Category archives: News

Capesize rates firm up on improving market

Capesize freight rates continued the upward momentum on better market sentiments and improving physical markets. The Capesize 5 time charter average inched up by $212 day-on-day to $18,749 on Friday, despite some profit-takings during the trading session. The Baltic Dry Index (BDI) also went up by 1% or 14 points day-on-day to 1,415 readings, given …

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Morning Oil Report 26/10/20

Brent crude was down 89 cents, or 2.1%, at $40.88 by 0647 GMT. U.S. WTI dropped 89 cents, or 2.2%, to $38.96. Brent fell 2.7% last week and WTI dropped 2.5%.   The weekend provided a plethora of different stories for crude and oil news this weekend in what has been a month predominantly dominated …

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Oil Through the Looking Glass 23.10.2020

*Oil Holds Near $42, Heads for Weekly Loss as Virus Cases Surge* Oil looks to post a first weekly loss in the last three as COVID looks to sweep through the northern hemisphere in a second wave, on top of mounting supply pressures from Libya, following the lifting of the 8-month blockade on oil exports …

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Declining trade volumes due to slow steel demand

A total of 1.39 million mt of iron ores was traded for the week ended Oct 23, down almost 7.33% week-on-week as compared to the 1.5 million mt recorded last week. The decline in trading volumes was due to slowing steel demand as the peak construction came to end, while trade participants prepared for the …

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