Category archives: News

Tanker News Update 9/12/20

*MEG Eases her Tensions*   This year has seen numerous ‘events’ between the U.S. and Iran regarding tankers and Venezuelan oil. With tensions between all a rollercoaster journey, you could say it’s been an ‘interesting’ year for geopolitics in the Middle Eastern Gulf.   Within just the last few months we have seen various displays …

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DCE pauses for a break after recent rally

Iron ore futures remained steady, after a slow start at the opening session, but only to see more upticks at the afternoon session toward the close. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange closed flat at RMB 918.50/mt on Wednesday, after a choppy trading session. The steel rebar …

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Capesize rates weaken on slow shipping demand

Capesize freight rates continued to head south on weakening freight rates, as shipping demand dipped in both basins, amid the oversupplied market. The Capesize 5 time charter average went down by $1,159 day-on-day to $10,607 on Tuesday, due to the deteriorating C5 market. The Baltic Dry Index (BDI) also dropped by 3.53% or 35 points …

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