Dry Bulk
Stay informed with the latest news, analysis, and market insight for the dry bulk shipping industry through our expert coverage
Don’t count on the China recovery to lift bulker rates just yet
Optimists are pinning monumental hopes on China’s recovery, but the extent of demand increase is not yet clear. Recent property market data and iron ore import forecasts has sent out a worrying sign
Dry bulk: Softening of rates expected amid uncertain economic backdrop
Uncertainty regarding ultimate demand will lead to volatility; however, there is consensus that a rebound in China is expected to be felt in the latter part of next year as it gradually reopens its economy following its strict zero-Covid policy
Soyabean trade to lift demand for panamaxes
Panamaxes should benefit from higher soyabean exports out of Brazil, while demand for smaller-sized bulk carriers will be hurt by much lower sorghum volumes from the US
Sub-capesizes end the year rangebound at lower levels
Handysizes to panamaxes have shed value through the month, with average daily spot rates ending the year in a $11,000-$14,000 range, as activity dwindles ahead of the holidays and amid an uncertain economic outlook
Capesize market ends 2022 on strong footing
In a surprise move, spot prices moved up over $20,000 per day, with the front months edging higher. But how long can this be sustained?
Capesize market lifts off
The scaling back of China’s draconian Covid policies has bolstered sentiment in the capesize market. What is more, higher iron ore activity from Brazil and Australia ahead of the holidays has led to a rise in spot rates to the highest level in two months
Baltic Exchange considers updating supramax index to reflect size and trade shift
The London-based exchange held a working group to discuss the possible changes to a larger sized vessel in response to feedback. Potential changes to routes and weightings were also on the agenda
Jinhui Shipping profit suffers amid softer freight rates
Company said congestion and disruption issues are likely to continue in some countries and regions for the foreseeable future
Capesize slump continues on ever-weakening sentiment
Spot daily average breaches the $13,000 level, with cargoes lacking amid plentiful tonnage. Elsewhere, futures prices for the first quarter inch closer to the $6,000 mark, a record low for this contract, brokers say
Capesize futures point to bleak outlook
A heavy sell-off in the forward curve was seen at the start of the week, mainly on weaker sentiment related to increased likelihood of interest rate hikes combined with a stronger US dollar hurting commodity demand and continued headwinds from China, analyst says
Capesize market dips after rally
Spot rates have dipped to $16,000 per day, following days of increases that saw the segment creep up to levels seen for other bulker sizes
Daily Briefing September 15 2022
Doubts cast over LNG’s role as future fuel | US set to overtake Russia as Europe’s largest crude supplier | Demand growing for future-fuel ready engines | Capesize market stages dramatic rebound
Seanergy optimistic for capesize market prospects ‘for the coming years’
Market slump in recent weeks has hit the bottom and rates should improve in the second half, says company
Genco expects support for capesizes as it focuses on short-term fixtures
US dry bulk company will have lower capital expenditure in the second half of the year following a heavy drydock schedule, while also seeing lower vessel operating costs as crew-change issues unwind and it completes the transition to its new technical management joint venture with Synergy
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