The dear old Baltic Dry Index (BDI) advanced to a year’s high of 829 points on Wednesday, beating the four-month average of 576 and encouraging headline writers and analysts alike.
Leading dry bulk players believe the worst maybe over for the capesize market with a high volume of scrapping, and a lack of forward cover by charterers, giving the possibility of spikes in the market.
Iron ore and dry freight markets are depressed, but it did not stop “The Incredible Bulk” taking centre stage at a reception as part of Singapore Exchange’s (SGX) Singapore Iron Ore Week held at the flower dome in the Gardens by the Bay on...
As China moves towards ending a three-year ban on 400,000 dwt valemaxes from docking at its ports there are mixed reactions to how great the impact will be.
The dry bulk market has continued to crumble this week with the Baltic Dry Index (BDI) just 10 points off its lowest level in its 30-year history at the close of Thursday.
Vale’s port terminal Ponta da Madeira has signed a cooperation agreement with China’s Qingdao port for an increase in the handling of iron ore between the terminals.
The low impact on the dry bulk market of an increase in Chinese iron ore imports is down to simple tonne-mile demand, according to Precious Shipping managing director Khalid Hashim.
The dry bulk cycle has a long way to go before it is over, said Clarkson Research Services president Martin Stopford at the Asian Logistics and Maritime Conference in Hong Kong.
The trend for the future is towards greater specialisation in the dry bulk market, according to Drewry Singapore president and ceo Arjun Batra, who even went so far as to suggest that "VLOCs (such as the Valemaxes) will eventually push out capes".
