Category archives: News

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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Morning Oil Report 9/12/20

Brent crude futures slipped 18 cents, or 0.4%, to $48.66 a barrel by 0450 GMT before gaining 40 cents by 0730GMT to print $48.93, having gained 5 cents the previous day. U.S. West Texas Intermediate (WTI) crude futures dropped 15 cents, or 0.3%, to $45.45, after shedding 16 cents on Tuesday.   API figures released …

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