Category archives: News
Fuel Oil Daily Evening Report
Oil Through the Looking Glass 6/8/20
*OPEC Middle East Production Nudging Up Production from the Middle East moved up in July after Saudi Arabia, Kuwait and UAE reversed the voluntary production cuts above and beyond the official cut agreement. The largest increases came from Kuwait and UAE, followed by the Saudis. According to Bloomberg the four nations boosted crude and condensate …
Steel and Scrap News 6/8/20
*Physical scrap breaks the $280/t CFR barrier Physical scrap moved higher this week, with a handful of fixtures reported late last week and early this week. The most recent fixture included a Baltic based seller transacting an HMS 80:20 cargo at $283/t CFR. Furthermore, a Benelux based seller is reported to have transacted a 50:50 …
Capesize loses steam after recent rally
The Capesize market suffered a slip up after recent rally with less shipping enquires in both the Pacific and Atlantic market. The Capesize 5 time charter average then dropped by $304 day-on-day to $20,383 on Wednesday, due to some selling pressure before seeing a mini revival later at afternoon session for better rates. Thus, the …
DCE extends gains on better downstream demand
Iron ore futures rallied on bullish market sentiment since the start of week on better downstream demand from China. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange rose by 2.88% or RMB 25.50 day-on-day to RMB 910 per tonne on Thursday. Following the rally, the Shanghai Futures Exchange also went up …
Continue reading “DCE extends gains on better downstream demand”
Steel & Scrap Morning Report
FIS Fuel Oil Morning Report 06/08/2020
Good morning. Brent futures rose 9 cents or nearly 0.2% to $45.25 by 4:36 am GMT, while WTI futures eased 3 cents, or 0.1%, to $42.16 a barrel. Global COVID-19 cases stand at 18,727, 700, while total deaths had exceeded the 700,000 mark, according to data from John Hopkins University. While the number of daily …
FIS CASTAWAY – EPISODE 19
What is going on with this iron ore market? How come freight is flying again? Why is nothing moving on oil? Memes aside, join the team to discuss the week’s movements and idiosyncrasies. Available now on the FIS website (www.freightinvestorservices.com/media ) Spotify https://open.spotify.com/show/7yMLsm5s8tLtrCQr7bG8wD?si=FW6Rvj9HRjClAx3vRjq8iw And Apple https://podcasts.apple.com/sg/podcast/fis-castaway/id1507094242 Disclaimer: This podcast is a marketing communication and is not based upon …