Rio Tinto has agreed the terms with its joint venture partners, including China’s Baowu, on developing infrastructure for the Guinean Simandou iron ore mine. With an estimated 8.6 BMT of […]
Like yesterday’s tanker outlook, analysts reckon 2023 will be better for dry bulk in the second half of the year once the sector’s most important player, China, has got its […]
The Baltic Dry Index (BDI) declined on Wednesday for the fifth consecutive business day after reportedly posting its worst one-day plummet in almost 40 years. The BDI, which serves as […]
Clarksons reports the dry bulk fleet having added 1.4 MDWT in December, while a total of 0.8 MDWT was scrapped. Annualizing this data implies a run-rate of deliveries at 1.7% […]
The latest development on the Chinese coal front is a potential easing of the unofficial ban imposed on Aussie coal. China is reportedly in discussions to allow 4 major coal […]
Two Asian shipowners, Vietnam’s ITC Corp, and China’s Fuhai Shipping sold their oldest bulk carriers for recycling as 2022 ended. ITC Corp’s 27,00-dwt bulker was sold to cash buyers for […]
New York-listed Eagle Buk Shipping completed a bit of Christmas shopping over the holidays, closing the reported buy of the 63,600-dwt Stony Stream (built 2015) for $24.2m. The Connecticut-based owner […]
China imposes coal import tariffs The Chinese Ministry of Finance has announced it will reimplement import tariffs of 3% on coking coal, among other types, from 1 April with the […]
The Freightos Baltic Index (FBX) was up 6% WOW on 1 January, marking the largest relative gain since August 2021, and still remains 63% above the average level in 2019. […]
The dry bulk sector struggled during 2022 as continued lockdowns in China met growing recession fears globally. The result has been freight markets under pressure and steeply discounted equities to […]
