Tag: Port Hedland

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”

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”

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”

The Baltic Exchange’s dry bulk sea freight index closed down this week for the first down week in three and after it had risen for a third straight month last Friday. Pressure came from Singapore and Dalian iron ore futures falling sharply with renewed fears of a banking crisis in the United States coupled with diminishing demand amid reduced production by Chinese steelmakers. While the BDI rose about 0.8% to 1,558 points on Friday, it finished down 1.1% this week. … Continue reading “Singapore and Dalian Iron Ore Futures Help Baltic Dry Index Lower – TC Shipping Monitor”

Shipping rates continued to recover after finding support last week, the Baltic Exchange’s dry bulk sea freight index closed up for a third straight month on Friday. While the BDI fell 5 points to 1,576 Friday it showed a gain of 13.5% for the month. The capesize index rose 25 points, or about 1.1%, to 2,301, its highest level since late December. The gains this week were again led by the Capesize index, which represents cargoes carrying commodities such as … Continue reading “Baltic Dry Sea Freight Index Rises for Third Straight Month – TC Shipping Monitor”

Shipping rates found support this week, the Baltic Exchange’s dry bulk sea freight index up for a third day on Friday. The BDI rising about 5% to a more than one-week high of 1,504 following its biggest single-day gain since mid-March with stronger demand for all vessel segments. Freight indices had been falling after Cyclone Ilsa had left an epic trail of destruction through the WA Kimberly-Pilbara Coast travelling east of the world’s largest iron-ore export hub at Port of … Continue reading “TC Shipping Monitor: BDI Bounces after Port Hedland Reopening Following Cyclone Ilsa”

Shipping rates fell after Cyclone Ilsa left an epic trail of destruction through the WA Kimberly-Pilbara Coast travelling east of the world’s largest iron-ore export hub at Port of Hedland. The world’s largest iron-ore export hub was closed for eight days as it prepared for cyclone Ilsa and observed the Easter holidays. After Ilsa made landfall the port was unharmed and able to resume operations on Friday. Baltic Exchange’s dry bulk sea freight index was down 8% for the week, … Continue reading “TC Shipping Monitor: Cyclone Ilsa Shuts Down World’s Largest Iron Ore Export Hub”