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Dry Bulk Market

Baltic index registers sixth successive drop on softer capesize rates

The Baltic Exchange’s main sea freight index ticked lower for a sixth straight session on Thursday, hurt by weaker demand for capesize vessels. The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was down 5 points, or 0.4%, at 1,255 points. The capesize index fell 34 points, or 1.4%, to 2,401 points, it’s lowest since June 18. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, shed $256 to $18,350. Capesize rates have softened as ...

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GOGL – Third Quarter 2019 Results

Golden Ocean Group Limited, a leading dry bulk shipping company, yesterday announced its results for the quarter ended September 30, 2019. Highlights ▪ Net income of $36.7 million and earnings per share of $0.26 for the third quarter of 2019 compared with net loss of $33.1 million and loss per share of $0.23 for the second quarter of 2019 ▪ Adjusted EBITDA of $81.1 million for the third quarter of 2019, compared with $21.5 million for the second quarter of 2019 ▪ Took delivery of two chartered-in 103,000 dwt ice-class ...

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Baltic Dry Index falls to 1255, down 5 points

Today, Thursday, November 21 2019, the Baltic Dry Index decreased by 5 points, reaching 1255 points.

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Star Bulk Carriers Corp. Reports $5.8 Million Net Profit for the Third Quarter 2019

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the third quarter and the nine months ended September 30, 2019. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “Star Bulk returned to profitability during the third quarter 2019, reporting TCE Revenues of $131.3 million, Adjusted EBITDA of $72.2 million and a Net Profit of $5.8 million. The average TCE increased to $14,688/ day per vessel despite our fleet being affected by the repositioning to ...

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Dry Bulk Market: Capesize Segment Could Face More Downward Pressure

The dry bulk market is perilously close to ending the year in the same dire manner with which it began it. In its latest weekly report, Allied Shipbroking commented that “on Friday, the average of the year so far for the BDI closed at 1,346bp, almost perfectly attuned with what was noted during the whole of last year. Given also that the Capesize market has been showing a strong resistance to any downward so far, we may well see a modest yearly growth accumulate for the year (however, not as ...

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Baltic index records fifth straight fall on slowing capesize demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, dipped for a fifth successive session on Wednesday, weighed down by weaker capesize vessel rates. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down by 44 points, or 3.4%, to 1,260. The capesize index dropped 108 points, or 4.3%, to 2,435 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell by $1,208 to $18,606. The panamax index rose 11 ...

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Baltic Dry Index falls to 1260, down 44 points

Today, Wednesday, November 20 2019, the Baltic Dry Index decreased by 44 points, reaching 1260 points.

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Baltic index down for fourth straight session on lower capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses to a fourth straight session on Tuesday on tepid demand for capesize vessels. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 34 points, or 2.5%, to 1,304, its lowest since June 25. The capesize index dropped 60 points, or 2.3%, to 2,543 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased by $816 to $19,814. China has ...

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Chinese seaborne thermal coal deals being canceled, delayed amid import curb

Chinese buyers of seaborne thermal coal have been cancelling deals or trying to defer delivery cargoes to the end of December amid ongoing curbs on imported material, market sources said Monday. An international trader said a Chinese buyer walked away from a deal when the cargo was loading last week. As such, the trader had to resell the cargo, incurring a loss of about $1.75-$2.00/mt. Chinese buyers do not want to restart discussions until the middle of next month when they will negotiate January cargoes, he said, as they expected ...

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Iron ore arrivals at Chinese ports rebounded on week

SMM estimates that 87 vessels carrying 11.81 million mt of iron ore arrived at major Chinese ports during November 10-16, up 530,000 mt from the week ended November 9. The marked a rebound after two straight weeks of decline. During November 10-16, deliveries grew slightly at ports in China’s steelmaking hub, Tangshan, while ports in Shandong province saw smaller arrivals. Last week, iron ore deliveries leaving Australian ports rose 730,000 mt from the prior week to 14.98 million mt. Shipments that departed Brazilian ports were estimated to climb 540,000 mt ...

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India: Andhra Pradesh to import coal to meet power demand in summer

Anticipating high demand for power in the ensuing summer, the power utilities in the State are exploring ways to stock necessary coal by importing, procure power from central generating stations and gas generators, and generate hydel power to ensure uninterrupted power. The officials are looking at procuring the fuel to an extent of three lakh metric tonnes (MT) by December, six lakh MT by end of January 2020, and nine lakh MT by end of March as the distribution companies (Discoms) expect a higher grid demand between February and June. ...

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Baltic Dry Index falls to 1304, down 34 points

Today, Tuesday, November 19 2019, the Baltic Dry Index decreased by 34 points, reaching 1304 points.

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Baltic index touches 4-1/2 month low on sluggish vessel demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a more than four-and-a-half month low on Monday, hurt by weaker rates across all vessel segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 19 points or 1.4%, to 1,338, its lowest since June 26. The capesize index fell 32 points, or 1.21%, to 2,603 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased by $340 to ...

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Baltic Dry Index falls to 1338, down 19 points

Today, Monday, November 18 2019, the Baltic Dry Index decreased by 19 points, reaching 1338 points.

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China cautious on US soybean imports

Chinese private soybean processors purchased about five cargoes from the US this week, people familiar with the deals said, less than what was expected by the market. The private crushers in the world’s biggest soybean importer bought the cargoes for next month and January shipment, said the people, who asked not to be identified as the matter is private. Despite Beijing issuing waivers for retaliatory tariffs on some US beans, the pace of purchases has been disappointing the market. US soybeans on Friday closed at US$9.18 per bushel, down 1.4 ...

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