Arguably the largest % gain ever during a 32-day period for the Capesize index having moved 1,449% higher (USD 28,865), the index is now within USD 7,000 of the 2019 high. Above this level will be unchartered territory for the 5TC Capesize index which replaced the old index back in 2014. We have seen moves …
Author archives: Edward Hutton
Tanker News Update 1/7/20
VLCC getting comfy? After seeing a dramatic fall in rates over the past weeks TD3c seems to be settling around the mid WS30’s with the last day of Q2 seeing the years low at WS34.79, a 188.79pt drop from the year high of WS223.58 on 16th March. Freight rates also seem to be softening in …
Ferts in Focus 1/7/20
AG paper supported at $220/t AG urea paper has seen support this past week around the $220 level on the prospect of continued Indian demand, but hasn’t traded this past week. India was only able to secure 628,000 tonnes in their most recent purchasing tender, well short of forecast requirements. Combined with double the national …
Oil Through the Looking Glass 1/7/20
*Europe Next on the Crude Splurge List* After the reports a few weeks ago of the Chinese increase in crude buying, it seems that this is now waning. China has bought so much crude that its inventories have hit a record 847.50 million barrels in the week that began June 22, Kpler data showed. With …
Freight Intraday Morning Technical
Oil and Ore Intraday Morning Technical
Fertilizer Financial Markets Commentary/Curves
Morning Oil Note 1/7/20
Oil futures rose this morning after lower than expected crude inventories in the United States, and despite an increase in coronavirus cases lightly obfuscating a positive demand outlook. At 3.45 am GMT front-month Brent futures were up 48 cents (1.2%), to $41.75 a barrel. WTI was up 54 cents (1.4%), at $39.81 a barrel. According …
