Capesize freight rates continued to move downward, as shipping activities thinned after recent rally. The Capesize 5 time charter average then dropped by $657 day-on-day to $13,216 on Tuesday, as the March contract came under pressure and traded lower. The Baltic Dry Index (BDI) however, rose higher on the strength of Panamax market, spotting a …
Author archives: Titus Zheng Shujian
Daily DCE Review 23/2/21
Iron ore futures opened high in the morning session, only to fall later at the afternoon session, due to steel output restriction in Tangshan. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then fell by 2.94% day-on-day or RMB 33.50 to RMB 1,107/mt on Tuesday. The steel rebar contract on the …
Daily Capesize Review 22/2/21
Capesize freight rates moved downward on slow trading after last week rally, amid market optimism on better post-holidays demand. The Capesize 5 time charter average then dropped by $351 day-on-day to $13,873 on Monday, after a sluggish start to the week. The Baltic Dry Index (BDI) went up slightly with a gain of 0.65% or …
Daily DCE Review 18/2/21
Iron ore futures rallied with the return of Chinese participants and market optimism over the post-holidays demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then soared by 7.05% day-on-day or RMB 74.50 to RMB 1,131.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also hiked up by …
Daily Capesize Review 17/2/21
Capesize freight rates hiked up on market optimism with rising Panamax segment that led to market talks of using Capesize vessels for Panamax cargoes. The Capesize 5 time charter average then rose sharpy by $3,5542 day-on-day to $15,856 on Wednesday, in view of better post-holiday demand in key routes. The Baltic Dry Index (BDI) also …
Daily Capesize Review 16/2/21
Capesize freight rates rallied on stronger bunker prices and led by stronger Panamax segment that improved market sentiment. The Capesize 5 time charter average then rose sharpy by $1,857 day-on-day to $12,314 on Tuesday, due to bullish market sentiment on post-holiday demand. The Baltic Dry Index (BDI) also hiked up on better freight rates from …
Daily Capesize Review 15/2/21
Capesize freight rates rebounded from losses as some market participants expected the market to bottom out from recent slump in view of better post-holidays shipping demand. The Capesize 5 time charter average then rose by $153 day-on-day to $10,457 on Monday, amid thin market activities due to holidays season. The Baltic Dry Index (BDI) also …
Daily Capesize Review 10/2/21
Capesize freight rates continued to move downward on scant market activities due to the Lunar New Year holidays. The Capesize 5 time charter average then dropped by $610 day-on-day to $10,749 on Wednesday, amid thin market activities. The Baltic Dry Index (BDI) moved flattish and dipped slightly by 0.23% or 3 points to 1,303 readings, …
Daily DCE Review 10/2/21
Iron ore futures rose on market expectation of better steel demand for post-Lunar New Year period. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then surged up by 2.39% day-on-day or RMB 25 to RMB 1,071.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also increased slightly by …
Daily Capesize Review 9/2/21
Capesize freight rates spiraled down on thin market activities as holidays season approached for Chinese trade participants. The Capesize 5 time charter average then dipped by $698 day-on-day to $11,359 on Tuesday, after trading at a tight range. The Baltic Dry Index (BDI) also dropped by 0.84% or 11 points to 1,306 readings, despite some …