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This ongoing recovery is still in a "fragile" state - demand has increased but so has supply.
What a rebound. After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates. This brought earnings into profitable levels for a couple of days, as the BDI passed 1,282 on 27 March 2017.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
To get members ready for the new Code coming into effect 1 January 2019, BIMCO gives a run down of the major amendments that would impact members' business dealing with the carriage of dry bulk cargoes.
BIMCO continues to receive enquiries on UN 3077 solid bulk cargoes and how they should be handled under the International Maritime Solid Bulk Cargoes ( IMSBC) Code. BIMCO provides an explanation including an interpretation on how these cargoes are viewed in the IMSBC Code.
While we await the long-anticipated rebound in Capesize freight rates centred on Brazilian exports, let's focus on the brighter spots elsewhere in dry bulk shipping
Lower GDP growth in key demand-driving nations may challenge the market. In the meantime, Capesize owners enjoy a positive window in the market.
Since the latest peak in Baltic Dry Index (BDI) on 10 September at 2,995 – dry bulk earnings have known only one way – and that is down. At the end of January.
US seaborne coal exports are up 57% in total volume and 61% in terms of tonne-miles for the first five months of 2017 compared to the same period last year. If US coal exports remain high throughout 2017 it will have a solid effect on the global seaborne coal trade and support the overall improvement in the dry bulk shipping industry.