Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of $35.6 million and net income attributed to common stockholders of $34.2 million for the second quarter of 2022. This compares to net income of $2.8 million and net income attributed to common stockholders of $1.4 million for the second quarter of 2021. Earnings per share for the second quarter of 2022 was $0.44 basic and $0.42 diluted, compared to earnings per share of $0.02 basic and diluted ...

Australia’s Fortescue Metals Group FMG.AX on Thursday forecast higher iron ore shipments for the next year, on hopes of stronger performance at its Eliwana project, and logged record quarterly shipments despite a tight labour market and higher costs. The Perth-based company’s report comes on the heels of peers Rio Tinto RIO.AX, BHP BHP.AX and a host of other miners flagging labour market issues in the state of Western Australia as new strains of COVID-19 lead to worker absenteeism. The world’s fourth-largest iron ore miner said it expects 187 million tonnes ...

Iron ore futures extended their rally to a fifth session on Thursday, pushing the Singapore benchmark to a four-week high, bolstered by rebounding steel margins in China that have prompted some steel producers to restart blast furnaces. The most-traded iron ore, for September delivery, on China’s Dalian Commodity Exchange climbed 5.1% to 778 yuan ($115.28) a tonne, its strongest level since July 8. September iron ore on the Singapore Exchange rose 4.7% to $117.70 a tonne, the highest since June 30. Twelve blast furnaces in China have resumed operations as ...

Today, Thursday, July 28 2022 , the Baltic Dry Index decreased by 62 points, reaching 1945 points.

Navios Maritime Partners L.P. an international owner and operator of dry cargo and tanker vessels, agreed to acquire a 36-vessel drybulk fleet for a gross purchase price of $835.0 million, including the assumption of $441.6 million of bank liabilities, bareboat obligations and finance leasing obligations, subject to debt and working capital adjustments (the “Transaction”), from Navios Maritime Holdings Inc. (“Navios Holdings”) (NYSE:NM). The 36-vessel drybulk fleet consists of 26 owned vessels and 10 chartered-in vessels (all with purchase options) with a total capacity of 3.9 million dwt and an average ...

Turkish Defence Minister Hulusi Akar on Wednesday unveiled a centre in Istanbul to oversee the export of Ukrainian grains after a landmark U.N. deal last week, with the first shipment expected to depart from Black Sea ports within days. Russia and Ukraine signed the deal, brokered by Ankara and the United Nations, on Friday to reopen grain and fertiliser exports that have been blocked by war to ease an international food crisis. The joint coordination centre (JCC) in Istanbul will oversee departures from three Ukrainian ports in which ships must ...

The Baltic Exchange’s main sea freight index fell for the third straight session on Wednesday, hitting a two-week low as rates across vessel segments declined. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 54 points, or 2.6%, to 2,007 points, its lowest since July 13. The capesize index fell for the third straight session, losing 122 points, or nearly 5%, to 2,333 points, a 15-day low. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were ...

Dalian iron ore futures rose on Wednesday after data showed profits at industrial firms in China, the world’s top steel producer and consumer, had rebounded last month, although the steelmaking ingredient remained under pressure in Singapore. The benchmark September contract on China’s Dalian Commodity Exchange ended morning trade 1.9% up at 741 yuan ($109.50) a tonne, extending its rally to a fourth straight session. On the Singapore Exchange, the most-traded September contract was down 1.2% at $110.80 a tonne, as of 0345 GMT, off session-low of $108.40, as the excitement ...

Iron ore futures prices have been rising for four consecutive days after the profits of steel mills restored, heightening the expectation for production resumption across the mills. However, as there lacked sustainable support on the fundamentals, the contract moved ranegbound today. As of closing, the iron ore futures ticked up 2.41% to 744.5 yuan/mt, with a combined growth of 14.89% in the past four days. On the macro front, the Fed’s July rate hike expectations have been fully priced in by the market. The next interest rate hike will be ...

Today, Wednesday, July 27 2022 , the Baltic Dry Index decreased by 54 points, reaching 2007 points.

Brazilian and Chinese officials are re-discussing a trade protocol so that Brazil can ship corn to China sooner than intended, Brazilian Agriculture Minister Marcos Montes said. Montes said the successful revision of the protocol would allow Brazilian corn to be exported to China in the second half of the year as opposed to next year, as was agreed earlier with Beijing officials. Brazil exports most of its corn in the second half of the year, competing with suppliers like the United States in that time window. China is already Brazil’s ...

The Baltic Exchange’s main sea freight index fell to a nearly two-week low on Tuesday as rates across its vessel segments declined. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 53 points, or 2.5%, to 2,061 points, the lowest since July 14. The capesize index fell for the second straight session, losing 141 points, or 5.4%, to 2,455 points, a near two-week low. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $1,167 at ...

Talk that China may end its unofficial ban on imports of Australian coal is unlikely to result in any significant increase in shipments to the world’s biggest coal buyer. Media reports last week suggested that Beijing is considering lifting the informal embargo, put in place in the second half of 2020 as tensions escalated with Canberra over a series of issues. Coal wasn’t the only commodity affected, as China placed restrictions or bans on imports of barley, seafood and wine, among others. The unofficial ban was effective, with Australia going ...

Traders bought up to seven shipments of French wheat aimed for Pakistan as part of a 300,000 tonne tender last week, European traders said on Tuesday, in a further sign that importing countries are turning to western Europe to fill a gap left by missing Black Sea grain. A severe drought in Pakistan and the impact of higher fertiliser prices have led the country to make large purchases on the world market where supplies have tightened since Russia’s invasion of Ukraine. “It looks like most Pakistan sales made earlier last ...

Today, Tuesday, July 26 2022 , the Baltic Dry Index decreased by 53 points, reaching 2061 points.