DRY BULK

    China imported 7.77 million tonnes of soybeans in March, up 42% on the 5yr average for the month. Jan-Mar imports of 21.2 million tonnes are record and up 19% on the year. Cargoes from both USA and Brazil were arriving at Chinese ports in March.

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    Baltic #Capesize index +0% to $26k/d

    Brazil/China +1% to $24k/d

    C5TC:

    May FFA +5% to $29k/d

    Jun FFA +5% to $27k/d

    P4TC:

    May FFA +8% to $20k/d

    Jun FFA +6% to $19k/d

    S10TC:

    May FFA +5% to $19k/d

    Jun FFA +3% to $18k/d

    "Interpreting YTD Chinese economic data as it relates to #drybulk. All signs point to higher rates:"

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    Kad odrastem prestat cu uzimati terapiju i pretvarat cu se da sam Angelina...

    #DryBulk #Shipping prompt month FFAs rising further. Especially Panamaxes are showing strength:

    May FFA +12% to $20.4k/d

    Jun FFA +8% to $19.5k/d

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    Baltic Dry-indeksen stiger 1,8 prosent til 2.178 poeng, melder TDN Direkt og viser til The Baltic Exchange.

    Oppsvinget drives av tre av fire segmenter:

    Innen capesize-segmentet er det oppgang på 0,3 prosent. Inntjeningen ligger i snitt på 26.131 dollar pr. dag, etter å ha vært nede på 18.382 dollar før påske. Dette er det høyeste nivået siden midten av januar.

    Panamax-ratene + 6,8 prosent. Gjennomsnittlig dagrate her ligger på 16.821 dollar, etter å ha vært oppe i over 26.000 like før påske.

    Innen handysize er det nedgang på 1,3 prosent, til 16.108 dollar pr. dag i snitt.

    Supramax-ratene er opp 0,5 prosent. Her rapporteres det om et snitt på 19.615 dollar dagen.

    Ili da jednostavnije izgleda jos nisam taj norveski savladao :D

    Baltic Dry Index Rises 1.78% to 2,178
    Capesize +0.29% to $26,131
    Panamax +6.82% to $16,821
    Supramax 58k tons +0.52% to $19,615
    Handysize -1.25% to $16,108

    Summer Coal and Power Shortage Warnings in China Have Already Begun

    • Back in early October, we first began warning of a likely winter coal shortage in China which ended up playing out as anticipated. We first discussed this issue in our October 5th Weekly China Report when China's Electricity Council began expressing warnings particularly for the northeast. Flash forward to today, what is very notable to us is that we have now seen our first warning of a possible summer shortage for both coal and electricity. Authorities in Zhejiang province (which is located on the eastern coast of China) have begun warning of a possible shortage of coal and electricity for this summer. Specifically, they have warned that July and August could experience tightness and shortages.
    • It is encouraging for the seaborne coal market that summer warnings have already begun. Also of note is that coal stockpiles at northern ports have also continued to decline. The amount of coal stockpiled at major northern ports in China has fallen today to 23.4 million tons. This is down by 700,000 tons (-3%) from the end of last week, down year-on-year by 4.2 million tons (-15%), and marks the lowest amount since February. Overall, coal import prospects are becoming more encouraging (coal and power shortages, of course, are not guaranteed and the warning is still preliminary). As we have also discussed in recent work, several accidents at Chinese coal mines have occured in recent days and there remains a chance that domestic coal production growth will be restrained to an extent due to regional and nation coal mine inspections and safety restrictions. Going forward, we will be continuing to monitor these issues very closely and will be continuing to publish updates.

    Very bullish call from Goldman. Copper at $15,000 a tonne by 2025.

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    FFAs closed at intraday highs, as some positive fixtures instilled optimism into the market

    C5TC:

    May FFA +9% to $29.9k/d

    Jun FFA +8% to $28.0k/d

    P4TC:

    May FFA +16% to $21.1k/d

    Jun FFA +13% to $20.5k/d

    S10TC:

    May FFA +11% to $20.1k/d

    Jun FFA +10% to $18.8k/d