Commodities

by hellenicshippingnews… on 2 October 2024 at 9:00 pm

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, declined for a third straight session on Wednesday on lower rates across all vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 52 points to 1,978 points. The index dropped to …

by hellenicshippingnews… on 2 October 2024 at 9:00 pm

Top grain producing regions of Russia and Brazil experienced one of their driest Septembers on record, just as farmers in both export giants were attempting to sow their crops. This has driven winter wheat planting rates to 11-year lows in Russia, which accounts for as much as a quarter of global wheat exports. Brazil is …

by hellenicshippingnews… on 2 October 2024 at 1:00 pm

Today, Wednesday, October 02 2024, the Baltic Dry Index decreased by 52 points, reaching 1978 points. Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry …

by hellenicshippingnews… on 1 October 2024 at 9:00 pm

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, extended losses on Tuesday as rates across all vessel segments declined. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 54 points to 2,030 points. The capesize index dipped 125 points to …

by hellenicshippingnews… on 1 October 2024 at 1:00 pm

Today, Tuesday, October 01 2024, the Baltic Dry Index decreased by 54 points, reaching 2030 points. Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry …

by hellenicshippingnews… on 30 September 2024 at 9:00 pm

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped on Monday pressured by losses across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 26 points to 2,084 points. The capesize index dropped 40 points to 3,649 …

by hellenicshippingnews… on 30 September 2024 at 9:00 pm

Iron ore futures surged to a near three-month high on Monday, propelled by improving demand outlook on the back of top consumer China’s latest property stimulus and a raft of monetary easing policies. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) jumped 10.71% to finish at 821.5 yuan ($117.14) a metric …

by hellenicshippingnews… on 30 September 2024 at 1:00 pm

Today, Monday, September 30 2024, the Baltic Dry Index decreased by 26 points, reaching 2084 points. Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry …

by hellenicshippingnews… on 29 September 2024 at 9:00 pm

Capesize This week saw significant positive momentum in the Capesize market. The BCI 5TC surged by $3,436, closing the week at $30,598, driven largely by robust activity in the North Atlantic region. Monday began with an encouraging uptick in both the Pacific and North Atlantic, pushing the BCI to $27,162. Despite some uncertainty in the …

by hellenicshippingnews… on 27 September 2024 at 9:00 pm

The Baltic Exchange’s dry bulk sea freight index on Friday extended gains and posted a second consecutive weekly rise, buoyed by a jump in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 19 points to 2,110 points, hitting its highest level in nearly three months. …

by hellenicshippingnews… on 27 September 2024 at 9:00 pm

The dry bulk market has been a mixed bag so far in 2024, in terms of performance, with Capesizes faring much better than smaller ship classes. In its latest weekly report, shipbroker Xclusiv said that “the dry bulk market has exhibited a mixed performance since the beginning of the year, with different segments experiencing varying …

by hellenicshippingnews… on 27 September 2024 at 9:00 pm

Iron ore futures prices rallied for a fourth straight session on Friday and eyed a weekly gain of over 10%, underpinned by fresh interest rates cuts in top consumer China and expectations of more fiscal and property stimulus. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 4.38%higher …

by hellenicshippingnews… on 27 September 2024 at 1:00 pm

Today, Friday, September 27 2024, the Baltic Dry Index climbed by 19 points, reaching 2110 points. Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry …

by hellenicshippingnews… on 26 September 2024 at 9:00 pm

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 …

by hellenicshippingnews… on 26 September 2024 at 9:00 pm

This week’s focus is on the overall decreasing pace of ballast speeds across all dry vessel class categories for the year. Notably, the Capesize segment, which initially showed an upward trend at the beginning of the year, saw its ballast speed increase again in September, driven by the improvement in freight rates. In contrast, other …

by hellenicshippingnews… on 26 September 2024 at 9:00 pm

Prices of iron ore futures extended gains into a third straight session on Thursday, after top consumer China’s pledge for more stimulus injected further confidence just as the last wave of monetary easing-led frenzy faded. The benchmark October iron ore on the Singapore Exchange jumped by 2.49% to $98.8 a metric ton, as of 0748 …

by hellenicshippingnews… on 26 September 2024 at 1:00 pm

Today, Thursday, September 26 2024, the Baltic Dry Index climbed by 75 points, reaching 2091 points. Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry …

by hellenicshippingnews… on 26 September 2024 at 10:00 am

After their worst campaign in 52 years, U.S. wheat exports are expected to reach four-year highs in the current marketing year thanks to a strong crop and relatively tame prices. Robust shipments have recently supported that forecast. That should boost the United States’ relevance in the global wheat market, though the storyline could be foiled …

by hellenicshippingnews… on 25 September 2024 at 9:00 pm

The Baltic Exchange’s main sea freight index extended gains on Wednesday hitting its highest in nearly three months, buoyed by higher rates for the capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 2 points to 2,016 points, hitting its highest since July 4. The capesize index …

by hellenicshippingnews… on 25 September 2024 at 9:00 pm

India imported 2% more thermal coal in April-July from a year earlier to boost its power generation, the federal coal ministry said in a statement on Wednesday. Overall coal imports, including coking coal mainly used by steel producers, rose 0.9% from a year ago to 90.51 million metric tons during the first four months of …

on 20 September 2024 at 8:04 am

Vitol purchased Cepsa’s naphtha cargo that was on the LR1 Hafnia Nile, which collided with the VLCC Ceres I July 19 and delivered it this week to LG Chem’s terminal at South Korea’s Yeosu port, several trading sources familiar with the deal said Sept. 20. This concludes a two-month saga, in which the cargo was transferred in Malaysia’s Johor from…

on 19 September 2024 at 11:27 pm

US grain and feed exporters are facing difficulties in securing export sales in October as the International Longshoremen’s Association has threatened to strike and shut port operations along the East and Gulf coasts. Containerized US agricultural and feed export products have experienced mixed impact from the potential strike. Increased volumes of containers have been routed through the US West Coast,…

on 18 September 2024 at 4:09 am

The East-West LNG arbitrage economics is strengthening as wider price spreads and declining freight rates offer traders more opportunities to move cargoes to the Far East, according to data from S&P Global Commodity Insights and market feedback. The potential netback from transporting a US-sourced cargo to the Far East has shifted from negative to positive territory, suggesting that traders may…

on 17 September 2024 at 9:57 pm

US beef market participants and related industry professionals have conflicting opinions about the potential for a strike on the US East and Gulf Coasts by the International Longshoremen’s Association, a union that represents dockworkers in those regions. The ILA’s current six-year contract agreement with the United States Maritime Alliance is set to expire Sept. 30, and the groups have yet…

on 17 September 2024 at 5:07 pm

The European duty-paid aluminum market’s recent softening, despite stability in the duty-unpaid market, points to murky outlooks for the remainder of the year, market sources say, as poor demand dynamics continue to battle tightening supply. Widespread uncertainty set a cautious tone among traders on the sidelines of an industry gathering in Athens, where few bookings materialized in a sluggish market….

on 12 September 2024 at 9:27 am

Japan’s ENEOS canceled a 55,000-metric ton naphtha cargo purchase from Spain’s Cepsa after the LR1 Hafnia Nile hit the VLCC Ceres I July 19, several sources familiar with the matter said Sept. 12. “The deal was canceled because it was not possible for the cargo to be delivered on time and some of the volume had also been lost in…

on 10 September 2024 at 7:00 am

Geopolitical issues no longer sharply influence oil prices and trade flows in Asia amid ample supply options, industry participants at the Asia Pacific Petroleum Conference said, while cautioning that fragile demand and tepid margins may dictate the market trend in the short term. Regardless of geopolitical conflicts involving Russia, Ukraine, Iran and Israel, on top of numerous international sanctions, there…

on 10 September 2024 at 4:51 am

Global LNG demand could rise 50% from the current levels by 2040 if prices don’t ratchet as consumption is seen staying stronger, Gunvor Group co-founder and Chairman Torbjörn Törnqvist told S&P Global Commodity Insights Sept. 9. “We’re seeing a bit of a more normal market from the price point of view compared to what the situation was when Russia attacked…