Dry Bulk News

Norden has entered into an agreement to acquire Norwegian dry bulk operator Norlat Shipping, which specializes in the shipment of forest products and other bulk commodities.The acquisition, whose value was not disclosed, is subject to merger clearance.The acquisition will be Norden's second, following the mid-2023 acquisition of the activities of Thorco Projects, which is today fully integrated into Norden's Freight Services & Trading business unit.Norlat Shipping’s main trading…

Russia has shipped its first grain from a new terminal at the Baltic Sea port of Ust-Luga, the Russian agricultural watchdog told Reuters, as the country seeks to diversify its grain export routes.The first shipment of 12,000 metric tons of grain was made in June from the Lugaport terminal, owned by the Russian private transport company Novotrans. LSEG data showed the shipment is destined for Cuba.About 90% of all Russian grain exports go through the Black Sea terminals. Russia…

OrbitMI has launched its latest Data-as-a-Service (DaaS) offering, tailored specifically for maritime industry players in the dry bulk sector.The new product is said to deliver precise and timely data to support decision-making and boost operational efficiency across the maritime industry.The Vessel and Company Particulars product provides information on various vessel characteristics, enabling ship owners and operators to leverage up-to-date data for optimizing their technology stacks and enhancing performance."Our goal is to empower the industry with confidence through accessible…

A fire that destroyed a conveyor belt and electric systems at the Tiplam terminal in the port of Santos, Brazil's largest, caused a suspension of sugar loading on piers 2 and 3 on that terminal, according to a note from the company.The fire broke out on Thursday night on the site and was controlled on Friday morning. There were no victims, but the destruction of the conveyor belt stopped loadings in the berths, said the note to clients of VLI, the company managing the terminal.

Russia has started wheat shipments to Brazil from Vysotsky Port on the Baltic Sea, the quality inspection arm of Russia's agricultural watchdog said on Friday."Grain was shipped to Brazil from Russian Baltic Sea ports for the first time," the grain quality assessment centre said.It said a 31,000-ton shipment of wheat had undergone quality checks and was shipped at the start of June.The grain terminal at Vysotsky Port, 50 km (30 miles) from the Russian-Finnish border, started shipments in April 2023 with the first cargo going to Tunisia.

Great Lakes shipments of limestone rose and iron ore fell in the month of May, according to latest figures published by industry trade group the Lake Carriers' Association (LCA).Shipments of limestone on the Lakes totaled 3.9 million tons in May, an increase of 33.9% compared to a year ago. May’s loadings were also above the month’s 5-year average by 6%.Limestone loadings from U.S. quarries increased 42.2% compared to 2023 to 3.2 million tons, while shipments from Canadian quarries totaled 734…

Port worker unions in Argentina cut short a planned strike in grains shipping ports in the Rosario region following government-ordered talks, a union head said on Thursday, in welcome news for the country's farm exports.The area north of the city of Rosario along the Parana River is Argentina's main agricultural exports hub, where more than 80% of its processed soybeans, corn, wheat and other farm products are shipped to global markets.The FESIMAF maritime workers federation, which groups several unions…

The Baltic Exchange's dry bulk sea freight index extended its rally on Tuesday to hit its highest in more than six weeks, supported by a jump in the large vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, added 207 points, or 11.03%, to 2,083, touching its highest level since March 25."The dry bulk market has continued to outperform expectations...

The Baltic Exchange's dry bulk sea freight index fell on Friday to log its third straight weekly decline, weighed down by a dip in rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 41 points or 2.5% to 1,628 points, its lowest level in seven weeks.The index was down over 10% for the week.The capesize index was down by 80 points, or 3.4%, at 2,274. It logged a weekly rise of over 13%.Average daily earnings for capesize vessels…

Shipments of iron ore on the Great Lakes totaled 1.6 million tons in March, an increase of 25.5% compared to 2023, according to latest figures published by trade group the Lake Carriers’ Association (LCA). Loadings also topped the month’s 5-year average by 47.5%.  Year-to-date the iron ore trade stands at 4.4 million tons, an increase of 16.8% compared to a year ago. Iron ore shipments are 31.9% above their 5-year average for the first three months of the year.

The first "saltie" of the 2024 Great Lakes shipping season entered the Port of Duluth-Superior on Monday,Oceangoing vessels that visit the Great Lakes are called "salties".This year, the first to call the Port of Duluth-Superior is the Portuguese-flagged Barbro G, a 623-foot bulk carrier operated by Sweden’s Brochart KB, which completed the season’s first full transit of the St. Lawrence Seaway en route to the Great Lakes’ westernmost port.By tradition, this first full transit from the Atlantic Ocean marks the annual opening of the Duluth-Superior Harbor…

Constant attacks on Ukrainian Black Sea ports by Russian drones and missiles are leading to a slowdown in Ukraine's maritime agricultural exports, brokers said on Wednesday.A key maritime hub in the southern Odesa region has been under almost daily attacks in recent weeks, but authorities have not reported any significant damage to port infrastructure."Active shelling of Ukraine, particularly in the south, by Russia last week led to interruptions in export shipments and a slowdown in waterborne exports…

The Baltic Exchange's main sea freight index fell to over a three-week low on Monday, weighed down by weakness in the capesize and panamax vessel segments.he overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell for the fifth straight session by 73 points, or 3.3%, to 2,123 points.The capesize index lost 187 points, or 5.4%, at 3,295, its lowest level since Feb. 27.Average daily earnings for capesize vessels, which typically transports 150…

Cereal and oilseed imports to China, the world's biggest buyer of farm goods, will remain near record highs this year despite a recent spate of cancellations as lower global prices and a domestic output shortfall prompt purchases.China's wheat imports from Australia in January and February this year have nearly quadrupled from the same time last year, the latest customs data show. That trend should continue even after Beijing cancelled or postponed 1 million metric tons of Australian wheat last week.The cancellations, along with those for about 500,000 tons of U.S.

Grain ships originating from the Black Sea or bound for Iran are about the only ones still sailing through the Red Sea as Houthi militants continue to attack vessels in the area, analysts said on Friday.The attacks by the Iran-aligned Houthis have disrupted global shipping since November and forced firms to re-route to longer and more expensive journeys around southern Africa."Just about all (dry bulk grain) vessels going from the Americas and western Europe are avoiding the Red Sea…

Insurance broker Marsh and Lloyd's of London underwriters have expanded a marine war insurance program backed by Ukraine from grain shipments to all non-military cargo, such as iron ore and steel, Marsh said on Friday.Marsh, Lloyd's and Ukrainian state banks launched an initial program in November to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, following Russia's invasion of Ukraine two years ago."Expanding insurance to cover ships carrying all non-military cargo is extremely important for Ukraine…

New U.S. sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they specifically cite top exporters SUEK and Mechel, three major traders of Russian coal said.Russia, historically a minor exporter of the fuel to India, began boosting shipments to the south Asian country after Western sanctions against Moscow over its invasion of Ukraine.The latest U.S. sanctions also include Russia's payment system, financial institutions and energy production."With the new sanctions…

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…

Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.Before joining Foremost Group in 1996, Angela Chao worked in the mergers and acquisitions department of Smith Barney…

Iron ore shipments transported by U.S.-flag vessels on the Great Lakes totaled 2.8 million tons in January, an increase of 12.4% compared to 2023, according to latest data published by trade group the Lake Carriers’ Association (LCA)Loadings were also above the month’s 5-year average by 24.4%, LCA said.(Source: Lake Carriers’ Association)

Cargo volumes moved by U.S.-flag Great Lakes freighters in 2023 increased 6.5% compared to 2022, according to latest figures from trade group the Lake Carriers’ Association (LCA).The 81.4 million tons of cargo transported by the U.S. laker fleet 2023 was 1.2% above the fleet’s five-year average, LCA said.Iron ore cargos totaled 42.4 million tons, an increase of 13.4% compared to a year earlier, while limestone shipments increased by 3.9% to 24.6 million tons. Sand shipments increased by 12.4%.Coal cargos were down 9.7% to 8.4 million tons.

Ukraine has managed to boost its Black Sea grain exports to a level not seen since before Russia's invasion, although the Red Sea shipping crisis poses a new challenge to its crucial agricultural trade.Kyiv's success in replacing a UN-backed Black Sea export deal with its own shipping scheme has brought relief for Ukrainian farmers and importing countries while representing a naval breakthrough for Ukraine's military as a land counteroffensive has stalled.The export turnaround…

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.