Imports have risen to meet surging power demand
Ships facilitating Russia’s export of Ukraine-origin grain have gained plenty of attention over the past year and are subject to intense scrutiny and investigation. The renaming and offloading of ships appear to be an attempt to hide past and true identities
Capesize earnings have hit an 18-month high, according to Baltic Exchange data, reaching $31,671 per day. Iron ore exports in both basins supplemented with bauxite exports from West Africa have supported rates, Jefferies says
Nasdaq-listed owner is projecting a significant increase in average rates for its fleet for the fourth quarter
Monjasa said its fleet now consists of 13 tankers following the purchase of four secondhand vessels this year
China’s improved conditions and the issuance of new sovereign bonds may bring better outlook for the dry bulk sector, analysts said
Capesize rates could continue to rise until the end of the year on the back of falling coal inventories at Indian power plants
Dry bulker trading patterns have altered this year as coal imports into India declined, while those into China spiked
Analyst urges caution when using GDP growth as a predictor for dry bulk import demand. But there are warnings that economic fundamentals will eventually prevail
A combination of factors including easing congestion, faster turnaround times at Chinese ports and weakening sentiment related to China’s property sector have added to pressure on the capesize market, which has slumped 39% since the start of August
Increased activity in the Atlantic basin and port disruptions caused by typhoons in Asia have driven up capesize rates by up to $5,000 per day, while the panamax sector has also seen healthy increases
Greece-based owner is confident of continuing to outperform capesize index
While China’s reopening led to higher steel production and iron ore imports, a sustained recovery ‘seems farther away’ based on the recent drop in steel prices, says Jefferies equity analyst Omar Nokta. However, an expected China stimulus could be a positive near-term trigger
Russian diesel, once destined for Europe, now shipped to Türkiye, Brazil, northern Africa and Middle East at substantial discount, with longer voyages and profits from arbitrage trades boosting product tanker utilisation and earnings
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