Australia’s coal exporters are bracing for a slump in shipments to China, making it somewhat ironic that May is likely to be the strongest month in nearly two years for Chinese imports from Down Under. Traders are expecting that China’s coal imports may fall in coming months amid moves by Beijing...
Dry Bulk Market
Dry Bulk Market: The End of the Road for Iron Ore
One thing that has confusingly held true up to now was that, against all the trends of many other commodities and market, iron ore kept on rising. It has been the black sheep of the markets, standing there, teeth gritted, weathering the storm that had swept away many other markets. However, just as...
https://www.hellenicshippingnews.com/dry-bulk-market-the-end-of-the-road-for-iron-ore/
Vietnam, China demand aids Asia’s dry bulk shipping despite COVID-19
Asia’s dry bulk shipping market has found support from robust coal demand from Vietnam and China as well as plentiful iron ore flows to China, despite COVID-19 pulling down consumption in other pockets, Vivek Kumar, managing director of Western Bulk Pte Ltd. told S&P Global Platts in an interview....
Global Economy’s Rebound Will Determine Shipping’s Turnaournd as Well
As various governments around the world are gradually shaping their stimulus and policies to jolt their economy, the shipping industry is eagerly waiting for them to take effect and translate into a growth in global trade. In its latest weekly report, shipbroker Intermodal said that “earlier in...
History Repeats As Brazil Delivers Another Iron Ore Boom
Brazil’s worsening Covid-19 crisis is making waves in the commodities world with reduced iron ore shipments from the South American country lifting the price of the steel-making material by 30% to almost $100 a ton. There could be more to come with some analysts forecasting a return to last year’s...
https://www.hellenicshippingnews.com/history-repeats-as-brazil-delivers-another-iron-ore-boom/
Star Bulk Carriers Corp. Expects Negative Impact in Trade Volumes to be Concentrated on the First Half of 2020
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, yesterday announced its unaudited financial and operating results for the first quarter ended March 31, 2020. Petros Pappas, Chief Executive Officer of Star Bulk, commented: “COVID-19 caused an...
Golden Ocean Group Reports First Quarter Net Loss of $160.8 Million, as Dry Bulk Market Collapses
Golden Ocean Group Limited, a leading dry bulk shipping company, announced its results for the quarter ended March 31, 2020. Highlights ▪ Net loss of $160.8 million, including non-cash adjustments of $125.6 million, for the first quarter of 2020. ▪ Adjusted EBITDA of $12.3 million for the first...
Minimal Activity Becomes the Norm in the Shipbuilding Market
Ship owners are refraining from aggravating the existing balance between demand and supply, already not in their favor in many ships classes. This translates to a lull in newbuilding activity, a trend also noticed during the 2009-2010 crisis. In its latest weekly report, shipbroker Allied...
https://www.hellenicshippingnews.com/minimal-activity-becomes-the-norm-in-the-shipbuilding-market/
Brazil’s May to-date soybean exports jump 33% on month to 12.24 mil mt
Brazil’s soybean exports jumped 33% month on month to 12.24 million mt in the first three weeks of May, latest foreign trade department data showed on May 25. The falling Brazilian real, which has lost over 40% of its value since January, has boosted the price competitiveness of Brazilian soybeans....
Dry Bulk Shipping: No Quick Recovery For The Dry Bulk Market As Covid-19 Digs Deeper
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to work in China is not enough to support the market. Demand drivers and freight rates The dry bulk shipping market has had an appalling start to the year,...