shipping

The Baltic Dry Index (BDI) has hit the highest point all year, staging a stunning rebound that is earning dry bulk shipping companies substantial amounts of profit for the time being. The latest BDI rally has been particularly spectacular given the massive amount of new vessel supply, which generally sinks rates all else equal, it has overcome. The sudden spike in new vessel supply this year is well by this chart from Johannes Moller at Danske Bank. Note the BDI rallied against this upward slope.  

The Baltic Dry Freight Index has touched a 14-month high of 4,381. The surge in dry bulk rates over the past two weeks was due to increased port congestion. Strong iron ore and coal imports into China which had intensified ship congestion outside key ports.  

Every day dozens of WFP chartered vessels ply the oceans of the world en route to distant ports. Laden with food the vessels steer their course towards the continents of Asia, South America and Africa where the need is often greatest. The beautiful highlands of Ethiopia have long struggled to support that proud nation's burgeoning population but have often been unable to meet the demand.  

DALLAS, Nov. 20, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring shipping transportation company Excel Maritime Carriers Ltd. (NYSE:EXM). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision. The investment report on Excel Maritime Carriers Ltd. (NYSE:EXM) should be of particular interest to comparable companies: Diana Shipping Inc. (NYSE:DSX) DryShips In  

Customs officials say they got a surprise when they found 316,000 glass bongs disguised as Christmas ornaments at the Los Angeles harbor. U.S. Customs and Border Protection said Thursday that agents found the highly decorated drug pipes in 860 boxes shipped from China. The cargo, estimated to be worth more than $2.6 million, had been described as glass figures and Christmas ornaments.  

After a sharp weeklong rally, share prices in the volatile dry-bulk shipping sector retreated dramatically Thursday as the broader equities markets sold off and shipping rates, in the words of one analyst, "hit a wall." The Baltic Dry Index, which tracks spot-market shipping rates across a range of dry-bulk vessel sizes, inched higher by 18 points Thursday, but it was the largest ships on the seas, the capesizes, that were experiencing the rate pressure. The average rate on the spot market for a capesize

after having secured 15 capesize cargoes already this week.   -Omar Nokta

 

This company is an international provider of marine dry bulk transportation services with cargoes including coal, grain and iron ore. SB has been consolidating in a broad cup-and-handle formation since last November. But now, with Baltic dry bulk shipping rates going up, the stock has broken from the bullish formation with a trading target of $12.  

Enhancing Bahrain's region-leading position in the field of shipping and ports, the conference is an important annual forum on shipping, sea ports and maritime transportation. Last year's Trans Middle East conference was held in the UAE and attracted 350 international sea and air freight conference delegates plus 80 international sea and air cargo-handling exhibitors and sponsors. The delegates discussed the latest issues affecting the development of cargo shipping and transport logistics throughout Eur  

A slow recovery in global trade and tight finance could set the stage for a wave of consolidation in the trillion-dollar shipping industry, as it gears up for a second straight year of turmoil in 2010. Hundreds of empty container ships, bulk carriers and others — the so-called "ghost ships" — have been idled in deep-sea ports of Asia and Europe this year, following a slump in freight as the global financial crisis caused world trade to plunge. Industry watchers estimate as much as 15 percent of the worl

So it is positive for the dry bulk shipping sector, which carries iron ore, coal and other resources, but less so for container liners that rely on exporting goods to consumers in the west   -HSBC