Monthly archives: August 2020

Capesize rates fall despite higher rates for Brazil routes

Capesize freight rates took a slight dip despite a bullish physical market run with better rates for the Brazil routes. Thus, the Capesize 5 time charter average went for slight correction and fell by $121 day-on-day to $18,775 on Thursday. Then, the Baltic Dry Index (BDI) followed the dip and went down by 0.33% day-on-day …

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DCE ends the week higher on robust steel demand

Iron ore futures closed the week on higher notes due to robust steel production as well as concerns over shipping disruptions from Typhoon Bavi. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose by 1.40% or RMB 11.50 day-on-day to RMB 832.50 per tonne on Friday. Then, the steel …

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Oil Through the Looking Glass 28/8/20

*As Laura exits, U.S. energy firms tally damage As the tail end of Laura sweeps north east and is downgraded to tropical storm, US energy firms are organizing for crews to be sent to offshore rigs to assess the damage caused by the 150mph winds. Power was cut from the homes of 650,000 people. Equinor …

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Gone With the Wind – Ship Shape Commodity Weekly

Dominating the news this week has not been the hopeless story of a Southern girl’s love for a married man, but rather the twin storms in the Gulf of Mexico. The bluster behind this story left oil and tanker markets in a spin with impending disruption and shutdowns.   As of late Thursday, Hurricane Laura …

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Morning Oil Report 28/8/20

Good morning all. Brent futures for October, set to expire on Friday, rose 2 cents to $45.11 a barrel at 4:09 am GMT. The November contract climbed 3 cents to $45.63. WTI futures were down 3 cents, or 0.1%, to $43.01 a barrel.   Hurricane Laura, a Category 4 storm, made landfall along the USGC …

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Iron Ore DCE January Daily Technical Review Aug 28th

Verdict – Short-term neutral. DCE iron ore followed the rebound of shanghai equity, which has corrected over the entire week. Be aware of short-run money game since the volume boost up in some typical time spots of scalpers, for example, Asian opening, before T-break and after Afternoon starts. Iron ore September contract push up more, …

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Daily Ferrous Physical Review Aug 28th

Ferrous Market –    MySteel 45 ports iron ore inventory at 113.1 million tonnes, up 687,600 tonnes w-o-w. Daily evacuation 3.11 million tonnes down 167,000 tonnes w-o-w. Australia iron ore on ports at 57.35 million tonnes down 504,700 tonnes w-o-w. Brazil iron ore on ports at 29.80 million tonnes up 1.35 million tonnes w-o-w. 188 ships …

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