Dry Bulk

The swift start of wheat harvest in Russia & Ukraine, to 38% & 57% completion respectively, brings the perspective of a quick ramp-up of wheat exports from the Black Sea.

At current pace of bauxite mining expansion, rainy seasons in Guinea typically reduce exports by -15% relative to adjacent months, it has nevertheless allowed exports to grow ~20% on a year-on-year basis.

Despite rising +10% since May’24, soybean stockpiles at Chinese ports still have room for more!

Up +4% YoY against record inventories at Chinese ports, weekly global iron exports reached a new record at 36.6Mt/wk last week.

In-line with Indonesian coal output up +5% YoY so far in 2024 and the Association of Indonesian Mining Professionals still forecasting a +104Mt YoY increase to…

In May’24, China’s crude steel production surprised to the upside, up +8% MoM or +3% YoY, on the back of electric-arc furnaces powered…

Same cause, same effects? With China’s property crisis still unravelling, with more developers ordered to…

Doubling in a year time, index for containers from China are approaching a 2-year high.

Invincible seasonality? With strong exports from Australia & Brazil, global weekly iron ore shipments soared to a new record in 2024 of 35Mt/Wk.

Up +16% year on year! The cumulated Agri exports from South America at end of April 2024 with a record of 76.3Mt with Argentina’s corn and oilseed leading the push thanks to normal crops.

In the first 4 months of 2024, exports of steel products and vehicles from China have increased by ~25% compared to one year earlier.

After experiencing a difficult start of the year and having endured two derailments in 1Q’24, exports of Swedish iron ore via the Norwegian port of Narvik have…

In 2023, Indonesia’s coal production surged to a record-breaking 775Mt and exceeding the government’s initial target of 694Mt.

New milestones for Bulk carriers? In 1Q’24, the utilization of the Bulk Carriers fleet (>10kt-Dwt) rose +9% YoY to a new seasonal record of 7.5 trillion ton-miles during a Q1.

Despite milder weather, China’s power generation still progressed +4.2% YoY in Mar’24 and +8.1% YoY in 1Q’24 for a total of 2.2PWh (i.e. 2.2 million of billion watt-hour)!

Iron ore exports from Brazil have recovered to 7.4Mt/wk, at a seasonal record for the second time in 2024.

With corn harvest in Argentina underway and nearly 6% complete (+2% WoW), the full crop in 2024 is…

It took 2 consecutive power failures at the worst possible moment for container ship M/V Dali to ram and totally…

Healthy supply of iron ore and prices relaxing through 1Q’24 have encouraged Asian steel mills to accelerate the pace of restocking in the past month.

Price sensitivity or seasonal evolution? Climaxing at 2.8Mt/wk at the start of 2024 and mirroring SGX iron ore prices then over 140$/t, iron ore exports from…