Trade War Finally Hits Commodity Shipping, Confounding Optimists

By Prejula Prem and Firat Kayakiran (Bloomberg) -- The commodity shipping industry was expected to sail through the trade war unscathed. Tariffs were being slapped on hundreds of goods and yet shipping rates for dry bulk -- the segment that hauls billions of tons of coal, iron ore and crops around the globe -- kept rising. No more. The Baltic Dry Index is within a whisker … [Read more...]

Baltic Exchange to Launch New Container Shipping Index

LONDON, April 25 (Reuters) - London's Baltic Exchange is developing a container shipping index with Hong Kong-headquartered group Freightos in another sign that the centuries-old business is moving into new markets. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates, including ones used by the … [Read more...]

U.S. Fund Manager to Launch First ETF for Shipping Futures

By Jonathan Saul and Maiya Keidan LONDON, March 8 (Reuters) - U.S.-based fund manager Breakwave Advisors is launching the first exchange-traded fund (ETF) focusing on freight futures, reflecting growing investor interest in shipping as it emerges from a near-decade long crisis, a regulatory filing showed. Around 90 percent of traded goods by volume are transported by … [Read more...]

Baltic Index Falls 10% This Week; Capesize Index Down 17%

Feb 2 (Reuters) - The Baltic Exchange's main sea freight index, ended the week over 10 percent lower on Friday, as rates fell across all vessel segments, pushing the index to near 6-month lows. * The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 19 points, or 1.71 percent, at 1,095 points, touching its lowest level … [Read more...]

Baltic Dry Index to Become Tradable After Benchmark Changes

By Jonathan Saul LONDON, Feb 1 (Reuters) - Changes to the Baltic Exchange’s main sea freight index has created the possibility of it becoming a tradable instrument for the first time, industry officials said on Thursday. With about 90 percent of traded goods by volume transported by sea, non-specialist investors want a way capitalise on a recovery in shipping as it emerges … [Read more...]