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Dry Bulk Market

Dry Bulk FFA: Panamax Index In Correction Mode

The Panamax index remains corrective with the 8 – 21 period EMA’s showing a bearish cross but remaining above the 55 period MA. Technically the Index is starting to look oversold with the short period RSI on the weekly now at 7. However, a lower low on the daily technical and an overbought medium term stochastic would suggest that there are signs that the longer term technical could be weakening. The April futures have gone from corrective to bearish with the shorter period EMA’s now below the 55 period MA. ...

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Indonesia: Association urges postponing new coal shipping rules

The Indonesian Coal Mining Association (APBI) has called on the government to postpone implementing a new shipping policy that will oblige coal and crude palm oil (CPO) exporters to ship their commodities using only domestic shipping companies and insurance services. The policy is stipulated in Trade Minister Regulation No. 82/2017, which was issued last October and was to take effect at the end of April 2018. As of today, APBI executive director Hendra Sinadia said, the government was still unable to guarantee the readiness of the country’s shipping industry, including ...

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Baltic Dry Index falls to 953, down 24 points

Today, Thursday, April 05 2018, the Baltic Dry Index decreased by 24 points, reaching 953 points.

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Australia’s DBCT declares force majeure on coking coal loadings: sources

Australia’s Dalrymple Bay Coal Terminal has declared force majeure on coking coal loadings, after operations at several terminals, as well as rail operations, were suspended due to Tropical Cyclone Iris, five miners who received the notice said Wednesday. A miner who received the notice late Tuesday said there was already a queue of 20 vessels at the DBCT terminal on Monday, with another 31 vessels arriving in 14 days. “Should these vessels be unable to move out, there could be a pileup of possible 50 vessels,” he said. DBCT has ...

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Baltic Dry Index falls to 977, down 39 points

Today, Wednesday, April 04 2018, the Baltic Dry Index decreased by 39 points, reaching 977 points.

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Dry Bulk FFA: Capesize Paper Market Backpedals on Growing Concerns Over Australian Cyclone

Capesize FFA Commentary: Another despairing day for the big ships as concerns grew over the threat of a cyclone of EC Australia while port problems continued in Brazil. This coupled with some weaker spot fixtures for the c5 led to the paper curve being marked sharply down as longs exited the party. Panamax FFA Commentary: It was a gloomy start post holidays with sellers present from the outset on Panamax paper as the underlying continues to see tonnage build in both basins and cape paper remaining under pressure. This saw ...

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Sizing Up China’s Bulkcarrier Fleet

Over the last decade, the global bulkcarrier fleet has expanded rapidly, more than doubling between the start of 2008 and March 2018 to total 822.5m dwt. China has played an important role, with the Chinese owned bulkcarrier fleet accounting for nearly a quarter of this increase. Meanwhile, significant changes to the composition of China’s bulker fleet have also taken place during this time. Putting On Weight China is the third largest bulkcarrier owning nation behind Greece and Japan, with a fleet of 144.8m dwt at the start of March 2018. ...

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Shipping Q1: Asia Pacific dry freight market stutters after promising start

The story of the Asia Pacific dry bulk markets for 2018 has been that of a promising start, but a shaky entry into the second quarter and a hopeful medium term, based on the trends that emerged from Q1. Almost all the segments of the dry bulk market — Capesize, Panamax, Supramax and Handysize — started the year on a very steady note. However, towards the end of Q1, the market started to lose momentum with the rates seeing a mini-collapse. CAPESIZE — THE RISE AND FALL Despite a rather ...

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China’s coastal coal freight rates fall in week to April 3

Freight rates for shipping coal from northern China’s Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China began to fall in the week to April 3, port operator Qinhuangdao Port Tuesday said. The freight rate from Qinhuangdao to Zhangjiagang in eastern China’s Jiangsu province for 20,000-30,000 mt capacity vessels dropped by Yuan 3.60/mt week on week to Yuan 33.70/mt ($5.36/mt) on April 3, Qinhuangdao Port said. The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 ...

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Baltic Dry Index falls to 1016, down 39 points

Today, Tuesday, April 03 2018, the Baltic Dry Index decreased by 39 points, reaching 1016 points.

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Boston Carriers Inc. Announces Entering a Spot Voyage for the MV Nikiforos (“Nikiforos”)

Boston Carriers Inc. announces that during February 2018, Nikiforos completed the previously announced contract of clinker from a Middle eastern port to east coast India. This voyage produced approximately 726,000 USD of operating revenues. The Company has then entered another spot voyage contract for transporting 35,000 of gypsum in between Middle eastern ports. The second voyage which is concluded today is contributing approximately 340,000 USD of operating revenues. Last the Company entered a contract for transporting 43,000 tons of Gypsum from a middle easter port to east coast India which ...

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Dry Bulk Market: Essar Shipping Bullish About the Market’s Prospects and the Potential for Growth for Indian Ship Owners

In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Ranjit Singh, Executive Director and CEO of Essar Shipping Ltd. discusses the company’s activities and prospects, with regards to the great development potential of the Indian shipping market. He also shares his views on the tanker and dry bulk markets, as well as the approach by Indian ship owners towards the 2020 IMO rule regarding the use of low-sulphur fuels. Essar Shipping is one of the biggest shipping companies in India. Can you take us through the fleet size ...

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Pan Ocean posts 51.1% jump in full-year earnings

South Korean bulk carrier Pan Ocean Co saw its full-year net income jump 51.1 per cent to US$126.48 million on a 27.7 per cent increase in revenue as market conditions for dry bulk carriers improved in 2017. Earnings per share was US$0.23, up from US$0.16. Revenue for the 12 months ended Dec 31, 2017 rose to US$2.07 billion, up from US$1.62 billion for FY2016. Full-year gross profit was 21.0 per cent higher year-on-year at US$233.55 million as the increase in revenue more than offset an increase in cost of sales. ...

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Dry Bulk FFA: Capesize C7 Index Bearish

Highlights: The C7 Index remains technically bearish, however the 21 period RSI at 24 is oversold whilst on a 5th wave down suggesting we have the potential to reach exhaustion point soon. Potential volatility ahead for the April C7 as it looks to test the long-term trend support. If support holds then it should attract technical buyers to the market. If support is broken it need to act as a proven resistance to avoid a market whipsaw. Elliott wave analysis would suggest the Q2 futures are in a leg 4 ...

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Dry Bulk FFA: Capesize Paper Market Sell-Off

Capesize FFA Commentary: The physical decline appears to be gathering pace again which manifested itself in a significant paper sell off in the morning session. The damage would appear to have been done early on as the nearly 7% fall in the index did little to change rates for the remainder of the day. There was some solid support down the curve as the market drew to a close, leaving a glimmer of hope for a revival in rates after the eater break that looms. Panamax FFA Commentary: Panamax paper ...

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