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Selected News Headlines 2022/Q2

HEADLINES SELECTED BY INTERCARGO (13/06/2022 – 19/06/2022)

 Greek committee ‘implores’ Russia for good treatment of seafarers

Annual report also takes to task shipbuilders and charterers for ‘sitting on the sidelines’ in decarbonisation effort (Lloyd’s List: click here)

EU Seeks To Release Ukrainian Grain Stuck Due To Russia’s Sea Blockade

June 19 (Reuters) – European Union foreign ministers will discuss ways to free millions of tonnes of grain stuck in Ukraine due to Russia’s Black Sea port blockade at a meeting in Luxembourg on Monday. (gCaptain: click here)

Reducing vessel speed is ‘most powerful way to cut emissions’

Reducing speed has an immediate impact on fuel consumption and emissions, while technical measures are still of limited value. A new structure of supply chain costs must ensure fair distribution of charges (Lloyd’s List: click here)

Prolonged slow steaming brings operational issues

Fires, exhaust system failures and fuel injector popping up more frequently, are possible issues from slow steaming (Lloyd’s List: click here)

Argentina woes add to global wheat squeeze

Argentina’s wheat export quota is set to fall by 31% in 2022/23 as its harvest hits a 12-year low, according to Bimco (Seatrade Maritime News: click here)

Urgent Ukraine wheat export solutions sought

Ukraine has an estimated 25m to 30m tonnes of grain held in the territory, which urgently needs to move as this year’s next crop is about to be harvested. (Splash247: click here)

Russia Says It’s Assisting Exports of Ukrainian Foodstuffs Via Azov Sea

June 16 (Reuters) – Russia said on Thursday it was facilitating the export of grain and oilseeds from Ukraine through Russian-held transit points on the Azov Sea, without explaining who was providing the foodstuffs for export (gCaptain: click here)

Turkey says Ukraine grain ships could avoid mines, Russia offers safe passage

Russia said on Wednesday it has offered “safe passage” for Ukraine grain shipments from the country’s Black Sea ports, but is not responsible for establishing the corridors, as Turkey suggested that ships could be guided around sea mines (Hellenic Shipping News Worldwide: click here)

Iron ore slumps to three-week low on China demand worries

Dalian iron ore fell for a fifth straight session on Thursday and hit its lowest in three weeks, dragged down by a pessimistic demand outlook for the steelmaking ingredient from top steel producer China. (Hellenic Shipping News Worldwide: click here)

Beijing readies centralised iron ore buying platform

China is looking to wrestle back some control of iron ore pricing, refloating an idea to get all its iron ore imports concluded via a platform led by the China Iron and Steel Association (CISA). (Splash247: click here)

Europe imports more South African coal as Russian ban looms

European countries, scrambling to secure alternatives to Russian coal, imported 40% more coal from South Africa’s main export hub in the first five months of this year than over the whole of 2021, figures obtained by Reuters showed on Wednesday (Hellenic Shipping News Worldwide: click here)

Bulk carrier sales focused on smaller tonnage

Recent bulk carrier sales transactions have been focused on the supramax and handysize sectors amid a relatively stable earnings environment in comparison to larger ships (Lloyd’s List: click here)

Dry bulk spot market bounces after falling steadily to two-month low

Baltic Dry Index sees first gain in two weeks as some capesize bulkers found work in Atlantic and Pacific basins (Tradewinds: click here)

Dry market report – Week 24

Capesize: It was turbulent seas this week as global markets buffeted the Capesize sector. Amongst this turmoil the sector managed to find a floor under its recent softening… Panamax: The Panamax market encountered a steady rise this week following recent weeks of falls. A floor was seemingly found on Tuesday… Ultramax/Supramax: A rather positional week overall. Whilst some key areas such as the US Gulf lacked impetus, from South America better opportunities were seen… Handy: During the week there were more significant drops from East Coast South America, as well as the US Gulf, due to lack of fresh enquiry… (Baltic Exchange: click here)

17.06.2022
10.06.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,578
2,320
+258.0
+11.1%
1,296 – 5,650
BRENT ($/bbl)
120.4
122.3
-2.0
-1.6%
WTI ($/bbl)
118.1
120.8
-2.6
-2.2%
MGO ROTTERDAM ($/mt)
1367.0
1351.0
+16.0
+1.2%
MGO  FUJAIRAH ($/mt)
1537.5
1550.0
-12.5
-0.8%
MGO SINGAPORE ($/mt)
1407.5
1338.5
+69.0
+5.2%
VLSFO ROTTERDAM ($/mt)
925.5
965.0
-39.5
-4.1%
VLSFO FUJAIRAH ($/mt)
1134.5
1130.5
+4.0
+0.4%
VLSFO SINGAPORE ($/mt)
1087.0
1149.0
-62.0
-5.4%
IFO 380 ROTTERDAM ($/mt)
639.0
633.0
+6.0
+0.9%
IFO 380 FUJAIRAH ($/mt)
671.5
699.0
-27.5
-3.9%
IFO 380 SINGAPORE  ($/mt)
623.0
610.5
+12.5
+2.0%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1344.0
1363.5
-19.5
-1.4%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1392.5
1335.0
+57.5
+4.3%
EUR-USD
1.05
1.05
0.00
-0.2%
GBP-USD
1.22
1.23
-0.01
-0.8%
USD-JPY
134.96
134.39
+0.57
+0.4%
USD-KRW
1,292.00
1,279.00
+13.00
+1.0%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
06 June 2022 - 12 June 2022

HEADLINES SELECTED BY INTERCARGO (06/06/2022 – 12/06/2022)

INTERCARGO: Governments must share the load for shipping’s decarbonization

It would be a mistake to place responsibility for meeting IMO’s zero emission shipping targets fully on the shoulders of the shipping industry, warns INTERCARGO. (Safety4Sea: click here)

IMO: What to watch out for the monkeypox outbreak

IMO published a circular to disseminate information and guidance on the monkeypox disease, based on recommendations developed by the World Health Organization (WHO). (Safety4Sea: click here)

European Parliament rejects carbon market report

THE European Parliament has voted to reject a report on the European Union’s carbon trading system after a day of political friction over the bloc’s Green Deal climate plan. (Lloyd’s List: click here)

We need an international system for emissions trading, and fast’ says EU policymaker

Comments were made as the key meeting of the IMO Marine Environment Protection Committee kicked off this week (TradeWinds: click here)

China says a third of electricity will come from renewables by 2025

China will aim to ensure that its grids source about 33% of power from renewable sources by 2025, up from 28.8% in 2020, the state planning agency said on Wednesday in a new “five-year plan” for the renewable sector. (Reuters: click here)

 Ukraine Grain Exports Via Poland, Romania Face Bottlenecks

SINGAPORE, June 12 (Reuters) – Ukraine has established two routes through Poland and Romania to export grain and avert a global food crisis although bottlenecks have slowed the supply chain, Kyiv’s deputy foreign minister said on Sunday. (gCaptain: click here)

Turkey Opens Talks With Russia on Plan to Reopen Ukraine’s Grain Ports

Russia’s foreign minister has traveled to Ankara for talks with the Turkish government on removing the blockade on Ukraine’s grain exports (Maritime Executive: click here)

India may allow up to 500,000 mt of wheat exports soon in second tranche since ban

The Indian government is likely to allow exports of nearly 500,000 mt of wheat in the near term after it banned shipments on May 13, officials in the Indian trade ministry told S&P Global Commodity Insights June 7. (Hellenic Shipping News: click here)

Port of Hedland Iron Ore Exports Reach 47.7 Million Tons During May

Pilbara Ports Authority has delivered a total monthly throughput of 61.7 million tonnes (Mt) for May 2022 (Hellenic Shipping News: click here)

Capesize bulker market slips despite higher ore prices as China reportedly quells Covid

VesselsValue notes that port congestion has dropped to three-year low for this time of year but still expects ’normalisation’ as China lifts Covid restrictions (TradeWinds: click here)

Slow Supply Growth To Support Dry Bulk Market As Risks To Demand Mount

The Baltic Exchange Dry Index (BDI) increased from 1,374 to 5,650 between early January and early October 2021, only to fall back to 1,302 by late January 2022. (Hellenic Shipping News: click here)

Dry market report – Week 23

Capesize: The Capesize market softened this week as global market concern’s kept the headwinds coming… Panamax: Another week interrupted by holidays in Asia and Europe, combined with many market players in Greece for Posidonia… Ultramax/Supramax: With many people away from their desks due to Posidonia the market in many areas saw a change in direction as rates from key areas such as the US Gulf and East Coast South America fell away… Handy: With Posidonia and holidays this week, activity was limited and sentiment was negative. In East Coast South America due to a lack of enquiry… (Baltic Exchange: click here)

10.06.2022
03.06.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,320
n/a
1,296 – 5,650
BRENT ($/bbl)
122.3
119.7
+2.6
+2.2%
WTI ($/bbl)
120.8
118.9
+1.9
+1.6%
MGO ROTTERDAM ($/mt)
1351.0
1323.0
+28.0
+2.1%
MGO  FUJAIRAH ($/mt)
1550.0
1531.0
+19.0
+1.2%
MGO SINGAPORE ($/mt)
1338.5
1257.5
+81.0
+6.4%
VLSFO ROTTERDAM ($/mt)
965.0
915.5
+49.5
+5.4%
VLSFO FUJAIRAH ($/mt)
1130.5
1069.0
+61.5
+5.8%
VLSFO SINGAPORE ($/mt)
1149.0
1095.0
+54.0
+4.9%
IFO 380 ROTTERDAM ($/mt)
633.0
668.0
-35.0
-5.2%
IFO 380 FUJAIRAH ($/mt)
699.0
710.5
-11.5
-1.6%
IFO 380 SINGAPORE  ($/mt)
610.5
655.0
-44.5
-6.8%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1363.5
1308.5
+55.0
+4.2%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1335.0
1279.0
+56.0
+4.4%
EUR-USD
1.05
1.07
-0.02
-1.9%
GBP-USD
1.23
1.25
-0.02
-1.4%
USD-JPY
134.39
130.82
+3.57
+2.7%
USD-KRW
1,279.00
1,252.00
+27.00
+2.2%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
30 May 2022 - 05 June 2022

HEADLINES SELECTED BY INTERCARGO (30/05/2022 – 05/06/2022)

 Shipping Industry Suffering from ‘Long COVID’ says INTERCARGO

The shipping industry is facing its own version of ‘long COVID’ says INTERCARGO, following warnings received from members. (Dry Cargo Int’l: click here)

Ballast water management amendments to apply from 1 June

MPA Singapore has issued a circular reminding shipowners that the amendments to the Prevention of Pollution of the Sea (Ballast Water Management) Regulations will come into force on 1 June. (Safety4Sea: click here)

European stakeholders propose amendments to FuelEU Maritime

ECSA, EWABA, eFuel Alliance, the Advanced Biofuels Coalition and GoodFuels call on the Parliament and the Council to amend the Commission’s FuelEU Maritime proposal to ensure that shipowners and fuels suppliers together play a key role under the new system. For the Regulation to achieve its objectives, the associations call for the introduction of robust requirements on Member States to ensure that fuel suppliers in European ports deliver compliant fuels to ships in sufficient quantities. (ECSA: click here)

EMSA sniffer drone monitoring SOx and NOx vessel emissions in North Sea and English Channel

The French Directorate General of Maritime Affairs, Fisheries and Aquaculture is using European Maritime Safety Agency drones to measure sulphur and nitrogen emissions from ships operating in the Emission Control Area (ECA) of the North Sea and English Channel. (ship.energy: click here)

Romania’s top port unfit to solve EU’s challenge to bring grain out of Ukraine

With Ukrainian ports blocked by Russian military forces since late February, Romania’s flagship Black Sea port, Constanta, has found itself on the front line to export Ukraine’s millions of tonnes of grain (Splash247: click here)

First cargo ship leaves Mariupol since Russia took the city – separatist leader

A ship has left the Ukrainian port of Mariupol for the first time since Russia took the city and is headed east to Russia with a load of metal, the Russian-backed separatist leader of the Ukrainian breakaway region of Donetsk said on Tuesday. (Hellenic Shipping News Worldwide: click here)

U.N. Had ‘Constructive’ Talks on Russian Grain, Fertilizer Exports

UNITED NATIONS, May 31 (Reuters) – A senior U.N. official had “constructive discussions” in Moscow with Russian First Deputy Prime Minister Andrei Belousov on facilitating Russian grain and fertilizer exports to global markets, U.N. spokesman Stephane Dujarric said on Tuesday (gCaptain: click here)

Argentine grain exporters sold $4.2 bln in May, setting new record

Argentina’s grain industry sold $4.2 billion in May, the best month since monthly records started, the Argentine Chamber of the Oil Industry (CIARA) and the Grain Exporters Center (CEC) said in a report.

(Hellenic Shipping News Worldwide: click here)

 India asked to supply more than 1.5 mln tonnes wheat

India has received requests for the supply of more than 1.5 million tonnes of wheat from several countries that need the staple to overcome shortages triggered by the invasion of Ukraine by Russia, trade and government sources said on Monday (Hellenic Shipping News Worldwide: click here)

China’s sabbatical from seaborne coal market hints at emphasis on self-reliance

Even though China’s reliance on coal-fired power is not seen falling anytime soon, indications from data and policy makers suggest that the world’s largest producer and consumer of coal may be actively looking toward meeting majority of its requirements through domestic production (Hellenic Shipping News Worldwide: click here)

Capesize bulkers exiting shipyards has added to excess tonnage supply

Shipowners are reaping what they have sown by delaying vessel surveys in late 2021, as spot rates continue to decline (Tradewinds: click here)

Capesize bulker market turns upward on Pacific fixture activity

The capesize bulker market improved for the second consecutive day as the panamax bulker sector continued a slide that began a week ago. (Tradewinds: click here)

Dry market report – Week 21

Capesize: This week, the tailwinds turned to headwinds for the Capesize market as a dip in values amongst bearish sentiment was evident for most regions… Panamax: A week of negativity engulfed the Panamax market with all rates falling sharply. Reduced fixing volumes and a build up of tonnage in most origins gave charterers the upper hand and reduced bids consequently became common theme…

Ultramax/Supramax: A rather protracted week as widespread European holidays dimmed activity levels. Sentiment eased in most areas as the week closed… Handy: With holidays in large parts of Europe and many places round the world, activity was limited.  In the US Gulf a 36,000-dwt was fixed for a trip to the UK – Continent with an intended cargo of wood pellets at $32,000… (Baltic Exchange: click here)

03.06.2022
27.05.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
n/a
2,681
 n/a
n/a
1,296 – 5,650
BRENT ($/bbl)
119.7
119.4
+0.3
+0.2%
WTI ($/bbl)
118.9
115.1
+3.8
+3.3%
MGO ROTTERDAM ($/mt)
1323.0
1206.0
+117.0
+9.7%
MGO  FUJAIRAH ($/mt)
1531.0
1426.5
+104.5
+7.3%
MGO SINGAPORE ($/mt)
1257.5
1159.5
+98.0
+8.5%
VLSFO ROTTERDAM ($/mt)
915.5
858.0
+57.5
+6.7%
VLSFO FUJAIRAH ($/mt)
1069.0
1006.5
+62.5
+6.2%
VLSFO SINGAPORE ($/mt)
1095.0
1061.0
+34.0
+3.2%
IFO 380 ROTTERDAM ($/mt)
668.0
678.5
-10.5
-1.5%
IFO 380 FUJAIRAH ($/mt)
710.5
705.5
+5.0
+0.7%
IFO 380 SINGAPORE  ($/mt)
655.0
670.0
-15.0
-2.2%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1308.5
1170.0
+138.5
+11.8%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1279.0
1192.5
+86.5
+7.3%
EUR-USD
1.07
1.07
0.00
-0.1%
GBP-USD
1.25
1.26
-0.01
-1.1%
USD-JPY
130.82
127.11
+3.71
+2.9%
USD-KRW
1,252.00
1,258.00
-6.00
-0.5%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
16 May 2022 - 22 May 2022

HEADLINES SELECTED BY INTERCARGO (16/05/2022 – 22/05/2022)

 China’s coronavirus policies vary from port to port, study finds

Change of non-Chinese crews only possible at biggest ports, and in some cases is precluded altogether, according to analysis by Gard (Lloyd’s List: click here)

 COVID-19 Impact on Shipping Report

The global outbreak of the Coronavirus (COVID-19) had an impact on global shipping, affecting all shipping sectors from passenger ships to container ships and oil tankers. The coronavirus crisis escalated to unprecedented levels in Europe in March 2020, with a severe impact on health, people and economy. (EMSA: click here)

Global shipowner group and seafarers’ unions agree new three-year global minimum wage ‘safety net’ deal

Agreement on a new deal for a global minimum wage for seafarers has been agreed at the UN International Labour Organization (ILO). (Shipmanagement Int’l: click here)

First International Day for Women in Maritime takes place under auspices of IMO

The first International Day for Women in Maritime being held today provides a platform to highlight and celebrate the achievements of women in maritime and identify areas of improvement for gender balance. (Shipmanagement Int’l: click here)

IMO set to designate the Mediterranean Sea an emission control area

Region set to join North America, Baltic, North Sea and Caribbean in controlling sulphur emissions (TradeWinds: click here)

EU carbon market amendments pass key vote

Cross-party support for charterer-pays clause and creation of an Ocean Fund for green research make the measures likely to pass the June plenary vote (Lloyd’s List: click here)

New report highlights scale of shipping’s renewable challenge

The scale of shipping’s green transition has been put into sharp relief with new data from Germany’s University of Applied Sciences showing the global shipping industry will require the equivalent of the world’s entire current renewable energy demand in order to replace fossil fuel use (Splash 247: click here)

BIMCO and partners prepare software maintenance submission to IMO

Anew industry working group established with the purpose of updating the existing Industry Standard on Software Maintenance of Shipboard Equipment has kicked of its work and aims to submit its recommendations to the International Maritime Organization (IMO). (Hellenic Shipping News Worldwide: click here)

Singapore port to develop ship-to-shore drone operations

Deal to explore how drone delivery technology can be integrated into the existing logistics and cargo operations at Jurong port (Lloyd’s List: click here)

Iron ore soars on China’s bigger-than-expected rate cut

Benchmark iron ore futures in Dalian and Singapore surged on Friday, adding to weekly gains as China cut its benchmark reference rate for mortgages by an unexpectedly wide margin, boosting hopes for further support to revive the economy. (Hellenic Shipping News Worldwide: click here)

Benchmark Mineral Intelligence: global battery gigafactory pipeline tops 300; China dominates

The number of gigafactories in the pipeline has surpassed 300; there is now 6,387.6 gigawatt hours (GWh) of lithium ion battery capacity in the pipeline as assessed in Benchmark Mineral Intelligence’s May 2022 Gigafactory Assessment—a 68% year-on-year increase. (Green Car Congress: click here)

Dry Bulk Market: Capesizes On the March For Yet Another Week

The Capesize market began the week at the summit of the recent rally. This necessitated a breather before sentiment strengthened, helping it to push up throughout the week and marking new highs for the year (Hellenic Shipping News Worldwide: click here)

 Dry market report – Week 20

Capesize: The Capesize market began the week at the summit of the recent rally. This necessitated a breather before sentiment strengthened, helping it to push up throughout the week and marking new highs for the year… Panamax: A flat ending to the week for the Panamax market, with a major shipping function in the west and Asian holidays ultimately impacting markets despite market fundamentals appearing largely positive… Ultramax/Supramax: Like the other sectors, a split market appeared during the course of the week and the Atlantic slowed down as many travelled to Denmark… Handy: A week of limited activity with holidays and the Danish Shipbrokers event, resulting in a split market as the Atlantic softened across all areas… (Baltic Exchange: click here)

20.05.2022
13.05.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
3,344
3,104
+240.0
+7.7%
1,296 – 5,650
BRENT ($/bbl)
111.7
111.6
+0.2
+0.2%
WTI ($/bbl)
111.7
110.5
+1.2
+1.0%
MGO ROTTERDAM ($/mt)
1098.5
1152.5
-54.0
-4.7%
MGO  FUJAIRAH ($/mt)
1379.5
1320.5
+59.0
+4.5%
MGO SINGAPORE ($/mt)
1122.5
1128.0
-5.5
-0.5%
VLSFO ROTTERDAM ($/mt)
843.0
795.0
+48.0
+6.0%
VLSFO FUJAIRAH ($/mt)
933.0
867.0
+66.0
+7.6%
VLSFO SINGAPORE ($/mt)
947.5
867.0
+80.5
+9.3%
IFO 380 ROTTERDAM ($/mt)
648.5
627.5
+21.0
+3.3%
IFO 380 FUJAIRAH ($/mt)
679.0
668.5
+10.5
+1.6%
IFO 380 SINGAPORE  ($/mt)
668.5
677.5
-9.0
-1.3%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1097.0
1154.0
-57.0
-4.9%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1140.0
1149.0
-9.0
-0.8%
EUR-USD
1.06
1.04
+0.02
+1.5%
GBP-USD
1.25
1.23
+0.02
+1.8%
USD-JPY
127.87
129.26
-1.39
-1.1%
USD-KRW
1,274.00
1,279.00
-5.00
-0.4%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
09 May 2022 - 15 May 2022

HEADLINES SELECTED BY INTERCARGO (09/05/2022 – 15/05/2022)

Zelensky Calls for Lifting the Russian Blockade of Odesa

On Monday, Ukrainian President Volodymyr Zelensky called for assistance in lifting the Russian blockade of Odesa, which has prevented billions of dollars’ worth of wheat from reaching global markets (Maritime Executive: click here)

Black Sea agribulk exports fall 35% in April due to Ukraine war

The Russian invasion of the Ukraine is blocking key agribulk exports from the Black Sea region driving up global food prices. (Seatrade Maritime News: click here)

EU to help Ukraine export grain as Russia blocks sea routes

The European Commission said that it would work with EU governments to help Ukraine export millions of tonnes of grain stuck in the country because the Russian navy is blocking Ukrainian ports. (Safety4Sea: click here)

India Bans Wheat Exports

India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. (gCaptain: click here)

Capesize bulker market forges ahead, buoyed by robust demand

Tonnage demand from Brazil and Australia remains brisk despite Covid-19 lockdowns in China, analysts say (Tradewinds: click here)

Capesize secondhand values up by 9%

Values of capesize bulk carriers heat up on the back of significant recent increases in freight earnings (Lloyd’s List: click here)

Baltic Dry Index Close to 5-Month Peak on Stronger Rates

The Baltic Exchange’s main sea freight index rose to a near five-month high on Tuesday, as rates rose for all vessel segments (gCaptain: click here)

Dry market report – Week 19

Capesize: The Capesize market had the wind in its sails as rates jumped in all regions. The 5TC ended the week at $32,733, a rise of 8731 week on week… Panamax: It was a mixed week on the BPI. After a positive start, activity and sentiment softened at close… Ultramax/Supramax: A rather positional week with mixed sentiment in many areas. The Atlantic saw a slight correction in the US Gulf as rates eased… Handy: The BHSI remained positive in general. However, the US Gulf made significant negative moves as a 38,000-dwt fixed from the US Gulf to Spain with an intended cargo of coal at $30,000… (Baltic Exchange: click here)

13.05.2022
06.05.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
3,104
2,718
+386.0
+14.2%
1,296 – 5,650
BRENT ($/bbl)
111.6
111.2
+0.3
+0.3%
WTI ($/bbl)
110.5
108.5
+2.0
+1.9%
MGO ROTTERDAM ($/mt)
1152.5
1258.0
-105.5
-8.4%
MGO  FUJAIRAH ($/mt)
1320.5
1374.0
-53.5
-3.9%
MGO SINGAPORE ($/mt)
1128.0
1236.5
-108.5
-8.8%
VLSFO ROTTERDAM ($/mt)
795.0
829.0
-34.0
-4.1%
VLSFO FUJAIRAH ($/mt)
867.0
884.5
-17.5
-2.0%
VLSFO SINGAPORE ($/mt)
867.0
880.0
-13.0
-1.5%
IFO 380 ROTTERDAM ($/mt)
627.5
643.5
-16.0
-2.5%
IFO 380 FUJAIRAH ($/mt)
668.5
760.5
-92.0
-12.1%
IFO 380 SINGAPORE  ($/mt)
677.5
749.5
-72.0
-9.6%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1154.0
1258.5
-104.5
-8.3%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1149.0
1234.0
-85.0
-6.9%
EUR-USD
1.04
1.05
-0.01
-1.3%
GBP-USD
1.23
1.23
-0.01
-0.6%
USD-JPY
129.26
130.58
-1.32
-1.0%
USD-KRW
1,279.00
1,270.00
+9.00
+0.7%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
02 May 2022 - 08 May 2022

HEADLINES SELECTED BY INTERCARGO (02/05/2022 – 08/05/2022)

Crew change indicator: Despite Ukraine war, crew changes remain stable

The May Crew Change Indicator records a tiny increase in seafarers onboard vessels beyond their contract expiry since April but overall does not indicate that the fears of a re-escalation of the crew change crisis due to the war in Ukraine have been fulfilled. (Safety4Sea: click here)

Singapore Increases Fuel Testing After Tracing Recent Contamination

Singapore’s Maritime and Port Authority is increasing the testing requirements for maritime fuel sold at the port after having traced the origins of the recent contaminated bunkers distributed by two suppliers during February and March 2022. (The Maritime Executive: click here)

Ukraine ships first seaborne grain cargo since invasion

Bulk carrier laden with corn left Romanian port last week and is nearing destination in Spain (Lloyd’s List: click here)

Iron ore falls as China’s ‘zero-COVID’ policy stokes growth concerns

Benchmark Dalian and Singapore iron ore futures tumbled more than 5% in late trade on Friday as China reinforced its tough COVID-19 response policy that has hit economic activity, prompting traders to be more cautious. (Hellenic Shipping News Worldwide: click here)

Dry Bulk Market: India’s Coal Imports a New Factor

India’s urge to increasse coal imports, could prove a boon for the dry bulk market. (Hellenic Shipping News Worldwide: click here)

 Dry bulk rates recover after negative reaction to Ukraine crisis

Spot rates across bulker segments as well as forward freight agreements are shrugging off any gloom related to the Russia-Ukraine situation, returning to the relatively positive supply-demand fundamentals (Lloyd’s List : click here)

 Capesize bulker optimism pushes FFAs higher as spot market inches along

Capesize bulker futures powered further ahead of the spot market on Tuesday as experts said optimism is running vessels for the rest of the year. (TradeWinds: click here)

 Dry market report – Week 18

Capesize: The Capesize market has made the most of the short working week as rates have lifted strongly…Panamax: A midweek physical and FFA surge gave the Panamax market some much needed impetus following a few fragmented weeks…Ultramax/Supramax: With many holidays over the last week, the sector had a rather lacklustre feel with limited fresh enquiry in a few areas… Handy: In a week full of holidays and limited visible trading the BHSI retained a positive trend in both basins… (Baltic Exchange: click here)

06.05.2022
29.04.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,718
2,404
+314.0
+13.1%
1,296 – 5,650
BRENT ($/bbl)
111.2
109.3
+1.9
+1.7%
WTI ($/bbl)
108.5
104.7
+3.8
+3.6%
MGO ROTTERDAM ($/mt)
1258.0
1351.0
-93.0
-6.9%
MGO  FUJAIRAH ($/mt)
1374.0
1351.0
+23.0
+1.7%
MGO SINGAPORE ($/mt)
1236.5
1198.0
+38.5
+3.2%
VLSFO ROTTERDAM ($/mt)
829.0
858.0
-29.0
-3.4%
VLSFO FUJAIRAH ($/mt)
884.5
861.5
+23.0
+2.7%
VLSFO SINGAPORE ($/mt)
880.0
870.5
+9.5
+1.1%
IFO 380 ROTTERDAM ($/mt)
643.5
633.0
+10.5
+1.7%
IFO 380 FUJAIRAH ($/mt)
760.5
747.0
+13.5
+1.8%
IFO 380 SINGAPORE  ($/mt)
749.5
776.0
-26.5
-3.4%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1258.5
1317.0
-58.5
-4.4%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1234.0
1198.5
+35.5
+3.0%
EUR-USD
1.05
1.05
0.00
0.0%
GBP-USD
1.23
1.26
-0.02
-1.9%
USD-JPY
130.58
129.85
+0.73
+0.6%
USD-KRW
1,270.00
1,264.00
+6.00
+0.5%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
25 April 2022 - 02 May 2022

HEADLINES SELECTED BY INTERCARGO (25/04/2022 – 02/05/2022)

New Report Highlights INTERCARGO Members’ Commitment to Quality

INTERCARGO has launched the thirteenth edition of its Benchmarking Report, providing a unique and real time insight into safety standards in the dry bulk sector. (ShipManagement Int’l: click here)

500 seafarers remain stranded on vessels in Ukraine

Three quarters of the seafarers stranded in the Ukraine have been safely evacuated, but 500 remain onboard vessels in the war-torn country. (Seatrade Maritime News: click here)

Port congestion grows as China’s capital braces for Shanghai syndrome

Familiar scenes of supermarket stampedes are emerging from the Chinese capital as mass testing gets underway in Beijing, the latest mega city to face the tough wrath of the country’s dogged zero-Covid policy (Splash247: click here)

FuelEU Maritime rules could slow newbuilding orders, analyst warns

The European Union’s FuelEU Maritime proposals may help usher in low-carbon fuels over the next three decades, but they could also put the brakes on newbuilding orders for bulk carriers and tankers in the near term. (TradeWinds: click here)

EU environment committee pushes to phase out all fossil marine fuels by 2050

Proposals could see restrictions on LNG-fuelled ships in measures aimed at toughening up draft law FuelEU Maritime (TradeWinds: click here)

Cargill Plans to Deploy Green Ships by 2030

Commodities trading giant Cargill Inc. expects some of its freight vessels to be powered by clean marine fuel before the end of this decade (gCaptain: click here)

Bimco introduces its first ship sale and purchase agreement

The association said it aimed to make the authoring, negotiation and execution of sale and purchases faster and simpler by offering a modern, comprehensive alternative to other S&P documents. Attention had also been paid to make the new agreement familiar to those used to other sale and purchase documents. (Seatrade Maritime News: click here)

How Weather Enriched Vessel Routing Data Helps Shipping Companies Make Tough Calls on Safety and Fuel Efficiency

In weather conditions close to the edge of safety limits, weather enriched vessel routing data help ship owners and operators make tough calls confidently. Extreme weather can evolve quickly, and having the right enriched weather data on hand ensures timely decisions to maintain safety. (gCaptain: click here)

Australia’s coal export boom forecast to end abruptly amid big drop in demand from China

Australia’s coal export boom will come to an abrupt end because of an “imminent and substantial” drop in purchases by China, and local coalmining communities should brace for the change, the lead author of a new study says. (Hellenic Shipping News Worldwide: click here)

Indonesia’s coal exports increase amid Russia-Ukraine conflict

The number of Indonesia’s thermal coal shipments overseas is rising following Europe’s ban on Russian coal amid the ongoing conflict in Ukraine (Hellenic Shipping News Worldwide: click here)

Dry bulk rates recover after negative reaction to Ukraine crisis

Spot rates across bulker segments as well as forward freight agreements are shrugging off any gloom related to the Russia-Ukraine situation, returning to the relatively positive supply-demand fundamentals (Lloyd’s List: click here)

Capesize bulkers hit month high off Pacific basin activity

Spot rates for smaller vessels remain relatively flat over ‘lacklustre’ week (TradeWinds: click here)

Dry market report – Week 17

Capesize: The Capesize market had a positive week overall with the BCI and 5TC route average at 2003 points and $16,609, closing at 2,136 and $17,713… Panamax: Overall, the Panamax market returned a lacklustre week with momentum lacking… Ultramax/Supramax: A rather positional market over the last week. Whilst in the Atlantic healthy demand was seen from the US Gulf, other areas had a rather lacklustre feel… Handy: With mainly positive sentiment in both basins, the BHSI made gains. This was largely due to the US Gulf which saw numbers increase day-on-day… (Baltic Exchange: click here)

29.04.2022
22.04.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,404
2,307
+97.0
+4.2%
1,296 – 5,650
BRENT ($/bbl)
109.3
106.7
+2.7
+2.5%
WTI ($/bbl)
104.7
102.1
+2.6
+2.6%
MGO ROTTERDAM ($/mt)
1351.0
1277.5
+73.5
+5.8%
MGO  FUJAIRAH ($/mt)
1351.0
1284.0
+67.0
+5.2%
MGO SINGAPORE ($/mt)
1198.0
1176.0
+22.0
+1.9%
VLSFO ROTTERDAM ($/mt)
858.0
842.5
+15.5
+1.8%
VLSFO FUJAIRAH ($/mt)
861.5
866.5
-5.0
-0.6%
VLSFO SINGAPORE ($/mt)
870.5
864.5
+6.0
+0.7%
IFO 380 ROTTERDAM ($/mt)
633.0
639.5
-6.5
-1.0%
IFO 380 FUJAIRAH ($/mt)
747.0
736.5
+10.5
+1.4%
IFO 380 SINGAPORE  ($/mt)
776.0
751.0
+25.0
+3.3%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1317.0
1284.0
+33.0
+2.6%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1198.5
1163.5
+35.0
+3.0%
EUR-USD
1.05
1.08
-0.02
-2.3%
GBP-USD
1.26
1.28
-0.03
-2.1%
USD-JPY
129.85
128.45
+1.40
+1.1%
USD-KRW
1,264.00
1,244.00
+20.00
+1.6%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
18 April 2022 - 24 April 2022

HEADLINES SELECTED BY INTERCARGO (18/04/2022 – 24/04/2022)

INTERCARGO: The green battle ahead

Since taking over from John Platsidakis as chairman of the International Association of Dry Cargo Shipowners (INTERCARGO) Dimitris Fafalios has been busy taking on the key daily battles his shipowner membership have faced such as the pandemic, the environment and latterly the war in Ukraine (Splash 247: click here)

EU members push IMO over green fuel standard

The measure, which sets stricter carbon limits on fuel over time, is crucial for pushing ships to go green, but will come at substantial cost (Lloyd’s List: click here)

Validity for Ukrainian certificates for seafarers extended until 31 December 2022

Ukrainian authorities have chosen to extend the validity of Ukrainian certificates issued to seafarers with an original date of expiry after 1 March 2022. (Safety4Sea: click here)

Port Congestion – A Q1 review of the number of Dry Bulk Vessels

The first quarter of the year comes with an overall upward trend in the number of vessels in waiting and operating status at worldwide ports. (Hellenic Shipping News Worldwide: click here)

China’s appetite for bauxite hits new record as Q1 imports jump 15.4% y/y

Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and 2021, significantly outpacing all other commodities which combined grew at an average of just 4.3% per year. (Hellenic Shipping News Worldwide: click here)

Dry bulk faces a ‘battle’ between tight demand and weak supply

A softened dry bulk market should firm up over the rest of the year despite concerns around China’s Covid-19 lockdowns, the Russo-Ukrainian war and Brazil’s rainy weather, analysts say. (Tradewinds: click here)

China’s March coal imports from Russia plunge 30% yr/yr

China’s coal imports from Russia in March fell 30% from a year earlier, as fears of sanctions impeded purchases and China generally bought less foreign coal (Hellenic Shipping News Worldwide: click here)

China’s March soybean imports from U.S. fall from previous year

China’s soybean imports from the United States plunged in March from a year earlier, customs data showed on Wednesday, as poor margins curbed buying (Hellenic Shipping News Worldwide: click here)

Dry market report – Week 16

Capesize: After several weeks of relatively flat price movement, the Capesize 5TC market has started to show a little positive sentiment with levels pushed to $15,299… Panamax: It was a limited week of trading due to Easter holidays in many regions. A gradual decline across all rates in the Atlantic this week was caused by minimal fresh demand with wide disparity between the bid/offer spread throughout the week… Ultramax/Supramax: With many countries enjoying Easter celebrations, the information flow was rather slow… Handy: It was a short week for many, but the BHSI made some positive gains after a period of negativity… (Baltic Exchange: click here)

22.04.2022
15.04.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,307
2,137
+170.0
+8.0%
1,296 – 5,650
BRENT ($/bbl)
106.7
107.6
-1.0
-0.9%
WTI ($/bbl)
102.1
103.0
-0.9
-0.9%
MGO ROTTERDAM ($/mt)
1277.5
1198.5
+79.0
+6.6%
MGO  FUJAIRAH ($/mt)
1284.0
1270.0
+14.0
+1.1%
MGO SINGAPORE ($/mt)
1176.0
1175.5
+0.5
0.0%
VLSFO ROTTERDAM ($/mt)
842.5
849.5
-7.0
-0.8%
VLSFO FUJAIRAH ($/mt)
866.5
883.5
-17.0
-1.9%
VLSFO SINGAPORE ($/mt)
864.5
913.5
-49.0
-5.4%
IFO 380 ROTTERDAM ($/mt)
639.5
631.0
+8.5
+1.3%
IFO 380 FUJAIRAH ($/mt)
736.5
736.5
0.0
0.0%
IFO 380 SINGAPORE  ($/mt)
751.0
744.5
+6.5
+0.9%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1284.0
1183.0
+101.0
+8.5%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1163.5
1142.5
+21.0
+1.8%
EUR-USD
1.08
1.08
0.00
-0.3%
GBP-USD
1.28
1.31
-0.02
-1.7%
USD-JPY
128.45
126.44
+2.01
+1.6%
USD-KRW
1,244.00
1,229.00
+15.00
+1.2%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
11 April 2022 - 17 April 2022

HEADLINES SELECTED BY INTERCARGO (11/04/2022 – 17/04/2022)

Stranded seafarers escape Ukraine, others trapped – ILO, sources

Some of the estimated 1,000 seafarers trapped in Ukraine have escaped, the International Labour Organization (ILO) and industry officials told Reuters, while voicing concern for those remaining trapped onboard ships or unaccounted for. (Reuters: click here)

477 Bulkers Are Stuck Waiting To Enter China

Dotting the sea off Chinese ports are 477 bulk cargo ships waiting to deliver resources from metal ore to grain into the country (gCaptain: click here)

Singapore’s contaminated bunkers crisis grows

Singapore’s bunkering crisis is turning into one of the most severe off-spec incidents in decades, likely leading to claims worth tens of millions of dollars (Splash 247: click here)

Singapore names Glencore as source of contaminated bunker fuel

Affected fuel was supplied to 200 ships at the port of Singapore with 80 ships hit by problems (Tradewinds: click here)

Drones to Monitor Ship Emissions in Baltic for Sulfur Content

A large-scale emissions monitoring campaign using remotely piloted aircraft is launching this month in the Baltic specifically looking for ships failing to comply with the sulfur content restrictions in the region. (The Maritime Executive: click here)

Upcoming emissions rules should lay ground for demolition derby

But international recycling regulations will need to be addressed if breakers are to accelerate maritime’s transition to greener vessels (Tradewinds: click here)

New version of ISO/IEC 27002 launched for security risks

A new version of ISO/IEC 27002 was released, with the changes primarily relating to controls that help companies address changing security scenarios and related risks. (Safety4Sea: click here)

IACS launches common requirements for remote surveys

To ensure all IACS Members have uniform guidance and requirements on remote surveys, IACS considered essential to develop minimum common requirements for the implementation of remote surveys. (Safety4Sea: click here)

Asian Shipowners’ Association confirms its position on ship recycling

The ASA reconfirmed that there is an urgent need to develop Hong Kong Convention (HKC) certified yards in multiple countries to meet this demand and for reducing risks when a pandemic like Covid-19 emerges. (Motorship: click here)

Ukraine says grain on ships in blocked Black Sea ports may deteriorate

Around 1.25 million tonnes of grains and oilseeds are still on commercial vessels blocked in Ukrainian seaports due to Russia’s invasion and part of the cargo may deteriorate in the near future, Ukraine’s farm minister was quoted as saying on Friday. (Hellenic Shipping News Worldwide: click here)

China March iron ore imports down nearly 15% y/y amid lower shipments

China’s iron ore imports fell 14.5% in March from the same month a year earlier, customs data showed on Wednesday as shipments declined following rain in Brazil, while the Ukraine war is expected to weigh on future trade flows. (Hellenic Shipping News Worldwide: click here)

Dry bulk quarterly: High commodity prices, volatile bunkers arrest freight demand

the seasonality that typically dictates dry bulk freight price movements in the second quarter is likely to take a back seat this year to the challenges being posed to the spot market by volatile bunker prices, high commodity prices and disruptive geopolitical events. (Hellenic Shipping News Worldwide: click here)

Handysize bulkers continue to slide due to limited enquiry

Average spot rates for handysize bulkers slid once again on Thursday to attain their lowest level in more than a month. (Tradewinds: click here)

 Dry Bulk Market: Capesize Market Not Very Active

Overall it was not a very active week, with limited fresh cargo support from either of the basins (Hellenic Shipping News Worldwide: click here) 

15.04.2022
01.04.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,137
2,357
-220.0
-9.3%
1,296 – 5,650
BRENT ($/bbl)
107.6
103.6
+4.0
+3.9%
WTI ($/bbl)
103.0
99.0
+4.0
+4.0%
MGO ROTTERDAM ($/mt)
1198.5
1084.5
+114.0
+10.5%
MGO  FUJAIRAH ($/mt)
1270.0
1227.5
+42.5
+3.5%
MGO SINGAPORE ($/mt)
1175.5
1076.0
+99.5
+9.2%
VLSFO ROTTERDAM ($/mt)
849.5
873.0
-23.5
-2.7%
VLSFO FUJAIRAH ($/mt)
883.5
873.0
+10.5
+1.2%
VLSFO SINGAPORE ($/mt)
913.5
853.0
+60.5
+7.1%
IFO 380 ROTTERDAM ($/mt)
631.0
647.0
-16.0
-2.5%
IFO 380 FUJAIRAH ($/mt)
736.5
684.0
+52.5
+7.7%
IFO 380 SINGAPORE  ($/mt)
744.5
670.0
+74.5
+11.1%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1183.0
1098.0
+85.0
+7.7%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1142.5
1060.5
+82.0
+7.7%
EUR-USD
1.08
1.10
-0.02
-2.1%
GBP-USD
1.31
1.31
-0.01
-0.4%
USD-JPY
126.44
122.51
+3.93
+3.2%
USD-KRW
1,229.00
1,220.00
+9.00
+0.7%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com
04 April 2022 - 10 April 2022

HEADLINES SELECTED BY INTERCARGO (04/04/2022 – 10/04/2022)

INTERCARGO: Time for reflection

With an estimated 100 merchant vessels under blockade in Ukrainian ports, it was time for reflection as INTERCARGO members, Executive Committee and Technical Committee met at the Association’s spring semi-annual events, held in London last week. (Dry Cargo International: click here)

Urgent call to protect 1,000 seafarers trapped in Ukraine

Six weeks into the war in Ukraine and over 100 vessels with 1,000 seafarers onboard are still unable to leave Ukraine ports and nearby waters. Many of the seafarers are on vessels in the port of Mariupol, which has come under heavy Russian bombardment, or on vessels in the Sea of Azov. (Seatrade Maritime News: click here)

Crew safe but owners on alert after Greek bulker boarded by pirates

Owners have been warned of an increased likelihood of pirate attacks off West Africa after an increasingly rare incident involving the boarding of a Greek bulker. (Tradewinds: click here)

Singapore HSFO contamination: Vessels experiencing engine failure

The Singapore Shipping Association (SSA) noted that it is aware of the recent cases of contaminated high-sulphur fuel oil (HSFO) bunkers delivered in the Port of Singapore, adding that some vessels have experienced significant issues. (Safety4Sea: click here)

IMO, MPA Singapore launch a database for maritime decarbonization

The Maritime and Port Authority of Singapore (MPA) and the International Maritime Organization (IMO) have jointly launched NextGEN Connect, a database which aims to bring industry stakeholders, academia and global research centers together to offer inclusive solutions on maritime decarbonization for trials along specific shipping routes. (Safety4Sea: click here)

Japan bans coal imports as it beefs up sanctions against Russia

Japan, the world’s third-largest coal importer, has said it will ban coal imports from Russia and impose a wide range of additional sanctions. (Tradewinds: click here)

European Commission Plans a Limited Port Ban on Russian Shipping

The European Commission has proposed a fifth round of sanctions on Russian commerce in response to the recently-discovered evidence of war crimes in the town of Bucha, Ukraine (The Maritime Executive: click here)

EU Countries On Global Hunt for Coal as Russian Ban Looms

LONDON, April 6 (Reuters) – European buyers are increasing shipments of coal from across the globe against a backdrop of a proposed European Union ban on Russian imports and the scramble to relieve tight gas supplies, according to data and shipping sources. (gCaptain: click here)

Traders ask Ukraine government to cancel wheat export curbs

Ukraine’s traders union UGA has asked the government to cancel wheat export curbs as stocks are very high and the shipments would not affect Ukrainian food security, the union said on Tuesday (Hellenic Shipping News Worldwide: click here)

China books biggest deal for U.S. corn since May 2021

Chinese buyers bought 1.084 million tonnes of U.S. corn, their biggest purchase of U.S. grain since May 2021, the U.S. government said. (Hellenic Shipping News Worldwide: click here)

How the $120 Billion Global Grain Trade is Being Redrawn by Russia’s War in Ukraine

Across Ukraine’s farm belt, silos are bursting with 15 million tons of corn from the autumn harvest, most of which should have been hitting world markets (gCaptain: click here)

Capesizes weigh on dry bulk complex

Continuously low iron ore volumes from Brazil have taken their toll on the capesize market, while the sub-capesize segments have been on a decline, in part due to lower demand and bunker costs. The effect of sanctions by the European Union on Russian commodities will be more apparent in the coming weeks (Lloyd’s List: click here)

Dry market report – Week 14

Capesize: Overall it was not a very active week, with limited fresh cargo support from either of the basins…Panamax: A sluggish week activity wise for the Panamax market resulting in rates continuing to come under pressure…Ultramax/Supramax: An uninspiring week in many areas as demand from China eased, leading to limited fresh enquiry and prompt tonnage availability growing in key areas such as South East Asia…Handy: It has been a turbulent week with most regions seeing declining levels due to various factors. In Asia there was limited activity party due to holidays in China… (The Baltic Exchange: click here)

08.04.2022
01.04.2022
WEEKLY CHANGES
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
2,055
2,357
-302.0
-12.8%
1,296 – 5,650
BRENT ($/bbl)
101.5
103.6
-2.1
-2.0%
WTI ($/bbl)
97.1
99.0
-1.9
-1.9%
MGO ROTTERDAM ($/mt)
1131.5
1084.5
+47.0
+4.3%
MGO  FUJAIRAH ($/mt)
1179.0
1227.5
-48.5
-4.0%
MGO SINGAPORE ($/mt)
1096.5
1076.0
+20.5
+1.9%
VLSFO ROTTERDAM ($/mt)
836.0
873.0
-37.0
-4.2%
VLSFO FUJAIRAH ($/mt)
844.5
873.0
-28.5
-3.3%
VLSFO SINGAPORE ($/mt)
823.0
853.0
-30.0
-3.5%
IFO 380 ROTTERDAM ($/mt)
622.0
647.0
-25.0
-3.9%
IFO 380 FUJAIRAH ($/mt)
688.5
684.0
+4.5
+0.7%
IFO 380 SINGAPORE  ($/mt)
682.0
670.0
+12.0
+1.8%
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt)
1049.5
1098.0
-48.5
-4.4%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
1091.0
1060.5
+30.5
+2.9%
EUR-USD
1.09
1.10
-0.02
-1.6%
GBP-USD
1.30
1.31
-0.01
-0.6%
USD-JPY
124.33
122.51
+1.82
+1.5%
USD-KRW
1,229.00
1,220.00
+9.00
+0.7%
Sources: KPI Bridge Oil, Tradingeconomics.com, Nasdaq.com, ShipandBunker.com, Exchangerates.org.uk, Poundsterlinglive.com