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Dry Bulk Market

Grain Traders Oppose Brazil’s Soy Ban To Protect Savannah

Global grain traders are against banning soy purchases from newly deforested areas of Brazil’s savannah region, that would duplicate a similar moratorium in place for the Amazon rainforest, an industry association said. “There is no intention of doing this,” Lucas Brito, executive assistant at grain exporters group Anec, told Reuters on the sidelines of an industry conference in Campinas. Anec represents major grain traders including Archer Daniels Midland Co, Cargill Inc, Cofco, Louis Dreyfus Corp, Glencore and others. Brito’s comment comes two days after Brazilian farmers said they would launch ...

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Baltic Dry Index falls to 1345, down 33 points

Today, Monday, November 11 2019, the Baltic Dry Index decreased by 33 points, reaching 1345 points.

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Dry Bulk Market: Capesizes on the Downside Once More

Capesize Over the past week the Capesize market has broken out of its recent range bound zone to the downside. It has now dropped below the $20,000 level on 5TC, which hasn’t been seen since early July. With ample tonnage in the ballaster line-up, and minimal market cargoes seen out Brazil, the C3 market was seen to shed more than $2, settling at $18.002 by Friday. In the Pacific Basin, the C5 market initially lifted strongly early on in the week, but it too was seen to collapse by mid-week ...

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China is Likely to Cap Annual Coal Imports at 300 Million Tons

China will likely hold annual coal imports at between 200 million and 300 million tons, according to the president of a top industry body, suggesting that the pace of shipments so far in 2019 could tail off in the last two months and establishing a cap on expectations for subsequent years. Imports at this level are necessary to supplement domestic miners and maintain balanced trade with exporting nations, Yang Xianfeng of the China Coal Transportation & Distribution Association told a conference in Shanghai on Saturday. China last exceeded the upper ...

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Coal imports at major ports slip 18% to 51 MT in April-October: Report

Thermal coal imports declined by 17.69 per cent to 51.10 million tonnes at the country’s top 12 major ports during April-October this fiscal, latest Indian Ports Association report has said. The Centre-owned ports had handled 62.08 MT of the thermal coal in the same period previous year. The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report said “percentage variation from previous year” in thermal coal handling was at 17.69 per cent. As far as coking and other coal is concerned, its ...

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China iron ore port stocks continued to fall on limited arrivals

Inventories of iron ore across Chinese ports declined by a smaller margin this week, as arrivals remained limited while demand weakened. SMM data showed that iron ore stocks across 35 Chinese ports decreased by 350,000 mt from a week ago to 116.45 million mt as of November 8, after a drop of 2 million mt in the prior week. This was 14.38 million mt lower than a year ago. Demand weakened this week, with the daily average iron ore deliveries from those ports falling 117,000 from the prior week to ...

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China books deal to buy 136,000 tonnes of US soyabeans: USDA

China bought 136,000 tonnes of US soyabeans, the US Agriculture Department said, as optimism about a trade deal between the world’s two largest economies boosted global markets. The deal – about two cargoes worth of soyabeans – was the first flash sale of US agriculture products to China since Nov. 1 and comes as the Chinese commerce ministry said the two countries have agreed to cancel in phases the tariffs imposed during their months-long trade war, without specifying a timetable. Weekly export data also showed that China booked its first ...

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Baltic index down for 9th session on weaker demand for larger vessels

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for a ninth straight session on Friday, on weaker demand for capesize and panamax vessel segments. * The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.5%, to 1,378. * The index was down 18.8% for the week, its biggest weekly decline since February. * The capesize index was down by 73 points, or 2.9%, to 2,444, its lowest since June 26. * The index was ...

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China iron ore imports slip in Oct for first time in four months

China’s iron ore imports in October fell for the first time in four months, customs data showed on Friday, as shrinking profit margins reduced demand for the raw material at steel mills. Arrivals of iron ore, a key steelmaking raw material, were at 92.86 million tonnes last month, according to data from the General Administration of Customs. That was down 6.5% from 99.36 million tonnes in September but up from 88.40 million tonnes brought in a year earlier. For the first ten months of the year, the world’s top iron ...

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Delayed U.S. soybean cargo booked under waiver offloads, worries linger

A cargo of American soybeans booked in the hope it would be exempt from tariffs has been offloaded in China after about a one-week delay due to a dispute between the buyer and customs officials over duty payments, said two sources briefed on the matter. The cargo, bought by state-owned Jiusan Group, had been sitting at a port in northeastern China for about a week after customs demanded payment of the 33% duties on U.S. soybeans, according to the two sources and another trader who has spoken to Jiusan about ...

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China iron ore slumps nearly 3% on winter steel demand outlook

Iron ore futures in China touched a three-week low on Friday and posted their second consecutive weekly decline, as prospects of tepid steel demand over winter weighed on prices of the key steelmaking raw material. Dalian Commodity Exchange’s most-traded iron ore contract, with January 2020 expiry, finished 2.8% lower at 600 yuan ($85.95) a tonne, after hitting 599.50 yuan just before the trading ended, its weakest since Oct. 18. On the Singapore Exchange, the front-month December contract was down 2.2% at $78.58 a tonne, as of 0720 GMT. “Steel demand ...

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Baltic Dry Index falls to 1378, down 50 points

Today, Friday, November 08 2019, the Baltic Dry Index decreased by 50 points, reaching 1378 points.

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Dry Bulk Market’s Third Quarter Rebound, Boosts Pioneer Marine’s Financial Results

Pioneer Marine Inc. and its subsidiaries, a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the quarter ended September 30, 2019. Torben Janholt, Chief Executive Officer commented: “After a challenging first half of 2019 the drybulk markets bounced back in the third quarter of the year mainly led by improvements in the Capesize sector. The positive sentiment affected smaller sizes as well, and with an increase in minor bulk trades our handysize vessels benefited well. Pioneer achieved a net profit of $3 ...

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Dry Bulk Market: Bearish Sentiment Prevails Once Again

The dry bulk market seems to be settling down to yet another bearish period, after third quarter’s rebound. In its latest weekly report, shipbroker Allied Shipbroking noted that “with the dry bulk market having shown a gradual downward correction over the past couple of weeks, a gradual pessimism seems to be creeping back into the market. Yet, when you look at the numbers a bit more closely it seems as though the market has been plagued by a bearish outlook for some time now, while few seem to have been ...

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BHP says it is unaffected by sanctions on China’s COSCO

The sanctions imposed by the United States on subsidiaries of Chinese state-owned group COSCO have not affected the world’s biggest dry bulk shipper BHP , the mining company said, after carrying out due diligence to check. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington imposed sanctions on Chinese companies in late September for alleged involvement in moving crude oil from Iran. COSCO Shipping Tanker (Dalian), a subsidiary of China’s state-owned shipping group COSCO, was one of the companies ...

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