Baltic Sea Freight Index Higher for Fifth Straight Week Led By capesize index up 36.4%

The Baltic Exchange’s dry bulk sea freight index rose14.2% for the week. The BDI rose the fifth consecutive weekly gain and to a seven-week high. Pressure came again from rising rates for capesize and supramax vessels. The capesize index rose 36.4%, also its fifth consecutive weekly gain. The panamax index also rose, for the second week in a row. There was fresh activity in the grain market, Algeria’s state grains agency OAIC is believed to have purchased a total of … Continue reading “Baltic Sea Freight Index Higher for Fifth Straight Week Led By capesize index up 36.4%”

Demand For Larger Ships Pushes Baltic Sea Freight Index Higher for Fourth Straight Week

The Baltic Exchange’s dry bulk sea freight index rose 2.8% to 2,718 points on Friday. The BDI rose 13.1%, on the week, the fourth consecutive weekly gain and to a seven-week high. Pressure came again from rising rates for capesize and supramax vessels. The panamax index also rose, for the first time in three weeks, gaining 8.1% on the week. There was fresh activity in the grain market. Baltic Exchange Dry Index (BDI) Segments (May 8, 2022) The Baltic Exchange’s … Continue reading “Demand For Larger Ships Pushes Baltic Sea Freight Index Higher for Fourth Straight Week”

Baltic Sea Freight Index Gains for Third Straight Month in April

The Baltic Exchange’s dry bulk sea freight index rose 1 point to 2,404 on Friday, after falling 0.9% in the prior session. The BDI rose nearly 2% in April, the third straight month of rises. Pressure came from rising rates for capesize and supramax vessels. Turkey’s state grain board TMO has started making provisional purchases of wheat in an international import tender Baltic Exchange Dry Index (BDI) Segments (April 29, 2022) The Baltic Exchange’s dry bulk sea freight index rose … Continue reading “Baltic Sea Freight Index Gains for Third Straight Month in April”

Baltic Sea Freight Index Gains for Second Week Despite First Weekly Fall in Dalian Iron Ore in Two Months

The Baltic Exchange’s dry bulk sea freight index rose again this week for the second time in six weeks. The BDI was rose 8% after being up 4% last week. Pressure came from rising rates for capesize and supramax vessels. Chinese Dalian iron ore fell Friday posting its first weekly drop in two months, as demand weakness in top steel producer China outweighed supply risks flagged by the world’s biggest miners such as Rio Tinto. Baltic Exchange Dry Index (BDI) … Continue reading “Baltic Sea Freight Index Gains for Second Week Despite First Weekly Fall in Dalian Iron Ore in Two Months”

Baltic Exchange’s Dry Bulk Sea Freight Index Jumps to First Gain in Five Weeks

The Baltic Exchange’s dry bulk sea freight index rose this week for the first time in five weeks. The BDI was rose 4% this week. Pressure came from rising rates for panamax and supramax vessels. Chinese steel futures traded higher as investors looked for government measures to uplift its economy reeling from the new COVID spread and lockdown. Baltic Exchange Dry Index (BDI) Segments (April 14, 2022) The Baltic Exchange’s dry bulk sea freight index rose for a third straight … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Jumps to First Gain in Five Weeks”

Corn Prices Remain Underpinned by U.S. Planting Delays and Ukraine Grain Unavailable for Export

Grain traders squared positions ahead of the Easter holiday weekend on Thursday. Corn prices fared the best up nearly 1% on a round of technical buying. Soybean contracts trended slightly higher while wheat prices fell significantly, with most contracts down 1.5% to 2.5% on profit-taking. Corn prices remain underpinned possible U.S. planting delays and Ukraine grain unavailable for export. May corn futures added 7.5 cents to $7.91, with July futures up 6.5 cents to $7.8450. Corn export shipments were 1% … Continue reading “Corn Prices Remain Underpinned by U.S. Planting Delays and Ukraine Grain Unavailable for Export”

Baltic Exchange’s Dry Bulk Sea Freight Index Suffers Third Straight Weekly Loss

The Baltic Exchange’s dry bulk sea freight index was lower this week for the third week in a row. The BDI was down 7.4% this week. Pressure came from falling rates for panamax and supramax vessels. Shipbroker Jefferies sees a recovery for 2022 with higher rates than last year rates “especially as most Western buyers of commodities try to diversify away from Russian cargoes”. Baltic Exchange Dry Index (BDI) Segments (March 25, 2022) The Baltic Exchange’s dry bulk sea freight … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Suffers Third Straight Weekly Loss”

Baltic Exchange’s Capesize index Falls 28% For the Week Pushing Dry Bulk Sea Freight Index Down Further

The Baltic Exchange’s dry bulk sea freight index was lower this week for the second week in a row. The BDI was down 2.3% this week. Pressure came from the capesize index down 82 points, or 4.2%, to 1,887 Friday, registering a weekly fall of about 28%. On the flipside the panamax index gained 34 points, or about 1%, to 3,413 points, up about 19% for the week. Baltic Exchange Dry Index (BDI) Segments (March 25, 2022) The Baltic Exchange’s … Continue reading “Baltic Exchange’s Capesize index Falls 28% For the Week Pushing Dry Bulk Sea Freight Index Down Further”

Extreme Commodity Prices Volatility Pressures Commodity Trading Houses Bonds

The explosion in commodity prices volatility has seen coal, oil and natural gas prices surge, the Nickel market halted for a week and grains prices hitting record highs. Unintended consequences and contagions flow through in heavily levered and multi-faceted financial markets. In the past week, the yield on Gunvor Group Ltd. bonds due in 2026 rose as high as 16.8%, Trafigura Group bonds due in 2025 rose to almost 10%. Credit default swaps on Louis Dreyfus Co. debt on Friday … Continue reading “Extreme Commodity Prices Volatility Pressures Commodity Trading Houses Bonds”

Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended

LME suspended nickel trading for at least the remainder of the day Tuesday after Nickel prices roughly doubled to all-time highs Tuesday, up 500% from Friday. Nickel soared over $100,000 a ton to an all-time high on the London Metal Exchange when prices surged around $40,000 in just one hour. The move came from a short squeeze with a major Chinese bank where a unit of China Construction Bank Corp. extra time to pay hundreds of millions of dollars in … Continue reading “Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended”