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Baltic Index Inches Up on Rising Capesize Rates
The Baltic Exchange's main sea freight index edged up on Friday, helped by rising rates for capesize vessels.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 11 points, or about 0.6%, to 1,710.The Baltic capesize index rose 54 points, or 1.8%, to 3,025.Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, was up by
Baltic Index Falls as Lower Vessel Rates Bite
The Baltic Exchange's main sea freight index fell on Wednesday, weighed by capesize rates hitting their lowest level in nearly a month and lower earnings at the panamax segment.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 46 points, or about 2.6%, to 1,696.The Baltic capesize index dropped 141 points, or 4.6%, to 2,941, touching its lowest level since June 17.Average daily earnings for capesiz
Baltic Index Slides on Lower Capesize Rates
The Baltic Exchange's main sea freight index fell on Tuesday weighed by falling rates for capesize vessels, while the panamax segment was flat following eight straight sessions of gains.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 50 points, or about 2.8%, to 1,742.The Baltic capesize index lost 169 points, or 5.2%, to 3,082, its lowest since June 17.Average daily earnings for capesizes, which
Baltic Index Snaps Streak of 7 Consecutive Weekly Gains
The Baltic Exchange's main sea freight index was unchanged on Friday, as gains in panamax and supramax vessel rates offset losses in capesize rates, although it was set for its first weekly decline in eight.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was flat at 1,810. For the week, the index shed 4.4%.The Baltic capesize index lost 53 points…
Baltic Index Snaps 4-week Winning Streak
The Baltic Exchange's main sea freight index inched down on Tuesday, snapping a 27-session winning streak, as capesize vessel rates fell for the second straight session and offset gains 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, fell 7 points, or 0.4%, to 1,949.The Baltic capesize index lost 103 points, or 2.5%, to 3,968, hitting its lowest since June 22.Average d
Baltic Index Posts 7th Straight Weekly Gain
The Baltic Exchange's main sea freight index rose to register a seventh straight weekly gain on Friday, as demand gained steam 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, rose 71 points, or 3.9%, to 1,894, climbing to its highest since mid-October 2019 and rising 8.3% for the week.Easing virus-led lockdowns in China have boosted demand for iron-ore…
Baltic Index Up for 24th Session
The Baltic Exchange’s main sea freight index rose for the 24th straight session on Wednesday, helped by a modest increase in capesize and supramax rates.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 4 points, or 0.2%, to 1,803.The index has gained 65.4% so far this year, driven by a recovery in demand for iron-ore from China as industrial activity picked up amid easing coronavirus-induced lockd
Baltic Index Sees Best Month on Record
The Baltic Exchange's main sea freight index edged higher on Tuesday, helped by gains in supramax and panamax vessel rates, and marked its best month on record.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 5 points, or 0.3%, to 1,799.The index surged about 257% in June, driven by a pick-up in iron ore demand from China, following the easing of coronavirus-led lockdowns in many countries.The Bal
Baltic Index Up for Sixth Straight Week
The Baltic Exchange's main sea freight index edged higher on Friday, helped by an uptick in rates for capesize and panamax vessels, and posted a sixth consecutive weekly gain.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 11 points, or 0.6%, to 1,749 and rose 12.5% this week.The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that s
Baltic Index Up for 20th Session on Stronger Vessel Demand
The Baltic Exchange's main sea freight index extended gains for a 20th straight session on Thursday, on firmer rates 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, gained 33 points, or 1.9%, to 1,738, its highest since October 30.The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that sapped demand for vessels.T
Baltic Index Hits Over 7-month High on Increasing Vessel Activity
The Baltic Exchange's main sea freight index touched its highest level in more than seven months on Tuesday, as rates across all vessel segments rose on increasing trading activity.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 59 points, or 3.8%, to 1,617, its highest since November 5.The index has soared more than fourfold after slipping to a low of 393 points in May, when coronavirus-induced
Baltic Index Sees Best Day Ever—Again
The Baltic Exchange's main sea freight index marked its largest single-day percentage rise on Thursday, as capesize vessel segment rates jumped 50% on strong iron ore demand.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 281 points, or about 22.6%, to 1,527, its highest since Dec. 10.The Baltic capesize index jumped 1,217 points, or 49.6%, to 3,672, its highest since Sept.
Baltic Index Logs Record Jump as Capesize Demand Spikes
The Baltic Exchange's main sea freight index recorded its biggest ever daily percentage jump on Wednesday, propelled by surging capesize rates due to a spike in iron-ore shipments.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 192 points, or about 18.2%, to 1,246, its highest since Dec. 17.The Baltic capesize index jumped 601 points, or about 32.4% to 2,455, its highest since Dec.
Baltic Index Rises to Over 6-month High
The Baltic Exchange's main sea freight index rose to more than a six-month high on Tuesday, boosted by stronger demand for capesize and panamax vessels.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 81 points, or about 8.3%, to 1,054, its highest since Dec. 24.The Baltic capesize index jumped 206 points, or about 12.5% to 1,854, its highest since Dec.
Three of Five Converted VLOCs Are No Longer Operating -BIMCO
Converted very large ore carriers (VLOC) are increasingly becoming a thing of the past with the long-term freight contracts coming to an end as newer and more reliable ships replace them in the market. Since June 2017, 43% of the VLOC fleet have been sent to the scrapyards, while 18% of the fleet is idled or damaged.“The tragic Stellar Daisy accident brought the safety aspect of VLOCs into question.
COVID-19 Could Impact Indian Shipping
India’s shipping and ports industry is likely to be negatively impacted by the outbreak of coronavirus (COVID-19) across China and South-East Asia, according to…
Concern Over Trade Wars Impacts Shipping Confidence
Confidence in the shipping industry has fallen marginally over the past three months, largely as a result of ongoing concern over trade wars and increased regulation, according to the latest Shipping Confidence Survey from leading shipping adviser and accountant BDO.The average confidence level in the three months to May 2019 was 6.1 out of a possible maximum of 10.0. This is slightly down on the figure of 6.2 recorded in February 2019.Confidence was up in Asia…
Brazilian Soya Bean Exports Soar
According to a research note from BIMCO, Brazilian soya bean exports are up 85.2% in the first two months of 2019, this following a record high exports in 2018 of 83.6 million tonnes, which was a 22.7% increase from 2017.According to BIMCO, 2019 has seen the highest ever export of soya bean during the month of February. Exports totaled 6.1 million tonnes, a 112.6% increase from the 2.9 million tonnes exported in February 2018.
Global Shipping Rates Slump
Freight rates for dry-bulk and container ships, carriers of most of the world's raw materials and finished goods, have plunged over the last six months in the latest sign the global economy is slowing significantly.The Baltic Dry Index, measure of ship transport costs for materials like iron ore and coal, has fallen by 47 percent since mid-2018, when a trade dispute between the United States and China…
Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019
Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer.