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Dry Bulk News

29 Jan 2025

Seanergy Maritime Grows Fleet with Two Japanese Ships

(Credit: Screenshot/Video by Seanergy Maritime Holdings Corp.)

Seanergy Maritime Holdings Corp. has entered into two definitive agreements with unaffiliated third parties in Japan for the purchase of a Japanese-built Newcastlemax vessel and a bareboat charter with a purchase obligation for one Japanese-built Capesize vessel, for approximately $69 million.The Newcastlemax was built in 2013 at Imabari Shipbuilding, Saijo Shipyard, and has a cargo-carrying capacity of approximately 207,851 deadweight tons (dwt).The vessel will be renamed Meiship and is expected to be delivered within the first quarter of 2025…

21 Jan 2025

MOL Grows Dry Bulk Carrier Fleet with Gearbulk Acquisition

(Credit: MOL)

Mitsui O.S.K. Lines (MOL) has completed the acquisition of 72% shares in Gearbulk, growing its fleet of dry bulk carriers to 338 vessels.The completion of acquisition means Gearbulk is now MOL’s consolidated subsidiary.Gearbulk has a proven track record of growth through the transport of semi-finished products such as pulp. MOL has had a 34-year partnership with Gearbulk since its equity participation in 1991.With the consolidation, the MOL Group's fleet of dry bulk carriers will total 338 vessels…

02 Jan 2025

Lila Global Appoints Strategy and Innovation Leader

Dr. Abdul Rahim courtesy of Lila Global

Dry cargo shipping and logistics company Lila Global has appointed Dr. Abdul Rahim as its Chief Maritime Strategy and Innovation Officer.Rahim will work closely with Lila Global's leadership to drive transformative strategies and foster innovation in the maritime industry. He will be based in Dubai.Rahim brings more than three decades of experience to this position, including a proven track record of leadership and innovation. Prior to joining Lila Global, he served as a Corporate Officer and Managing Director for Europe and Africa at ClassNK…

20 Dec 2024

Baltic Index Snaps 3-Session Slide

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped its three-session losing streak on Friday, supported by strong rates across the capesize and panamax vessel segments.The index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 14 points to 990 points. The contract was down 5.8% for this week.The capesize index was up 36 points to 1,115 points. The index lost about 11.7% this week. Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $299 to $9,244.Iron ore futures prices fell for a fourth straight session on Friday and were set for a weekly loss…

23 Oct 2024

Russian Attacks on Ukranian Vessels Pinch Dry Bulk Market

Courtesy BIMCO

“Since September 2024, five merchant ships have been hit by Russian missiles while in Ukrainian ports or waters. These were the first attacks on merchant ships since November 2023 and they could threaten 1% of the world’s dry bulk exports if safety is not improved. The price of war risk insurance has already increased but the impact on exported volumes has so far been limited,” says Filipe Gouveia, Shipping Analyst at BIMCO.Throughout 2024 Ukraine has been exporting dry bulk cargoes from its ports in greater Odesa via a corridor close to its coast.

22 Oct 2024

US Exporters Race to Ship Soybeans as Looming Election Stokes Tariff Worries

© EJRodriquez / Adobe Stock

U.S. soybean export premiums are at their highest in 14 months, as grain merchants race to ship out a record-large U.S. harvest ahead of the U.S. presidential election and fears of renewed trade tensions with top importer China, traders and analysts said.Nearly 2.5 million metric tons of U.S. soybeans were inspected for export last week, including almost 1.7 million tons bound for China, the most in a year, according to U.S. Department of Agriculture data released on Monday.But while this export flurry is a bright spot for U.S.

17 Oct 2024

Ukraine Asks IMO to Monitor Odesa Ports Amid Russian Attacks

© Denis Avetisyan / Adobe Stock

Ukraine has asked the International Maritime Organization to send a monitoring mission to ports in the southern Odesa region amid intensified Russian attacks, Foreign Minister Andrii Sybiha said on Wednesday.In recent weeks, Russian troops have ramped up missile strikes on Ukraine's southern port infrastructure and damaged a total of four foreign-flagged civilian vessels since Oct. 6."Amid increased Russian terror, Ukraine has officially appealed to the International Maritime Organization to immediately send an international monitoring mission to the ports…

04 Oct 2024

Great Lakes Limestone Trade Up 9.4%

(Photo: Lake Carriers’ Association)

Shipments of limestone on the Great Lakes totaled 3.8 million tons in September, an increase of 9.4% compared to a year ago, according to latest figures from trade group the Lake Carriers’ Association (LCA). Limestone cargos were also above the month’s 5-year average by 4.5%.Loadings from U.S. quarries totaled 3.1 million tons, an increase of 10.6% from 2023. Shipments from Canadian quarries totaled 678,580 tons, an increase of 4.2%, LCA said..LCA data shows that year-to-date the limestone trade stands at 20.8 million tons, an increase of 1.8% compared to a year ago.

03 Oct 2024

Great Lakes Iron Ore Trade Dips 1.9%

(Image: Lake Carriers’ Association)

Shipments of iron ore from U.S. ports on the Great Lakes totaled 5.5 million tons in September, a decrease of 1.9% compared to a year ago, according to latest figures from industry trade group the Lake Carriers’ Association (LCA). Shipments were above the month’s 5-year average by 6.6%.Year-to-date the iron ore trade stands at 36.5 million tons, a decrease of less than 1% compared to the same point in 2023, LCA said.Through September iron ore loadings are 7.3% above their 5-year average for the first three quarters of the year.

26 Sep 2024

Baltic Index Hovers Near Three-month High

© Rob / Adobe Stock

The Baltic Exchange's main sea freight index rose to its highest in close to three months on Thursday, propelled by higher rates in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 75 points to 2,091 points, hitting its highest since July 2.The capesize index jumped 265 points to 3,580 points, its highest since early July.Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $2,195 to $29,690.The panamax index was down 45 points or 2.9% at 1,4

09 Sep 2024

Rand Logistics CEO Dave Foster to Retire, Greg Binion Named Interim CEO

© Douglas / Adobe Stock

Rand Logistics, Inc., a provider of bulk freight shipping in the Great Lakes region, announced that Dave Foster has informed the Board of his decision to retire from his role as Chief Executive Officer, following a nearly 40 year career in the maritime industry, including the past four as CEO of Rand.Greg Binion, a seasoned transportation and logistics executive and most recently a Board Member of Rand, as well as the Executive Chairman of Andrie Marine, has been appointed interim…

06 Sep 2024

Ukraine's Maritime Food Exports Fall in August

© glebzter / Adobe Stock

Ukraine's food exports by sea and river totalled 4.13 million metric tons in August, down from 4.25 million tons in July, agriculture ministry data showed on Friday.That included 2.18 million tons of wheat, 553,732 tons of corn and 454,641 tons of barley, the data showed.Ukraine's UGA grain traders union said this month that overall grain and oilseed exports totalled 4.3 million tons in August, up from 4.2 million in July.UGA said that included 2.2 million tons of wheat, 794,000 tons of rapeseed and 646…

05 Sep 2024

Low Water Hampers Barge Shipping on the Mississippi River

© steheap / Adobe Stock

Low water conditions have led to several barges running aground along a key stretch of the lower Mississippi River, the U.S. Coast Guard told Reuters on Wednesday, just as the busiest U.S. grain export season gets underway.Low water levels are slowing export-bound barge shipments of grain and oilseeds from the Midwest farm belt for a third straight year, making U.S. exports less competitive in a world market awash in supplies - just as farmers are set to harvest a record soy and large corn crop and as prices hover near four-year lows.The U.S.

13 Aug 2024

Great Lakes Limestone Trade Down in July

(Photo: Lake Carriers’ Association)

Shipments of limestone on the Great Lakes totaled 3.6 million tons in July, a decrease of 14.3% compared to a year ago, according to latst figures from industry trade group the Lake Carriers’ Association (LCA). The trade was also below the month’s five-year average by 9.3%.Loadings from U.S. quarries totaled 2.9 million tons, a decrease of 14% compared to 2023, while shipments from Canadian quarries decreased by 15.5% to 651,155 tons, LCA said.Year-to-date the Lakes limestone trade stands at 13.3 million tons, an increase of 2.7% compared to a year ago.

12 Aug 2024

Bulk Carriers: Baltic Dry Index Down for Third Straight Day

© yaniv / Adobe Stock

The Baltic Exchange's dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for a third straight session on Monday, weighed down by weaker rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 15 points, or 0.9%, to 1,655.The capesize index fell 24 points, or about 1%, to 2,413.Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, declined $205 to $20,008.Prices of iron ore futures slid on Monday, dragged down by heigh

08 Aug 2024

Baltic Dry Index Snaps Four-day Winning Streak

© Björn Wylezich / Adobe Stock

The Baltic Exchange's dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, snapped its four-day gaining streak on Thursday, as rates declined across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 15 points, or 0.9%, to 1,683.The capesize index fell 14 points, or 0.6%, to 2,459.

31 Jul 2024

Baltic Dry Index Slides to Three-month Low

© Stock87 / Adobe Stock

The Baltic Exchange's dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, slipped to its lowest level in three months on Tuesday, weighed down by lower rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 35 points, or 2%, to 1,762, hitting its lowest level since May 1.The capesize index fell 83 points, or 3.2%, to 2,499, declining for a eighth consecutive session.Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, we

22 Jul 2024

Norden Brings Norwegian Dry Bulk Operator Under Its Wing

© Leonid / Adobe Stock

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…

17 Jul 2024

Russia Ships First Grain from New Baltic Terminal

© Alexey Lesik / Adobe Stock

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…

17 Jul 2024

OrbitMI Unveils DaaS Solution for Dry Bulk Maritime Players

(Credit: OrbitMI)

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…

21 Jun 2024

Fire Suspends Sugar Loading at Tiplam Terminal in Brazil's Santos Port

© Pulsar Imagens / Adobe Stock

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.

07 Jun 2024

Russia Starts Wheat Shipments to Brazil from Baltic Terminal

© Travelstock / Adobe Stock

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.

07 Jun 2024

Great Lakes Trade: Limestone Up, Iron Ore Down in May

(Photo: Lake Carriers' Association)

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…