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Dry Bulk Market

India plans deep cut in thermal coal imports in coming years

India plans to significantly reduce its thermal coal imports in “the next few years” to save foreign exchange and create jobs through the development of existing and new coal blocks, a senior official in the federal coal ministry said. Coal is among the top five commodities imported by India, the world’s largest consumer, importer and producer of the fuel after China. India spent 1.58 trillion rupees ($21.28 billion) on importing 247 million tonnes of coal, including 197 million tonnes of thermal grade, in the fiscal year to March 2020, M. ...

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Baltic index falls as rates drop across all segments

The Baltic Exchange’s main sea freight index edged lower on Wednesday, as rates declined across all vessel segments. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was down by 9 points, or 0.6%, at 1,509. The capesize index fell 15 points, or 0.7%, to 2,278. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined $117 to $18,896. The panamax index was down 13 points, ...

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Iron ore fall headlines 17pc drop in exports to China

Exports to Australia’s largest customer, China, declined $2.46 billion or 17 per cent to $11.7 billion in July but increased to the United States and Britain. Iron ore exports to China fell 12 per cent or $1.11 billion to $8.12 billion, while coal exports to the country fell 42 per cent or $653 million. Preliminary figures from the Australian Bureau of Statistics show the overall value of exports declined by $1.96 billion or 6 per cent to $29.1 billion. “The fall in iron ore exports took us by surprise, but ...

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Baltic Dry Index falls to 1,509, down 9 points

Today, Wednesday, August 26 2020, the Baltic Dry Index decreased by 9 points, reaching 1509 points.

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China’s soybean imports from Brazil surge in July on good margins

China’s soybean imports from top supplier Brazil surged in July from a year ago, customs data showed on Tuesday, as cargoes bought on the cheap in recent months arrived in the country. The world’s top soybean buyer brought in 8.18 million tonnes of the oilseed from Brazil in July, where prices have been cheap due to ample production, data from the General Administration of Customs showed. That was up 27% from 6.42 million tonnes in July 2019, but lower than the record 10.51 million tonnes of soybeans imported from the ...

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Baltic index rises as rates improve for capesize vessels

The Baltic Exchange’s main sea freight index rose on Tuesday, as higher rates for capesize vessels offset a fall in panamax and supramax segments. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 27 points, or 1.8%, at 1,518. The capesize index rose 86 points, or 3.9%, to 2,293. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, rose by $708 to $19,013. However, ...

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Jinhui Shipping Reports First Half Net Loss of $23.5 Million as the Pandemic Takes a Toll on the Dry Bulk Market

The Board of Jinhui Shipping and Transportation Limited (the ‘Company’) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the ‘Group’) for the quarter and six months ended 30 June 2020. In the first half of 2020, the very unexpected and unfortunate outbreak of the COVID-19 was regarded as posing moderate public health risk to start off with, but as the velocity at which the virus spread exceeded experts’ expectations, the World Health Organization (‘WHO’) declared COVID-19 outbreak as pandemic in March 2020 as ...

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Iron ore arrivals at Chinese ports fell 280,000 mt on week

A total of 89 vessels carrying 14.53 million mt of iron ore arrived at major Chinese ports during August 16-22, SMM estimates. This was down 280,000 mt from the prior week, but up 1.34 million mt from the same period last year. SHANGHAI, Aug 25 (SMM) – A total of 89 vessels carrying 14.53 million mt of iron ore arrived at major Chinese ports during August 16-22, SMM estimates. This was down 280,000 mt from the prior week, but up 1.34 million mt from the same period last year. The ...

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Kernel became the first company in the history of Ukraine to export 8 million tons of grain

According to the results of the 2019/2020 marketing year, Kernel has exported 8 million tons of grain crops. It’s a new historic high for both the company and Ukraine, as not a single agriexporter has ever reached this level. “Kernel became the operator with the largest transshipment volumes of grain in Ukrainian ports in the 2019/2020 marketing year,” Kernel CEO Ievgen Osypov said. “During the last two years the company has doubled export volumes, increasing its market leadership. Kernel’s share in total grain exports from Ukraine has grown from 11.6% ...

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Baltic Dry Index climbs to 1518, up 27 points

Today, Tuesday, August 25 2020, the Baltic Dry Index climbed by 27 points, reaching 1518 points.

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Coal Market Shifting

Russia is still a major player in the coal market, while Southeast Asian economies are now the main drivers of demand for the fuel. In a recent weekly report, shipbroker Banchero Costa said that “coal mining has been a key industry in Russia for a long time and its role will be no less significant in the future as the world change into renewable power generation. Nevertheless, the structure of Russia’s coal trade is evolving. In the first 9 months of 2019, based on Refinitiv vessel data, Russia exported 132.7 ...

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Baltic index rises on higher capesize rates

The Baltic Exchange’s main sea freight index inched up on Monday, as a jump in capesize rates offset lower prices for panamax vessels. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 10 points, or 0.7%, at 1,491. The capesize index rose 47 points, or 2.2%, to 2,207. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, rose by $387 to $18,305. However, the ...

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Baltic Dry Index climbs to 1491, up 10 points

Today, Monday, August 24 2020, the Baltic Dry Index climbed by 10 points, reaching 1491 points.

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China’s imports of wheat, soybeans rise in Jan.-July

China’s imports of wheat and soybeans rose in the first seven months of the year, a spokesperson of the Ministry of Commerce said. In the January-July period, China imported 4.28 million tonnes of wheat worth 1.22 billion U.S. dollars, up 116.3 percent and 108.9 percent, respectively, from a year earlier, according to spokesperson Gao Feng, citing customs data. The rise in wheat imports was driven by higher domestic demand for high-quality wheat, he said. In the same period, China imported 55.13 million tonnes of soybeans worth 21.4 billion dollars, representing ...

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Dry Bulk Market: Capesize Segment Enters Correction Mode After Recent Rally

Capesize The capesize market took a southerly direction this week to settle at $17,918, down -$1,998 week on week. While the market isn’t moving in large increments, its direction got clearer as the week progressed. Brazil to China C3 trading activity saw numerous vessels snapped up and while the market anticipated a value lift, rates responded with indifference. Strong tonnage flows met the demand and it was soon evident that sentiment was not confident of a push. The Pacific basin provided little to support the market this week despite iron ...

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