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Dry Bulk Market

Baltic index logs weekly gain on strong vessel rates

The Baltic Exchange’s dry bulk sea freight index strengthened to hit an over two-month peak on Friday and posted a weekly gain, as rates across all vessel segments pushed higher. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 92 points, or 4.4%, at 2,203 points, its highest since Dec. 19. The index was up 18% for the week. The capesize index gained 234 points, or 6.3%, to 3,977, an eleven-week high, to post a 26% weekly rise. Average daily earnings for capesize ...

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Iron ore falls for second straight week on soft China data, doubts around stimulus

Iron ore futures slid on Friday, logging their second weekly loss, amid weak factory data and mounting doubts on whether policymakers in top consumer China will unveil bold policies to help its economy. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.75% lower at 871.5 yuan ($121.09) a metric ton, posting a fall of 3.6% week-on-week. The benchmark April iron ore on the Singapore Exchange slipped 1.55% to $113.3 a ton, as of 0801 GMT, the lowest since Oct. 24, 2023. It also ...

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Baltic Dry Index climbs to 2203 up 92 points

Today, Friday, March 01 2024, the Baltic Dry Index climbed by 92 points, reaching 2203 points.

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Weaker Spot Markets Impact Grindrod Shipping’s Results

Grindrod Shipping Holdings Ltd., a global provider of maritime transportation services predominantly in the drybulk sector, today announced its second half (1) and full year 2023 earnings results for the period ended December 31, 2023. Financial Highlights for the Second Half of the Year Ended December 31, 2023 • Revenues of $201.2 million • Gross profit of $15.9 million • Loss for the period and attributable to owners of the Company of $10.9 million, or $0.56 per ordinary share • Adjusted net loss of $9.2 million, or $0.47 per ordinary ...

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Baltic Index Climbs To 10-Week High On Rising Vessel Rates

The Baltic Exchange’s dry bulk sea freight index extended gains on Thursday to hit an over two month peak, supported by rising rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 70 points, or 3.4%, at 2,111 points, its highest since Dec. 20. The capesize index gained 147 points, or 4.1%, to 3,743, an almost eight week-high. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $1,222 to ...

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Iron ore hemmed in tight range as investors reassess China demand prospects

Iron ore futures held in a tight range on Thursday as investors reassessed near-term demand prospects in top consumer China amid expectations of steel mills ramping up production despite lingering concerns about the property sector. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.17%lower at 892 yuan ($124.00) a metric ton. The benchmark March iron ore SZZFH4 on the Singapore Exchange was 0.46% higher at $116.55 a ton, as of 0700 GMT. Chinese developer Country Garden 2007.HK said on Wednesday a liquidation petition ...

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Baltic Dry Index climbs to 2111 up 70 points

Today, Thursday, February 29 2024, the Baltic Dry Index climbed by 70 points, reaching 2111 points.

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Baltic index hits near 2-month high on strong vessel rates

The Baltic Exchange’s dry bulk sea freight index extended gains on Wednesday to hit a nearly two-month high, supported by rising rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 142 points, or 7.5%, at 2,041 points, its highest since Jan. 5. The capesize index gained 372 points, or 11.5%, to 3,596, an over seven week-high. Average daily earnings for capesize vessels .BATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $3,086 to ...

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A decreasing trend in the number of ballasters to ECSA with a recent peak in the daily volume loaded

At the end of the month, there’s a notable upturn in the Capesize Brazil to N China route, with rates reaching new highs since the year’s outset. However, it remains uncertain whether this firmness will persist into March. Interestingly, despite signs of a stronger freight market sentiment, there’s a decrease in the growth of tonne days, particularly notable in the Handysize segment. Additionally, there’s a decrease in the number of ballasters for large vessel size categories, following several weeks of peaks lasting over a month. In the Panamax segment, there’s ...

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Dalian iron ore extends rise on renewed hopes of improving China demand

Dalian iron ore futures prices extended gains into a second consecutive session on Wednesday, helped by renewed hopes of demand recovery in top buyer China, following an improving steel market, although persistent worries about its embattled property market capped gains. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.08%higher at 889 yuan ($123.49) a metric ton. “Expectations of stronger construction activity grew. Domestic construction sites have reopened following the Lunar New Year holiday and are looking to take advantage of the better margins ...

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Golden Ocean Group Limited Reports Fourth Quarter Net Income of $57.5 Million

Golden Ocean Group Limited, the world’s largest listed owner of large size dry bulk vessels, announced its unaudited results for the three and twelve months ended December 31, 2023. Highlights Net income of $57.5 million and earnings per share of $0.29 (basic) for the fourth quarter of 2023, compared with net income of $28.7 million and earnings per share of $0.14 (basic) for the third quarter of 2023. Net income of $112.3 million and earnings per share of $0.56 (basic) for full year 2023, compared with net income of $461.8 ...

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India’s thermal coal imports seen falling for first time since pandemic

India’s thermal coal imports are expected to fall for the first time this year since the COVID-19 pandemic due to increasing domestic output and record high inventories, industry officials said on Tuesday. Out of eleven coal traders Reuters spoke with at the Coaltrans India conference in the western state of Goa, eight expected shipments of the fuel to decrease this year, while the others foresaw flat imports or marginal growth. Surging production and supplies by world’s largest miner Coal India COAL.NS have pushed stockpiles at power plants to record highs ...

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Baltic Dry Index climbs to 2041 up 142 points

Today, Wednesday, February 28 2024, the Baltic Dry Index climbed by 142 points, reaching 2041  points.

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Baltic index hits over 1-month high on sturdy vessel rates

The Baltic Exchange’s dry bulk sea freight index extended gains for an eighth straight session to touch 1-1/2 month peak on Tuesday, buoyed by climbing rates across all segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 28 points, or 1.5%, at 1,899 points, its highest since Jan. 8. The capesize index gained 61 points, or 1.9%, to 3,224. Average daily earnings for capesize vessels ATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $504 to $26,737. ...

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Iron ore rebounds on hopes of China demand recovery, potential Indian export tax

Iron ore futures rebounded on Tuesday, supported by hopes of demand recovery in top consumer China and a potential export tax on Indian low-grade iron ore, although lower steel production in the near-term capped gains. The most-traded May iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 1.24% higher at 897.5 yuan ($124.70) per metric ton. The benchmark March iron ore SZZFH4 on the Singapore Exchange was 1.75% higher at $117.45 a ton. India is considering an export tax on low-grade iron ore after small steel producers ...

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