The Baltic Exchange’s dry bulk sea freight index rose to more than a week high on Thursday, supported by gains in the larger vessel segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, added 86 points or 5.1% to 1,774, hitting its highest level since April 23. The capesize index gained 256 points, or 12.1% to 2,372. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes of iron ore and coal, among others, increased $2,117 to $19,670. Iron ore and steel futures ...

Market participants in the East Coast South America region maintained a slightly bearish tone for the Atlantic Panamax dry bulk market amid concerns on deteriorating fundamentals, citing an oversupply of ships despite a healthy cargo book extending through May. The ECSA region is a crucial support pillar within the Atlantic Panamax dry bulk market during the peak grain season. Grain flows remain robust The April 2024 BIMCO Dry Bulk Shipping Market Overview highlighted concerns over recent cancellations of grain shipments by China, prompting a growing apprehension about demand. Early signs, ...

The Baltic Exchange’s dry bulk sea freight index edged up on Wednesday, buoyed by an uptick in capesize and panamax vessel rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, ticked up to 1,683. The capesize index .BACI gained 16 points, or 0.8% to 2,116. The index was still hovering around a 3-month low. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes of iron ore and coal, among others, increased $138 to $17,553. “Cargo injections have been low, and the outlook ...

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, was mostly unchanged on Tuesday as gains in capesize countered weakness in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged higher to 1,685. The capesize index gained 20 points, or about 1%, to 2,100. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes of iron ore and coal, among others, increased $162 to $17,415. Iron ore and steel futures fell amid risk-off sentiment ...

Australia shipped more coal to China than Japan in April, the first time this has happened in any month in more than four years, underscoring shifting market dynamics and an improved political relationship with Beijing. Australia’s exports of all grades of coal to China were 6.87 million metric tons in April, up from 6.83 million in March and the highest since November, according to data compiled by commodity analysts Kpler. Shipments of coal to Japan from Australia were 6.10 million tons in April, down from 7.93 million in March and ...

Iron ore and steel futures fell on Tuesday amid risk-off sentiment ahead of a Chinese public holiday, but most contracts posted monthly gains on the back of better demand outlook from the property sector. The most-traded September iron ore on China’s Dalian Commodity Exchange (DCE) closed down 0.1% at 874 yuan ($120.65) per metric ton. Still, it rose 16.6%this month, the best gain since June 2023. The benchmark May iron ore on the Singapore Exchange was down 0.6% at $116.50 a ton at 0706 GMT. The contract has gained 16% ...

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the three month periods ended March 31, 2024. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Dr. Loukas Barmparis, President of the Company, said: “During the first quarter of 2024, we operated in a relatively stronger market compared to the previous year. Having comfortable liquidity and leverage, and consistent with our ESG strategy, we placed an additional order for a Phase ...

Brazil’s grain exports will pick up in the second half as soy and corn supplies increase despite a drought in the center-west earlier, Cargill’s Brazil President Paulo Sousa said. Citing a positive outlook for soy in the Matopiba region and in Rio Grande do Sul, Brazil’s southernmost state, Sousa said in an interview that soy output projections may be revised upwards. “Our view is that the soybean harvest is not that much worse than last year,” Sousa said as Cargill released results for its Brazilian operation. Brazil’s soy production in ...

The Baltic Exchange’s dry bulk sea freight index fell on Monday, hurt by weaker demand across all vessel segments, with rates for capesize vessels hitting its lowest level in nearly three months. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 37 points, or 2.2%, to 1,684. The index was down for the sixth consecutive session. The capesize index shed 92 points, or 4.2%, to 2,080, marking its lowest level since Feb. 2. Average daily earnings for capesize vessels, which typically transports 150,000-ton ...

Iron ore futures prices fell on Monday after weak industrial data in top consumer China and the completion of of pre-holiday restocking by steelmakers ahead of May Day. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.51% down at 874.50 yuan ($120.69) a metric ton, having risen by more than 14% this month. Benchmark May iron ore SZZFK4 on the Singapore Exchange was down 0.55% at $117.20 a ton by 0908 GMT. China’s industrial profits fell in March and slowed gains for the ...

Capesize The Capesize market endured a challenging week, marked by persistent negativity across both the Pacific and Atlantic regions. The week commenced sluggishly, with the BCI 5TC dropping by $1,133 on Monday, setting a negative tone. Conditions generally deteriorated in both regions, with decreased rates and limited activity, reflecting softer market sentiment. However, the level of activity picked up during the course of the week, particularly in the pacific, with all of the miners active, although the negative trend continued, albeit with a slight slowing in the rate of decline. ...

In March, the Drewry Dry Bulk Equity Index declined 3.9% and underperformed the S&P 500, which rose 2.3% during the same time. However, the trend reversed in April and the index jumped 10.4% (as of 18 April) and outperformed the S&P 500 which declined 4.4%. This uptick was primarily driven by the completion of the merger between Star Bulk and Eagle Bulk. The merger resulted in a significant increase in Star Bulk’s market capitalization, which led to a rise in the overall index. • Despite a robust demand for coal ...

The Baltic Exchange’s main sea freight index declined on Friday, marking a weekly drop on the back of weaker demand in the larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 22 points, or 1.3%, to 1,721 points, its lowest level in over two weeks. The index was down above 10% for the week. The capesize index shed 58 points, or 2.6%, to 2,172, marking its lowest level since April 10, declining for the sixth straight session. The index registered ...

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth consecutive session on Thursday, pressured by lower rates for the larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 31 points, or 1.8%, to 1,743 points. The capesize index shed 115 points, or 4.9%, to 2,230, marking it lowest level since April 10. Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased ...

We expect the supply/demand balance to strengthen in 2024 and weaken in 2025. Supply is estimated to grow by 2-3% in 2024 and 1.5-2.5% in 2025, while demand is projected to grow by 2.5-3.5% in 2024 and stagnate in 2025. Overall, conditions in the dry bulk market should stay strong in 2024 but could begin to weaken in 2025. Since September 2023, the Baltic Dry Index has firmed on stronger capesize demand. Strong cargo volumes including higher iron ore shipments from Brazil and a build-up of iron ore inventories in ...