Iron ore futures prices rose to a more than one-week high on Thursday, buoyed by top producer Rio Tinto’s optimistic demand outlook for top consumer China and continued hopes of more stimulus from the world’s second-largest economy. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.35% higher at 783.5 yuan ($108.28) a metric ton. The contract hit an intraday high of 790.5 yuan, its strongest level since July 23. The benchmark September iron ore SZZFU4 on the Singapore Exchange was 1.91% higher at ...

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, reported a net loss of $2.8 million and a net loss attributed to common stockholders of $4.2 million for the second quarter of 2024. This compares to net income of $10.4 million and net income attributed to common stockholders of $8.9 million for the second quarter of 2023. Loss per share for the second quarter of 2024 was $0.04 basic and diluted, compared to earnings per share of $0.09 basic and diluted ...

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dipped for the ninth straight session on Wednesday as rates for all vessel segments weakened. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 54 points, or 3.1%, to 1,708, hitting its lowest level since May 1. The capesize index fell 122 points, or 4.9%, to 2,377, slipping to a three-month low. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore ...

Dalian iron ore futures closed slightly lower on Wednesday after drifting in a narrow range, as market participants weighed weak economic data from top consumer China against hopes of further monetary stimulus following a key Politburo meeting. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.13% lower at 768 yuan ($106.28) a metric ton. The benchmark September iron ore on the Singapore Exchange, however, was 1.57% higher at $100.65 a ton, as of 0725 GMT. Chinese leaders signalled on Tuesday that the stimulus ...

The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, slipped to its lowest level in three months on Tuesday, weighed down by lower rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 35 points, or 2%, to 1,762, hitting its lowest level since May 1. The capesize index fell 83 points, or 3.2%, to 2,499, declining for a eighth consecutive session. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, ...

Safe Bulkers, Inc. an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and six month periods ended June 30, 2024. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Management Commentary Dr. Loukas Barmparis, President of the Company, said: “Key developments of the second quarter, include the stronger market compared to the previous year, the implementation of our new integrated management system in compliance with DryBMS standards, the order of two ...

Iron ore futures retreated further on Tuesday as the outcome of China’s key Politburo meeting and the strong global supply outlook both weighed. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.77% lower at 756 yuan ($104.14) a metric ton. The benchmark August iron ore on the Singapore Exchange fell 3.08% to $98.75 a ton, its lowest since April 8, as of 0700 GMT. China will step up policy support for the economy, focusing on boosting consumption to expand domestic demand, the Politburo, ...

Russian July thermal coal exports to South Korea outpaced Colombian supply for the first time in two months as elevated freight costs and supply disruption hampered Colombian exports. Following the South Korean government’s decision to restrict state-owned power-generating companies from importing Russian thermal coal from the spot market towards the end of 2023, Russian exports lost ground to Colombian thermal coal supply in recent months. However, heavy rainfall in Colombia since last month, which disrupted production, along with elevated freight costs between the Atlantic and the Asia-Pacific region led to ...

The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, declined for a seventh consecutive session on Monday, weighed down by weaker rates for the capesize vessel segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 11 points, or 0.6%, to 1,797, hitting its lowest level since May 29. The capesize index fell 32 points, or 1.2%, to 2,582, its lowest level in over two months. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, ...

Dalian iron ore futures prices pared earlier losses on Monday, buoyed by better-than-expected industrial data and hopes of stimulus measures from top consumer China this week, although adverse weather conditions capped gains. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.06% higher at 780.5 yuan ($107.59) a metric ton. The benchmark August iron ore SZZFQ4 on the Singapore Exchange, however, was 0.26% lower at $101.9 a ton, as of 0720 GMT. China’s industrial profits grew at a faster clip in June, official data ...

Capesize The Capesize market experienced a steady decline this week, with the BCI 5TC falling from $24,521 on Monday to $21,676 by Friday. The Atlantic saw significant fixing activity, particularly from South Brazil to China, but an oversupply of tonnage in ballast and weakening demand led to a softening trend. The C3 index dropped from $25.97 on Monday to $24.69 by Friday. There were some signs of potential improvement in the North Atlantic with new cargoes being noted, but the overall sentiment remained bearish. In the Pacific, despite disruptions from ...

This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore , metallurgical coal, copper , alumina , cobalt , lithium , nickel and steel and scrap . We also explore what the next few months could bring, from supply and demand shifts to new arbitrages, and to quality spread fluctuations. The seaborne metallurgical coal market will likely remain rangebound in the third quarter as ample cargo supplies offset the fears of ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended its losing streak to a sixth straight session on Friday, dragged down by declining rates for capesize shipping vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 26 points, or 1.4%, to 1,808, hitting its lowest level in nearly two months. The index dropped 3.6% for the week. The capesize index fell 82 points, or 3%, to 2,614, its lowest level since late May. Average daily ...

One of the standout commodity stories so far this year has been China’s demand for thermal coal, with the world’s largest importer seeing record shipments arriving in the first half. China’s imports of thermal coal from the seaborne market, used mainly to generate electricity, were 168.73 million metric tons in the first six months of the year, up 8.5% from 155.51 million in the same period in 2023, according to data compiled by commodity analysts Kpler. This was the strongest first half in China’s history and puts the world’s second-biggest ...

Dalian iron ore futures snapped a three-session slide on Friday buoyed by fresh stimulus from top consumer China, but posted a weekly loss amid concerns about demand from the ailing property sector. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.5% higher at 779 yuan ($107.45) a metric ton. The contract was down 2.75% on a weekly basis. The benchmark August iron ore SZZFQ4 on the Singapore Exchange was 1.94% higher at $101.85 a ton, as of 0715 GMT. It has fallen 4.41% ...