor Maritime Inc., a global shipping company specializing in the ownership of dry-bulk vessels, announced its results (unaudited) for the nine and three months ended June 30, 2019. Financial Highlights of the Nine and Three Months Ended June 30, 2019: Voyage revenues: $3.0 million and $1.0 million for the nine and three months ended June 30, 2019, as compared to $2.8 million and $1.1 million for the nine and three months ended June 30, 2018, respectively; Net income: $0.6 million and $0.3 for the nine and three months ended June ...

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Baltic index snaps 10-day winning streak

The Baltic Exchange’s main sea freight index fell on Thursday, breaking a 10-day winning streak, as rates for capesize vessels eased. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 19 points, or 0.8%, to 2,499 points. On Wednesday, the index hit its highest since November 2010 at 2,518 points. “We certainly expect freight rates to come down from the highest that we’ve seen just during the spike now, but remain profitable for the remaining part of the year,” said Peter Sand, chief shipping analyst at ...

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Navios Maritime Holdings Inc. Reports Revenues of $147.2 Million, Fleet’s Average Age Down by 26%

Navios Maritime Holdings Inc., a global seaborne shipping and logistics company, yesterday reported financial results for the second quarter and six month period ended June 30, 2019. Angeliki Frangou, Chairman and Chief Executive Officer, stated, “I am pleased with the results of the second quarter of 2019 for which we reported revenue of $147.2 million and Adjusted EBITDA of $62.6 million.” Angeliki Frangou continued, “Charter rates in the dry bulk sector have been robust lately. While NM earned a TCE rate of $10,500 per day for the second quarter of ...

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Baltic Dry Index falls to 2499, down 19 points

Today, Thursday, September 05 2019, the Baltic Dry Index decreased by 19 points, reaching 2499 points.

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Baltic index up for tenth consecutive session on stronger capesize demand

The Baltic Exchange’s main sea freight index rose for a tenth-straight session on Wednesday, holding on to a near nine-year peak touched last week, helped by higher capesize demand. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 17 points, or 0.7%, to 2,518 points, a level last seen in November 2010. The capesize index rose 181 points, or 3.7%, to 5,043 points, its highest since June 2010. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose ...

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Brazil’s Aug soybean exports to China down 40% on year

Brazil shipped 4.1 million mt of soybeans to China in August, down 40% year on year, according to the Secretariat of Foreign Trade of Brazil, or Secex. Though Secex didn’t provide any reason for the sharp drop, but trade sources cited rising competition from Argentina and African swine fever among the reasons for the decline. China accounted for 77% of soybean shipments from Brazil for the last month, the Secex said. Over January-August, Brazil has shipped 43.32 million mt of soybeans to China, down 14% year on year, the report ...

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Baltic Dry Index climbs to 2518, up 17 points

Today, Wednesday, September 03 2019, the Baltic Dry Index climbed by 17 points, reaching 2518 points.

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Safe Bulkers, Inc. Looking Forward To Higher Dry Bulk Charters

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and six months period ended June 30, 2019. Management Commentary Dr. Loukas Barmparis, President of the Company, said: “In the first half of 2019 the charter market was weak with the BDI9 averaging 895. Since then the BDI has risen to an average of 1,904 for the 3rd quarter to date and as a consequence we are now entering into charters at much higher rates. We are on track with our ...

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Baltic index up for ninth-straight session on firmer capesize demand

The Baltic Exchange’s main sea freight index rose for a ninth-straight session on Tuesday, holding on to a near nine-year peak touched last week, helped by stronger capesize demand. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 59 points, or 2.4%, to 2,501, a level last seen in November 2010. The capesize index rose 203 points, or 4.4%, to 4,862 points, its highest since June 2010. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $1,418 ...

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Baltic Dry Index climbs to 2501, up 59 points

Today, Tuesday, September 03 2019, the Baltic Dry Index climbed by 59 points, reaching 2501 points.

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Baltic index hits new nine-year high on strong capesize demand

The Baltic Exchange’s main sea freight index rose for an eighth-straight session on Monday, beating a near nine-year peak marked at the end of last week and helped by robust capesize demand. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 64 points, or 2.7%, to 2,442, a level last seen in November 2010. The capesize index rose 192 points, or 4.3%, to 4,659 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $1,518 to $36,101. ...

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Delivery of bulk carrier Federal Montreal by Oshima Shipbuilding marks Fednav’s 50th DNV GL classed vessel

In a recent ceremony at Oshima Shipbuilding Co. Ltd., Canadian dry bulk shipping company Fednav Limited (Fednav) took delivery of Federal Montreal, its latest newbuild bulk carrier. The vessel is the 50th Fednav vessel classed by DNV GL. The 34,500 dwt international ice-class vessel Federal Montreal is one of six DNV GL classed newbuild bulk carriers contracted to Oshima Shipbuilding as part of Fednav’s vessel replacement program. The ship is designed to emit 30 per cent less greenhouse gases than similar vessels and is equipped with an Optimarin ultraviolet ballast ...

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Dry Bulk Market: Demand Ramping Up Bodes Well for Shipping

The dry bulk market is entering the final period of 2019 on a high note. It’s quite the constrast compared to the early part of the year. In a recent analysis, shipbroker Banchero Costa noted that “in the first 7 months of 2019, the Baltic Capesize, Panamax, Supramax and Handysize TC indices averaged respectively 12,675 USD/day, 9,340 USD/day, 8,559 USD /day and 6,206 USD/day, decreasing respectively by ‐17.6%, ‐16.3%, ‐23.1% and ‐27.7% y‐o‐y from Jan‐Jul 2018”. In terms of vessel activity, the shipbroker said that “benchmark newbuilding prices in July ...

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Baltic Dry Index climbs to 2442, up 64 points

Today, Monday, September 02 2019, the Baltic Dry Index climbed by 64 points, reaching 2442 points.

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Dry Bulk Market: Capesizes Lead the Way

Capesize The market continued to firm all week, with the 5TC closing on Friday at $34,583, up $4,146 for the week. This marks a new high for the year and a remarkable lift from the lows of 3 April 2019, when it was a mere $3,540. Over the week, signals had been apparent that the Atlantic was coming to the boil as healthy demand struggled to find tonnage. Coming to a head at the end of the week, Brazil to China leapt almost $2 to settle on the index at ...

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