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Sea Freight News

05 Mar 2024

Baltic Dry Index Ticks Down as Capesize Losses Offset Gains in Smaller Vessels

© Daniel / Adobe Stock

The Baltic Exchange's dry bulk sea freight snapped a 12-session winning streak on Tuesday, as pressure from lower capesize rates outweighed gains in smaller vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 0.3% at 2,291 points.The capesize index .BACI snapped its nine-session rising streak, shedding 57 points, or 1.4%, to 4,148.Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal…

04 Mar 2024

Houthi Attacks Having Limited Impact on Israeli Trade, Prices - Ministry

Attacks by Yemen's Iran-backed Houthis on cargo ships in the Red Seas are having limited effect on trade to Israel and have not led to any significant inflationary pressures, Israel's Finance Ministry said in a report on Monday.Houthi militants have repeatedly launched drones and missiles against international commercial shipping in the Gulf of Aden since mid-November, saying they are acting in solidarity with Palestinians against Israel's military actions in Gaza.Their Red Sea attacks have disrupted global shipping…

13 Feb 2024

Dry Bulk Vessel Rates on the Rise

© cloudvisual / Adobe Stock

The Baltic Exchange's dry bulk sea freight index rose for a third straight session on Tuesday to hit a one-month peak, as rates climbed across larger vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 13 points, or 0.8%, at 1,585 points, its highest since Jan. 10.The capesize index also scaled a one-month high. It added 23 points, or 0.9%, at 2,476 points.Average daily earnings for capesize vessels, which typically transport 150…

22 Jan 2024

Red Sea Shipping Attacks Pressure China's Exporters

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For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen's Iran-aligned Houthi movement escalated attacks on shipping."The disruptions have wiped out our already thin profits…

18 Jan 2024

Baltic Dry Index Snaps Eight-day Losing Streak

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The Baltic Exchange's dry bulk sea freight index snapped an eight-day losing streak on Thursday as rates increased across larger vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 49 points, or 3.8%, to 1,357.The capesize index rose by 120 points, or 6.9%, to 1,853.Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $990 to $15,365.Iron ore futures prices rebounded, aided by renewed hope of further stimulus from top consumer China following a speech

12 Jan 2024

Baltic Dry Index Marks Worst Week Since 2008

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The Baltic Exchange's dry bulk sea freight index slid on Friday as its worst week since 2008 came to an end with rates across vessel segments languishing at multi-month lows.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, lost 94 points, or 6.1%, to 1,460, its lowest level since Nov. 2. It shed more than 30% for its biggest weekly decline since 2008.The capesize index dropped by 252 points, or 10.4%, to 2,172, extending its losing streak to the fifth session and hitting its lowest since Nov.

09 Jan 2024

Baltic Dry Index Logs Biggest Fall in a Month

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The Baltic Exchange's dry bulk sea freight index fell on Tuesday to a nearly seven-week low in its worst showing in more than a month, as rates across vessel segments hit multi-week lows.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 147 points, or 7.3%, to 1,875, hitting a fresh low since Nov. 23.The capesize index dropped by 350 points, or 9.7%, to 3,249, also logging its biggest daily fall since Dec. 7.Average daily earnings for capesize vessels…

03 Jan 2024

Baltic Dry Index Edges Down as Demand for Smaller Vessels Slips

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The Baltic Exchange's dry bulk sea freight index eased on Wednesday, as falling rates for panamax and supramax vessels overshadowed gains in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 2 points, or 0.1%, at 2,091.The capesize index was up 85 points, or 2.4%, at 3,569, its highest in more than two weeks.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes such as iron ore and coal…

30 Nov 2023

Baltic Dry Bulk Index Doubles in November

Source: Baltic Exchange

The Baltic Exchange's dry bulk sea freight index .BADI gained for the sixth consecutive session on Thursday, more than doubling in November to hit an one-and-a-half year peak helped by mounting supply of tonnage and cargo demand.The overall index .BADI, which factors in rates for capesize, panamax, supramax shipping vessels, was up 241 points or 8.9% at 2,937.

20 Nov 2023

Weaker Capesize Rates Push Baltic Dry Index Lower

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dropped to snap a seven-session winning streak on Monday, weighed down by lower capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 3 points, or 0.2%, to 1,817.The capesize index lost 56 points, or 2%, to 2,707.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal…

17 Nov 2023

Strong Vessel Demand Lifts Baltic Dry Index to Second Weekly Gain

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The Baltic Exchange's dry bulk sea freight index rose on Friday and posted a second consecutive weekly gain on the back of stronger demand across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose to an over three-weeks high as it added 62 points, or 3.5%, to 1,820. It was up 10.8% this week.The capesize index added 99 points, or 3.7%, to 2,763. The index rose 6.8% for the week.Average daily earnings for capesize vessels…

10 Nov 2023

Baltic Index Logs Weekly Gain as Rates Across Vessels Rise

Credit: Kamchai/AdobeStock

The Baltic Exchange's dry bulk sea freight index rose on Friday, marking a weekly rise, steered by higher rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 45 points, or 2.8%, to 1,643. The index added 12.4% this week.The capesize index added 103 points, or 4.1%, to 2,589, up 21.4% for the week. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal…

10 Nov 2023

Ukraine Corridor Freight Costs Up after Missile Attack, Brokers Say

Credit: olyasolodenko/AdobeStock

Freight costs for ships using Ukraine's alternative export corridor have risen following an attack on a cargo vessel in the Black Sea off Odesa, brokers said on Friday.Ukrainian officials said on Wednesday a Russian missile damaged a Liberia-flagged civilian ship entering a Black Sea port in the Odesa region, killing one person and injuring four others. The vessel was supposed to transport iron ore to China.Later, they said that the corridor was working despite the attack. "As a result of a Russian missile hitting a cargo ship...

01 Nov 2023

Baltic Dry Index Falls for 10th Straight Session

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a tenth straight session to a near seven-week low on Wednesday, as rates fell across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 4% or by 58 points to 1,401.The capesize index declined 6% or 121 points to 1,899, its lowest in over one month.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, lost $999 to $15,751."We anticipate

23 Oct 2023

Baltic Dry Index Falls on Muted Demand for Capesize Vessels

© cloudvisual / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a third straight session on Monday, pressured by weaker rates in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 29 points, or 1.4%, to 2,017, its lowest in a week.The capesize index lost 83 points, or 2.3%, at 3,473.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, fell by $688 to $28,805.Dalian iron ore futures fell, d

16 Oct 2023

Australian Report Backs Coastal Shipping to Boost Supply Chain Security

David Michael (Source: WA Government)

A report into the security of Western Australia's supply chains has recommended policy and regulatory reforms to support Australian-owned shipping lines competing for domestic sea-freight work.The recommendation has been made in a report by the Western Australian (WA) Government's Shipping and Supply Chain Taskforce. Co-chaired by Kyle McGinn and Jessica Stojkovski, the Taskforce was established following the floods in South Australia in early 2022 that cut off supplies of essential…

16 Oct 2023

Inditex Partners with Maersk to Reduce its Maritime Transport Emissions

Zara Plaza de España, Madrid (Source: Maersk)

Inditex, parent company of fashion brands such as Zara and Massimo Dutti, has partnered with Maersk to reduce its global GHG footprint from seaborne logistics by incorporating alternative fuels in all its inbound routes with the carrier.Through the ECO Delivery Ocean program, Maersk replaces fossil fuels on its ships with green fuels like green methanol or second generation biodiesel based on waste feedstocks. This is expected to deliver an estimated reduction of more than 80% in GHG emissions compared to conventional sources.With ECO Delivery Ocean…

09 Oct 2023

Baltic Dry Index Hits One-year High

© Darunrat / Adobe Stock

The Baltic Exchange's main sea freight index rose to its highest in a year on Monday, helped by higher rates for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, climbed 3.2% to 1,991.The capesize index added 176 points, gaining 5.3% to 3,485 - its highest level since May 25, 2022.Average daily earnings for capesize vessels, which typically transports 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased by $1,456 to $28,901.Iron ore futures fell, with the Dalian benchmark hitting its lowest in nearly six

04 Oct 2023

Baltic Index Ticks Down as Panamax Losses Outweigh Capesize Gains

Credit: debjit/AdobeStock

The Baltic Exchange's main sea freight index edged down on Wednesday, as panamax rates hit a three-week low, offsetting a rise in capesize vessel rates.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged down by 2 points to 1,778.The capesize index added 28 points, or about 1%, to 2,801 - its highest level in more than a year.Average daily earnings for capesize vessels which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal…

03 Oct 2023

Baltic Index Hits Over 11-month peak on Capesize Strength

Credit: cloudvisual/AdobeStock

The Baltic Exchange's main dry bulk sea freight index rose to its highest in over 11-month on Tuesday, steered by robust demand in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, extended gains by rising 43 points, or 2.5%, to 1,780 - its highest level since Oct. 24, 2022.The capesize index, scaled an over 9-month peak, adding 163 points, or 6.3%, to 2,773.Average daily earnings for capesize vessels , which typically transports 150…

02 Oct 2023

Higher Capesize Rates Drive Baltic Index Higher

Credit: cloudvisual/AdobeStock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, aided by firm capesize rates. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, snapped a two-session losing streak after rising by 36 points, or 2.1%, to 1,737. The capesize index added 136 points, or 5.5%, to hit 2,610- its highest level in nearly five months. Average daily earnings for capesize vessels, which typically transports 150…

27 Sep 2023

Baltic Dry Index Scales 11-month Peak

© Lukasz Z / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose to an 11-month high on Wednesday, driven by robust capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 58 points, or about 3.4%, to 1,752, its highest level since Oct.

25 Sep 2023

Baltic Dry Index Rises to Over Four-month High

© Aufwind-Luftbilder / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose to its highest since mid-May on Monday, supported by gains in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 21 points, or 1.3% to 1,614, its highest level since May 10.The capesize index added 65 points, or 3.1% to 2,148, its highest level in over four months.Average daily earnings for capesize vessels…

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