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Baltic Capesize News

23 Jun 2022

Seanergy Acquires Secondhand Capesize Bulker

Seanergy Maritime Holdings Corp. announced Thursday it has agreed to acquire a secondhand bulk carrier from a Japanese owner.The 180,000 dwt Capesize vessel, to be renamed Honorship, was built at a Japanese shipyard in 2010.It is expected to be delivered within June 2022 and will promptly begin operating on a 20-24-month charter to with NYK Lines at an index-linked rate at a significant premium over the Baltic Capesize Index, Seanergy said.Seanergy said it has the option to convert the daily hire from index-linked to fixed for a minimum period of two months to a maximum of 12 months based on the same premium over the prevailing Capesize Freight Futures Agreements (FFA) curve.Stamatis Tsantanis…

18 Nov 2021

Castor Maritime Announces New Charter Agreements

Cyprus-based shipping company Castor Maritime Inc. announced it has secured new charter agreements for several of its bulk carrier vessels.The 2010-built Panamax dry bulk carrier Magic Nova has been fixed on a time charter contract at a gross daily charter rate equal to 92% of the average of the Baltic Panamax Index 5TC routes. The charter commenced on November 17, 2021, and has a minimum duration of eleven months and a maximum duration of about fourteen months (+/- 15 days) at the charterer’s option.The 2006-built Capesize dry bulk carrier Magic Orion has been fixed on a time charter contract at a gross daily charter rate equal to 101% of the average of the Baltic Capesize Index 5TC routes.

28 Jul 2021

Seanergy Takes Delivery of 2009-built Bulk Carrier. Secures Charter with NYK Line

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Seanergy Maritime Holdings Corp. has taken delivery of the M/V Friendship bulk carrier.The vessel is a 176,952 dwt Capesize bulk carrier, built in 2009 by Namura Shipbuilding Co., Ltd. in Japan. "The M/V Friendship is the fifth Capesize delivery that Seanergy has successfully completed in 2021 to date," the company said.Seanergy also said that the has been fixed on a time charter with Japan's NYK Line, which is an existing charterer of Seanergy. The charter is expected to commence immediately…

19 Mar 2021

Seanergy Buys Two Secondhand Capesize Bulk Carriers

Greek headquartered shipowner Seanergy Maritime said it has entered reached a deal to purchase two Capesize bulk carriers for $55 million, growing its fleet to 14 Capesize vessels with an aggregate cargo capacity of approximately 2.5 million deadweight tons (dwt).The first vessel due to join the Seanergy fleet by the end of April 2021 has a cargo-carrying capacity of approximately 176,000 dwt and shall be renamed Flagship. The second, to be renamed Patriotship, is scheduled to be handed over by the end of May 2021 and has a cargo-carrying capacity of approximately 182,000 dwt. Both were built in Japan, in 2013 and 2010 respectively.Seanergy noted the special survey and ballast water treatment system installation for both vessels were completed recently by the current owners…

13 Aug 2020

Baltic Index Rises for 12th Straight Session

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The Baltic Exchange's main sea freight index rose for the 12th straight session on Thursday, helped by an uptick in demand for 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 up 37 points, or 2.4%, at 1,577, its highest since July 21.The Baltic capesize index rose 52 points, or 2.2%, to 2,384.Average daily earnings for capesizes, which typically transport cargoes of 170…

03 Aug 2020

Baltic Index Ticks Upward

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The Baltic Exchange's main sea freight index climbed on Monday, as demand for capesize and panamax vessels rose.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 35 points, or 2.6%, at 1,385.The Baltic capesize index rose 91 points, or 4.1%, to 2,297.Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were up $755 at $19,051.Futures of steelmaking ingredients in China rose on Monday, with iron ore posting its

29 Jul 2020

Baltic Index Snaps 7-day Losing Streak

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The Baltic Exchange's main sea freight index rose on Wednesday, after declining for seven consecutive sessions, as rates for larger capesize and panamax vessels bounced back after a series of declines.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 53 points, or 4.2%, to 1,317.The Baltic capesize index gained 145 points, or 7.3%, to 2,137.

23 Jul 2020

Baltic Index Hits Over One-month Low

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The Baltic Exchange's main sea freight index dropped to a more than one-month low on Thursday, dragged down by weakness 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, fell 85 points, or 5.8%, to 1,388, its lowest since June 17.The Baltic capesize index slumped 190 points, or 7.8%, to 2,236, its lowest in over a month.Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, declined by $1,578

17 Jul 2020

Baltic Index Inches Up on Rising Capesize Rates

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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 $446 at $25,085.Rising demand for iron ore from China, as the world's second-largest economy gradua

15 Jul 2020

Baltic Index Falls as Lower Vessel Rates Bite

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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 capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and co

14 Jul 2020

Baltic Index Slides on Lower Capesize Rates

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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 typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, was d

10 Jul 2020

Baltic Index Snaps Streak of 7 Consecutive Weekly Gains

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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, or 1.6%, to 3,333 and dropped 23.7% this week.Average daily earnings for capesizes…

08 Jul 2020

Baltic Index Snaps 4-week Winning Streak

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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 daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes,

03 Jul 2020

Baltic Index Posts 7th Straight Weekly Gain

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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, helping the index to gain 73.8% so far this year.The Baltic capesize index gained 176 points…

01 Jul 2020

Baltic Index Up for 24th Session

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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 lockdowns.China’s factory activity grew at a faster clip in June after the government lifted coronavirus

30 Jun 2020

Baltic Index Sees Best Month on Record

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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 Baltic capesize index, which had fallen to -48 in mid-May, eased 5 points, to 4,320.Average daily earni

26 Jun 2020

Baltic Index Up for Sixth Straight Week

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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 sapped demand for vessels.The Baltic capesize index inched up by 6 points, to 4,218, and recorded its

25 Jun 2020

Baltic Index Up for 20th Session on Stronger Vessel Demand

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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.The Baltic capesize index gained 24 points, or 0.6%, to 4,213, its highest since September 18.Average

23 Jun 2020

Baltic Index Hits Over 7-month High on Increasing Vessel Activity

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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 lockdowns hammered global trade and vessel demand."The still looming threat of a renewed lockdown in

19 Jun 2020

Chinese Demand Lifts Baltic Index to Record Weekly Gain

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The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry commodities around the world, posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up.The 35-year old index, which reflects rates for capesize, panamax and supramax ships, has now surged nearly 300% since tumbling to a low of 393 points in May following a freeze in global trade due to coronavirus-led lockdowns."Most…

18 Jun 2020

Baltic Index Sees Best Day Ever—Again

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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.

17 Jun 2020

Baltic Index Logs Record Jump as Capesize Demand Spikes

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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.

16 Jun 2020

Baltic Index Rises to Over 6-month High

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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.