MarketsFarm — The Baltic Dry Index has fallen sharply over the past four months, dropping below 1,000 points to start the New Year. A slowdown in iron-ore activity, as high prices have had Chinese mills buying up domestic inventories rather than importing from overseas, accounted for much of the general weakness in the freight sector, […] Read more
Tag Archives freight rates — page 2
Ocean freight rates trending lower
Ocean freight index hits five-and-a-half year highs
MarketsFarm — The Baltic Dry Index (BDI) has steadily increased over the past few months, hitting its highest levels in five-and-a-half years. The BDI settled Tuesday at 2,011 points, the highest level for the ocean freight rate indicator since January 2014. The BDI has been on a steady uptrend since hitting a two-and-a-half year low […] Read more
Baltic Dry Index near 2-1/2-year lows
The Baltic Dry Index (BDI) has dropped sharply over the past two months, as declining global demand for commodities — especially from China — weighed on the economic indicator. The BDI, compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. The BDI […] Read more
Grain handle drops in CN’s first quarter
Reduced traffic in grain, fertilizers and petroleum, against increased costs from “challenging operating conditions,” ate into the first-quarter bottom line for Canadian National Railway (CN). Montreal-based CN on Monday booked net income of $741 million on total revenues of $3.194 billion for its quarter ending March 31, down from $884 million on $3.206 billion in […] Read more
Senate hands back transport bill, with changes
Federal legislation sought by farm groups wanting improvements to rail service for the grain sector is on its way back from the Senate to the House of Commons. Senators on Thursday afternoon passed Bill C-49, the Transportation Modernization Act, on third reading — but with several amendments proposed Wednesday by the standing Senate committee on […] Read more
Baltic Dry Index nears four-year highs
CNS Canada –– The Baltic Dry Index has climbed sharply over the past two weeks, rising to its highest levels in nearly four years. The BDI settled at 1,662 points on Friday, having gained 300 points since the middle of November. The index was last above 1,600 in January 2014. The BDI is compiled daily […] Read more
Baltic Dry Index hits two-year highs
CNS Canada — Ocean freight rates are trending higher, with the Baltic Dry Index (BDI) hitting its highest level of the past two years on Tuesday. The BDI, compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. It was quoted Tuesday at […] Read more
Barge glut chokes U.S. shipping sector despite record harvest
Chicago | Reuters — A glut of idled river barges is clogging Mississippi River shorelines from St. Louis to New Orleans, leaving U.S. barge companies that haul grain, coal and other bulk goods counting their losses. Even with record-large exports of corn and soybeans, typically a boon for shippers that haul grain to Gulf Coast […] Read more
Ocean freight rates pointed down, but well off year-ago lows
CNS Canada — Ocean freight rates are trending down, but are still well off the record lows seen exactly a year ago. The Baltic Dry Index (BDI), compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. The BDI was quoted at 702 […] Read more
Baltic Dry Index edging higher
CNS Canada — The Baltic Dry Index is edging back to levels not seen in over two months, and could be due for more strength, as seasonal trends often see the index rise during the summer and fall. The BDI settled at 694 points on Wednesday, having gained over 100 points over the past two […] Read more
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