HEADLINES SELECTED BY INTERCARGO (01/01/2025 – 20/01/2025)
INTERCARGO quality panel expansion enhances sector collaboration
The International Association of Dry Cargo Shipowners (INTERCARGO) has announced a strategic development in meeting the needs of its ever-growing global membership. (Int’l Bulk Journal: click here)
The Houthis are still calling the shots in the Red Sea
The announcement of a ceasefire opens the possibility of shipping’s return to Bab el Mandeb transits, but much of the industry remains beholden to what the militant group decides to do next (Lloyd’s List: click here)
Dark fleet, decarbonisation and geopolitical pressures remain IMO’s top maritime focus areas in 2025
Secretary-General Arsenio Dominguez has highlighted several areas high on the agenda of the International Maritime Organization (IMO), as it embarks on a busy work schedule for 2025. (ShipManagement Int’l: click here)
IMB: Piracy Declined in 2024, But Seafarer Hostage-Taking is on the Rise
Piracy at sea is less common than it used to be, according to the ICC’s International Maritime Bureau, but the risk to crewmembers remains high – particularly in hotspot regions like the Singapore Strait. (The Maritime Executive: click here)
Dry bulk industry pays tribute to outgoing INTERCARGO Chairman Dimitri Fafalios
Leading figures across the dry bulk shipping sector have joined in paying tribute to Dimitri Fafalios, who concluded his chairmanship of the International Association of Dry Cargo Shipowners (INTERCARGO) on 31 December 2024 after six years of distinguished leadership. (Shipmanagement Int’l: click here)
Dry bulk prices fall in January sales
Recent broking reports reveal that secondhand prices in dry are falling sharply, particularly for Chinese-built tonnage. (Splash 247: click here)
Dry bulk remains strong for North Sea Port
In 2024, the North Sea Port companies recorded a volume of 66.3 million tons of seaborne cargo transhipment, an increase of 0.7% compared to 2023. (Dry Cargo Int’l: click here)
Rio Tinto iron ore volumes dip on lower Chinese demand in final quarter
Rio Tinto’s iron ore exports took a hit during the fourth quarter, and in 2024 overall, mirroring the long-standing weak demand for capesize bulkers that has bled into 2025. (TradeWinds: click here)
Chinese buyers switch to cheaper Brazilian soybeans ahead of Trump return
Chinese soybean processors have turned to competitively priced Brazilian cargoes instead of U.S. oilseeds, amid fears Washington will impose import tariffs… (Hellenic Shipping News Worldwide: click here)
Baltic index down for third straight session on lower capesize, supramax rates
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities fell for a third consecutive session on Thursday… (Hellenic Shipping News Worldwide: click here)
Dry market report – Week 3
Capesize: The Capesize market experienced a mixed week, beginning strongly before losing ground as the days progressed…Panamax: The Panamax market experienced a mixed and volatile week. After a slow start, there were signs of recovery by mid-week…Ultramax/Supramax: The general malaise in the sector continued throughout the week as limited fresh enquiry appeared, and prompt tonnage remained readily available…Handy: Another challenging week for the sector with rates in both the Atlantic and Pacific regions facing continued downward pressure… (Baltic Exchange: click here)
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17.01.2025 |
10.01.2025 |
WEEKLY CHANGES |
WEEKLY CHANGE % |
Baltic Dry Index |
1,023 |
1,048 |
-25.0 |
-2.4% |
BRENT ($/bbl) |
80.8 |
79.7 |
+1.1 |
+1.3% |
WTI ($/bbl) |
77.4 |
76.6 |
+0.8 |
+1.0% |
MGO ROTTERDAM ($/mt) |
719.5 |
682.5 |
+37.0 |
+5.4% |
MGO FUJAIRAH ($/mt) |
791.0 |
762.5 |
+28.5 |
+3.7% |
MGO SINGAPORE ($/mt) |
752.5 |
707.0 |
+45.5 |
+6.4% |
VLSFO ROTTERDAM ($/mt) |
557.0 |
541.0 |
+16.0 |
+3.0% |
VLSFO FUJAIRAH ($/mt) |
598.0 |
573.0 |
+25.0 |
+4.4% |
VLSFO SINGAPORE ($/mt) |
613.0 |
582.5 |
+30.5 |
+5.2% |
IFO 380 ROTTERDAM ($/mt) |
476.5 |
458.5 |
+18.0 |
+3.9% |
IFO 380 FUJAIRAH ($/mt) |
492.5 |
464.0 |
+28.5 |
+6.1% |
IFO 380 SINGAPORE ($/mt) |
521.0 |
483.5 |
+37.5 |
+7.8% |
LSMGO ROTTERDAM, MAX 0.1% SULFUR DISTILLATE ($/mt) |
719.5 |
682.5 |
+37.0 |
+5.4% |
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt) |
752.5 |
707.0 |
+45.5 |
+6.4% |
EUR-USD |
1.03 |
1.03 |
0.00 |
+0.4% |
GBP-USD |
1.22 |
1.22 |
0.00 |
-0.3% |
USD-JPY |
156.29 |
157.64 |
-1.35 |
-0.9% |
USD-KRW |
1,458.00 |
1,473.00 |
-15.00 |
-1.0% |
Sources: Trading Economics, ShipandBunker.com, Exchangerates.org.uk |
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