Demand for second hand dry bulk carriers remained in high demand during the past week. In its latest weekly report, shipbroker Xclusiv said that “despite the northern hemisphere approaching the “heart” of the summer, dry bulk S&P activity remains robust. Chinese buyers were quite active on the Capesize sector this week. The “Cape Mathilde” – 179K/2010 Mitsui was sold for USD 30 mills to Chinese buyers, while the 2-year older Scrubber fitted “Genco Hadrian” – 169K/2008 Sungdong was sold for USD 25 mills. Moreover, Chinese buyers seem to have acquired ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Thursday as rates for the larger capesize vessel segment dropped to a nearly two-month low. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 30 points, or 1.6%, to 1,834, hitting its lowest level in more than six weeks. The capesize index fell 107 points, or 3.8%, to 2,696, its lowest level in nearly two months. Average daily earnings for capesize vessels, which typically transport 150,000-ton ...

This week’s chart highlights the notable increase in the monthly volume of Russian grain shipments during the first two quarters of this year. By the end of the second quarter, shipments had risen by 15% compared to the previous quarter. Notably, Egypt emerged as the leading destination for Russian grain, accounting for 20% of the total shipments this year. This marks a significant shift, as Turkey held the top spot last year with a 15% share. The shift in destination preferences underscores changing market dynamics and may reflect evolving trade ...

Iron ore futures prices lost further ground on Thursday, weighed by strong global supply and top consumer China’s persistently weak steel market, although hints of heavier monetary stimulus helped limit losses. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) fell for a fifth straight session to close daytime trade with a loss of 1.55% to 764.5 yuan ($105.50) a metric ton. The benchmark August iron ore SZZFQ4 on the Singapore Exchange dipped below the key psychological level of $100 a ton, falling 1.14% to $99.75 a ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was down on Wednesday for the fourth straight session, tracking a fall in rates for the large capesize shipping vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 5 points, or 0.3%, to 1,864, hitting its lowest level since June 12. The capesize index fell 51 points, or 1.8%, to 2,803, its lowest level in six weeks. Average daily earnings for capesize vessels, which typically transport 150,000-ton ...

Global coal demand is set to remain broadly unchanged in both 2024 and 2025 as surging electricity demand in some major economies offsets the impacts of a gradual recovery in hydropower and the rapid expansion of solar and wind, according to the IEA’s latest update on coal market trends worldwide. The world’s use of coal rose by 2.6% in 2023 to reach an all-time high, driven by strong growth in China and India, the two largest coal consumers globally, the IEA’s Coal Mid-Year Update finds. While coal demand grew in ...

Dalian iron ore futures prices fell for the fourth consecutive session on Wednesday, weighed down by a weakening steel market and lingering concerns about demand in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.65% lower at 775.5 yuan ($106.61) a metric ton. The contract hit a low of 771.5 yuan a ton earlier in the session, its weakest level since April 8. The benchmark August iron ore on the Singapore Exchange, however, was 0.21% higher at $100.8 a ton, ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, slipped to its lowest level in more than a month on Tuesday as rates for the capesize vessel segment fell. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 27 points, or 1.4%, to 1,869, hitting its lowest level since June 12. The capesize index fell 103 points, or 3.5%, to 2,854, lowest level in over a month. Average daily earnings for capesize vessels .BATCA, which typically transport ...

China’s first cut to major short- and long-term interest rates in 11 months drew a distinctly ho-hum reaction from the commodities that usually would be expected to be the biggest beneficiaries. The People’s Bank of China said on Monday it would cut the seven-day reverse repo rate to 1.7% from 1.8%, and minutes after that announcement benchmark lending rates were lowered by the same margin at the monthly fixing. But the first broad reduction in interest rates since last August sparked little buying interest in iron ore and copper, the ...

Iron ore futures fell to their lowest in more than three months on Tuesday, as a lack of stimulus from top consumer China’s third plenum fanned prospects of bleak demand. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 3.43% lower at 774.5 yuan ($106.47) a metric ton, its lowest since April 8. The benchmark August iron ore SZZFQ4 on the Singapore Exchange fell 3.36% to $100.0 a ton as of 0720 GMT, also its lowest level since April 8. Iron ore’s persistent ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was down on Monday as the rates for capesize and panamax vessels fell. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 6 points, or 0.3%, to 1,896. The capesize index fell 16 points, or 0.5%, to 2,957. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, were down $131 at $24,521. Prices of iron ore futures edged lower as ...

The IMO’s enforcement of EEXI and CII regulations from January 1, 2023 marks a significant step in reducing greenhouse gas emissions from the maritime industry. As the regulations become stricter and the major impact expected post-2024, shipowners must proactively monitor and enhance their fleet’s emission profiles to ensure the commercial viability of their vessels. A gradual shift towards alternative-fuel capable dry bulk vessels is gaining momentum, with an 11% share in the current orderbook, and deliveries expected to peak in 2026-2027. The Energy Efficiency Existing Ship Index (EEXI) and carbon ...

China’s imports of major commodities are often viewed through the prism of the performance of, and outlook for, the world’s second-biggest economy. But it’s probably more important to look at price trends when assessing the world’s biggest commodity importer’s inbound shipments of crude oil, liquefied natural gas (LNG), copper, iron ore and coal. The diverging fortunes of imports of these commodities in the first half of 2024 align more closely with price movements than it does with economic performance. This is especially the case for iron ore, the key raw ...

Ukraine’s grain exports through the Romanian Black Sea port of Constanta fell by 43.5% on the year in the first half to 4.24 million metric tons, the port authority said, as Kyiv has been able to rely on its own ports this year. Constanta port had been Ukraine’s main alternative route for grain since Russia’s full-scale invasion in 2022 and the port has seen an influx of European Union investment funds aimed at increasing its capacity. Grain arrives in Romania by road, rail and barge across the Danube river and ...

Prices of iron ore futures edged lower on Monday as investors and traders assessed mixed market signals from top consumer China following the end of its widely watched third plenum. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.31% lower at 798.5 yuan ($109.79) a metric ton. The benchmark August iron ore contract SZZFQ4 on the Singapore Exchange fell 0.83% to $103.65 a ton, as of 0710 GMT. China lowered a key short-term policy rate and its benchmark lending rates in an attempt ...