Today, Monday, June 29 2020, the Baltic Dry Index climbed by 45 points, reaching 1794 points.

China purchased 8.9 million mt of Brazilian soybeans in May, accounting for over 94% of its total monthly soy imports, while the US soybeans accounted for a dismal 5% share at 0.49 million mt, Chinese customs data showed June 25. Between January 1 and May 31, Brazilian real depreciated over 35% against the dollar, which made its soybeans very price competitive against its main rival, the US, market sources said. The Chinese crushers cashed in on this opportunity and bought a bulk of Brazilian beans in this period, as a ...

China’s iron ore demand is expected to remain at record levels this year off the back of a government infrastructure spending spree, before declining in 2021. Analysts, however, warn Beijing is looking for long-term alternatives to Australian imports. Xu Xiangchun, chief information officer at Chinese research firm MySteel said more than half the demand was being driven by steel products used in construction, such as reinforcing bars called rebar. On the flipside, the appetite for steel plates and other products used in manufacturing was declining because China’s factories were producing ...

Capesize As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a barrage of negative factors, the capesize 5TC market has outperformed in spectacular fashion to now reside at $29641. Breaking for a pause early on in the week, the market renewed conviction mid-week to push higher on the back of the tight tonnage supply in the Atlantic. This is often the case after periods of prolonged weak fundamentals. Vessels are now being seen changing hands in ...

The Baltic Exchange’s main sea freight index edged higher on Friday, helped by an uptick in rates for capesize and panamax vessels, and posted a sixth consecutive weekly gain. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 11 points, or 0.6%, to 1,749 and rose 12.5% this week. The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that sapped demand for vessels. The Baltic ...

It is the panacea for all markets, the biggest factor that could help us recover some sense of normality, the only thing that will bring a smile to suppliers across the world. It is, of course, increasing demand. The virus has caused huge disruption and left markets unable to react quickly enough to counteract the dramatic drop in demand. Now, with the opening up of economies after lockdown, our thoughts – and those of traders, investors, economists, bankers etc – are increasingly turning to the question of increasing demand. With ...

Today, Friday, June 26 2020, the Baltic Dry Index climbed by 11 points, reaching 1749 points.

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2020. For the quarter ended March 31, 2020, the Company generated net revenues of $13.3 million, a 17% decrease compared to the first quarter of 2019. EBITDA for the quarter was approximately $1 million, compared to EBITDA of $0.4 million in the same period of 2019 . Net loss for the first quarter was $8.3 million compared to net loss of $8.6 million in the first quarter of 2019. The daily Time Charter Equivalent (“TCE”)1 ...

The Baltic Exchange’s main sea freight index extended gains for a 20th straight session on Thursday, on firmer rates across all vessel segments. * The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 33 points, or 1.9%, to 1,738, its highest since Oct. 30 * The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that sapped demand for vessels. * The Baltic capesize index gained ...

Ship owners are turning towards second hand ships in the post-pandemic era, at least for now, turning their backs on newbuilding orders. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, the relatively good momentum in the SnP market continued for yet another week, with both the activity being noted and buying appetite seemingly re-emerging at a fast pace. As of the past week, we experienced a good flow of transactions in the bigger size segments too (and for more modern units), helped (to ...

Dry bulk was where day traders placed their bets back in the day, in the mid-2000s, but this year, traders on Robinhood and other retail platforms have instead put their chips on floating storage and stocks like Nordic American Tankers (NYSE: NAT). Here’s the emerging dry bulk shipping pitch: Dry bulk stocks trade in relatively high correlation with spot rates and unlike tanker stocks, they don’t face a painful floating-storage destocking phase. Dry bulk rates have just dramatically spiked off extremely low levels and could go much higher if Chinese ...

Import shipments originating from China and Hong Kong are held back at major Indian seaports and airports since Monday, sources with knowledge of the matter have told CNBC-TV18. Customs authorities in Chennai, Delhi, Kolkata, and Ahmedabad have ordered these consignments to undergo a “100 percent examination” at the item-level, leading to significant delays. Even those shipments which have been given an Out of Charge (OOC) order are being held back at ports and container freight stations. Authorities have instructed that “Open and de-stuff all container cargo and examine 100 percent ...

Today, Thursday, June 25 2020, the Baltic Dry Index climbed by 33 points, reaching 1738 points.

Commodity stocks took a hit in the first quarter (Q1), as the strict lockdown in Wuhan led to heightened fears of an impending crash in demand for raw materials. Manufacturing has been hit hard over recent months, highlighting the sharp contraction in global output. Surge pushes Baltic Dry Index to yearly high However, the Baltic Dry Index (BDI) tells a very different story that is emerging, with a recent surge pushing the crucial barometer of global growth into a fresh 2020 high. The BDI provides a gauge of shipping prices ...

China’s soybean buyers are asking exporters to sign a letter guaranteeing their cargoes are not contaminated with the novel coronavirus, U.S., Brazilian and Canadian soy industry officials said. China is trying to prevent any risk of new COVID-19 infections from imported goods as it takes aggressive measures to contain a recent spike in coronavirus infections linked to a sprawling wholesale food market in Beijing. Most international authorities say there is no evidence that the coronavirus can be transmitted from food to people. Two grain export traders told Reuters that their ...