Baltic Index Rises 8% for Week after Four Days of Iron Ore Futures Gains – TC Shipping Monitor

The Baltic Dry Index (BDI) snagged a weekly gain after two consecutive weekly declines despite falling on Friday on weaker demand in the larger vessel segments 13 points, or 1.2%, to 1,090. However, it rose by rose 8% for the week, its best since the week ended June 23. Dalian and Singapore iron ore futures extended gains for a fourth session, after the benchmark iron ore futures had their best month in June for 2023. There are the ever-hopeful wishes … Continue reading “Baltic Index Rises 8% for Week after Four Days of Iron Ore Futures Gains – TC Shipping Monitor”

Baltic Index Lower with Iron Ore Futures Slipping on Tangshan Output Cut– TC Shipping Monitor

The Baltic Dry Index (BDI) experienced a second consecutive weekly decline with weaker demand in the larger vessel segments. The shipping index rose on Friday, gaining 16 points, or 1.6%, to 1,009. However, it fell by 7.5% for the week. After benchmark iron ore futures had their best month in June for 2023 Dalian and Singapore iron ore futures slipped as China’s top steel-producing city of Tangshan ordered an output cut for July amid deteriorating air quality, prompting traders to … Continue reading “Baltic Index Lower with Iron Ore Futures Slipping on Tangshan Output Cut– TC Shipping Monitor”

Baltic Shipping Index Falls 21.5% in Q2 in Fifth Straight Quarterly Drop – TC Shipping Monitor

The Baltic Dry Index (BDI) had its worst week in four. This was despite benchmark iron ore futures had their best month so far in 2023 amid recurring hopes China would pump more stimulus to support its sputtering post-COVID economic recovery. The BDI fell 12% for the week, its worst since June 2, and also notched its fifth straight quarterly drop at 21.5%. For June the BDI index rose 11.7% with the almost 40% monthly jump in the capesize segment … Continue reading “Baltic Shipping Index Falls 21.5% in Q2 in Fifth Straight Quarterly Drop – TC Shipping Monitor”

Capesize index Gained 36.1% this week With China Demand for Coal – TC Shipping Monitor

The Baltic Dry Index (BDI) had its best week in three as the heat wave hitting northern China boosted the demand for the coal to satisfy the increase in cooling degree days. The BDI rose 15.2% on the week. Strong demand for the larger capesize vessels shipping coal to China to meet the demand for air conditioning. The capesize index gained 36.1% this week, its biggest weekly percentage gain since March 10. The panamax index was down 5.5% this week, … Continue reading “Capesize index Gained 36.1% this week With China Demand for Coal – TC Shipping Monitor”

Iron Ore Recovery Maintains Capesize and Panamax Vessel Demand – TC Shipping Monitor

Baltic Exchange’s dry bulk sea freight index broke its nine-session winning streak on Friday, the benchmark index still rose 2% for the week following on from a gain of 14.8% for the prior week. On Friday the BDI fell 18 points, or about 1.7%, to 1,076, its biggest fall in two weeks. Lower Capesize 5TC rates impacted Friday as it fell 71 points, or about 4.4%, to 1,528, still it gained 0.9% for the week, holding onto last week’s huge … Continue reading “Iron Ore Recovery Maintains Capesize and Panamax Vessel Demand – TC Shipping Monitor”

Capesize and Panamax Vessel Iron Ore Demand Boosts BDI – TC Shipping Monitor

Shipping demand picked up this week reversing what had been a freefall for the Baltic Exchange’s dry bulk sea freight index having fallen for sixteen straight days on Friday. The benchmark index rose about 14.8% for the week, its biggest weekly percentage rise since March 10. The Capesize 5TC after being the heaviest hit, jumped 35.7% for the week, its first weekly gain in four. Iron ore futures rose a second consecutive week boosting demand. The Panamax 5TC was up … Continue reading “Capesize and Panamax Vessel Iron Ore Demand Boosts BDI – TC Shipping Monitor”

Sea Freight Indices Slide Accelerates, BDI Down 21.6% for The Week, Lowest Since Jan 6

The Baltic Exchange’s dry bulk sea freight index fall worsened, now falling for sixteen straight days on Friday, its lowest level since January 6. The benchmark index fell about 21.6% this week with all four major segments of the BDI continuing to weaken. The Capesize 5TC was again the heaviest hit, sinking another 33%, after falling 20% the week prior with diminishing demand amid reduced production by Chinese steelmakers. The Panamax 5TC slid its lowest since February 22 and the … Continue reading “Sea Freight Indices Slide Accelerates, BDI Down 21.6% for The Week, Lowest Since Jan 6”

Sea Freight Indices Slide Continues; Capesize Sank 20%, BDI Off 15%, Supramax Down 12.3% Panamax Falls 8.4% – TC Shipping Monitor

The morose global economy has seen the Baltic Exchange’s dry bulk sea freight index continue to fall, now for a twelfth straight day on Friday, its lowest level since March 2nd. All major segments of the dry bulk spot lower as shipping continued to grapple with a China reopening sputtering at best. The BDI was down nearly 15%, its worst week in nearly four months. The Capesize 5TC sank 20%, with diminishing demand amid reduced production by Chinese steelmakers. The … Continue reading “Sea Freight Indices Slide Continues; Capesize Sank 20%, BDI Off 15%, Supramax Down 12.3% Panamax Falls 8.4% – TC Shipping Monitor”

Dry Bulk Shipping Falls Across All Major Segments – TC Shipping Monitor

The Baltic Exchange’s dry bulk sea freight index was down for a seventh day on Friday, leading all major segments of the dry bulk spot lower as shipping continued to grapple with a China reopening sputtering at best. Shipowners have kept their fleets in the Pacific basin rather sailing off toward the Americas. The BDI was down 11.2% for the week, its worst since the week ending January 27. The Capesize 5TC fell 13.9% and the Panamax 5TC was down13.2% … Continue reading “Dry Bulk Shipping Falls Across All Major Segments – TC Shipping Monitor”

Panamax Shipping Index Falls for Fifth Straight Week – TC Shipping Monitor

The Baltic Exchange’s dry bulk sea freight index closed unchanged this week. The BDI, was down for a second day on Friday, falling about 3.1% to a one-week low of 1,558 points and last week’s close. The move was its biggest daily decline since Mid-April. The panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes fell for its fifth straight, down 3% Friday to its lowest since February 27th at 1,402. … Continue reading “Panamax Shipping Index Falls for Fifth Straight Week – TC Shipping Monitor”