UK dry bulk news

At a global level the forecast for major wheat exporters' stocks have been raised with the USDA trimming its own forecast for domestic stock at the close of the season.

The Baltic Exchange has reported that there has been a slow start to the 2024 dry bulk market with limited fresh enquiry in the ultramax sector and a sedated start for the panamax sector.

The World Shipping Council, the International Chamber of Shipping and BIMCO have expressed their thanks to the 12 nations that have jointly condemned the attacks on ships in the Red Sea.

Wheat prices extended their soft start to 2024, weighed by crop improvement in the top US growing state with European wheat exports witnessing competitive growth from increased Ukrainian grain exports.

The Baltic Exchange has reported that the dry bulk shipping market has seen another week of corrections during the third week of December.

CRM Agri reported that low grain prices have encouraged Chinese purchases of US grain whilst EU wheat exports continued to struggle.

At the end of November the positive momentum seen throughout the month continued with all bulk vessel classes seeing strong growth.

Associated British Ports has unlocked a 200+ acre development opportunity at the UK’s busiest ports complex.

Initially gloomy market sentiments were replaced by positivity by the end of the week according to the Baltic Exchange.

Mixed wheat prices have led to Chinese buyers importing foreign wheat amid weakened prices according to CRM Agri.