Baltic Exchange’s Dry Bulk Sea Freight Index Plunge Continues on Subdued Demand

The Baltic Exchange’s dry bulk sea freight index fell on Friday for the ninth straight session, down 11.4% for the week, notching its fifth consecutive weekly decline. The three bulker smaller than capesizes; panamaxes, supramaxes and handysizes all fell again. A seasonal slowdown of cargo movement ahead of the Chinese New Year continues to subdue demand. Ocean freight rates are under pressure to start 2023, with the Baltic Dry Index (BDI) dipping to its lowest level since June 2020 as … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Plunge Continues on Subdued Demand”

Baltic Exchange’s Dry Bulk Sea Freight Index Plunges to Two- and Half-Year Lows

The Baltic Exchange’s dry bulk sea freight index fell on Friday for the fourth straight session, down about 4.7% to an over 2-1/2-year low of 764 points. The BDI index lost 19.3%, its fourth consecutive weekly fall. The three bulker smaller than capesizes; panamaxes, supramaxes and handysizes all fell again after plunging last week to levels that have not be seen in two and a half years. The supramax index saw the 21st consecutive day of decreases. A seasonal slowdown … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Plunges to Two- and Half-Year Lows”

Panamaxes, Supramaxes and Handysizes Bulker Shipping Indices Plunge to Two- and Half-Year Lows

The Baltic Exchange’s dry bulk sea freight index fell 16.3% this week, its third consecutive weekly fall after being down 25.4% in the first week of January, its worst in more than a year. The BDI settled at 946 points on Friday, marking its lowest level in two-and-a-half years, having traded above 3,000 points as recently as May 2022. The three bulker smaller than capesizes; panamaxes, supramaxes and handysizes all plunged this week to levels that have not be seen … Continue reading “Panamaxes, Supramaxes and Handysizes Bulker Shipping Indices Plunge to Two- and Half-Year Lows”

Baltic Exchange Derivatives Market Volumes Rose in 2022 Led by Middle East Gulf to China VLCC Tankers

Global shipping found itself in turmoil after Russia’s invasion of Ukraine, right on the heels of Covid afflicted shipping channels since 2020. It comes as no surprise this volatility saw hedging and speculative derivates markets volumes increase in the space. London’s Baltic Exchange released data showing the derivatives market for clean and dirty tankers volumes traded in 2022 was up year on year. The most liquid dirty route was the VLCC route Middle East Gulf to China (TD3C), but TD20 … Continue reading “Baltic Exchange Derivatives Market Volumes Rose in 2022 Led by Middle East Gulf to China VLCC Tankers”

China Impact on Shipping Sees BDI Fall to Four Month Low, down 25.4% to Start 2023 

The Baltic Exchange’s dry bulk sea freight index continued where it ended last year off, freight booking cancellations are increasing at Chinese ports of Shanghai and Shenzhen as with factories spluttering with their work forces getting Covid. The BDI fell for the sixth straight session on Friday, falling about 1.4% to a four-month low of 1,130 points, down 25.4% in the first week of January, its worst in more than a year. The fall follows plunging 13.9% in Q4, 2022 and … Continue reading “China Impact on Shipping Sees BDI Fall to Four Month Low, down 25.4% to Start 2023 “

Baltic Dry Bulk Sea Freight Index Closes Down 31.7% for the Year, Most Since 2015

The Baltic Exchange’s dry bulk sea freight index fell 8.2% on Friday to close out a turbulent year for shipping. It was the second day of losses to an over one-week low of 1,515 points. The BDI plunged 13.9% this quarter and 31.7% for the year, the most since 2015. Concerns about the impact of fresh covid-19 outbreaks in China on demand hamper shipping. Iron ore has rallied to five-month highs recently so there is some hope in the new … Continue reading “Baltic Dry Bulk Sea Freight Index Closes Down 31.7% for the Year, Most Since 2015”

Port of Los Angeles Falls Further Behind Port of New York and New Jersey

The Port of Los Angeles, once the United States’ busiest seaport saw cargo volume declines in November. The port’s volume is 21% lower than the same month last year. Overall, the LA port has handled 7% less cargo in the first 11 months of 2022 compared to last year’s all-time record. Port of New York and New Jersey is the top among all U.S. ports for a fourth-consecutive month based on November data. West Coast ports of Los Angeles and … Continue reading “Port of Los Angeles Falls Further Behind Port of New York and New Jersey”

Strong Demand for Capesize Vessels Buoys Baltic Dry Bulk Sea Freight Index

Dalian iron ore with a third straight weekly rise on Friday, help lift the capesize index up 113 points, or about 5.4%, to its highest in more than eight weeks at 2,208 with a weekly gain of 31.2%. Baltic Exchange’s dry bulk sea freight index gained 12.6% for the week, its biggest weekly gain since Sept. 23 and rose 32 points Friday, or about 2.1%, to 1,560, its highest since Oct. 27. The panamax index however lost 6 points, or … Continue reading “Strong Demand for Capesize Vessels Buoys Baltic Dry Bulk Sea Freight Index”

Baltic Dry Bulk Sea Freight Index Tracking Iron Ore, Rises to Four Week High

Baltic Exchange’s dry bulk sea freight index gained 4.68% this week, its highest in over four weeks. The panamax index however snapped an 11-day streak of gains, falling 2 points to 1,659 points on Friday. Coming closer to the Christmas period owners will be very aware of the potential seasonal low period that looms in Q1. Baltic Exchange Dry Index (BDI) Segments (December 9, 2022) Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. … Continue reading “Baltic Dry Bulk Sea Freight Index Tracking Iron Ore, Rises to Four Week High”

Baltic Dry Bulk Sea Freight Index Supported by Highest Panamax Since Sept 9

Baltic Exchange’s dry bulk sea freight index gained 11.4% this week, its biggest rise since Oct. 7. The panamax index supported the overall index, rising 9.4% this week, its highest since Sept. 9.  The capesize index after jumping 43.8% last week, gave back 5.8% this week. The supramax index extended its decline for a fifth straight session. Coming closer to the Christmas period owners will be very aware of the potential seasonal low period that looms in Q1. Baltic Exchange Dry … Continue reading “Baltic Dry Bulk Sea Freight Index Supported by Highest Panamax Since Sept 9”