Recovery Quickens as PBOC Vows Support Chinese industrial commodities began the week on the front foot after the central bank pledged more powerful policies to combat the coronavirus’s hammer blow to growth. The evidence of the past few days, from shrinking crude and metals stockpiles, to the rebound in car sales and usage, suggest that …
Category archives: News
China’s April Soybean Imports Fall to Lowest in Five Years
China’s April Soybean Imports Fall to Lowest in Five Years Soybean imports by China fell 12% in April from a year earlier on delayed loadings from top supplier Brazil and as the coronavirus pandemic hurt demand from restaurants. * The country shipped in 6.7 million tons in April, compared with 7.6 million tons in the …
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Ship Fuel Supply May Rise as Virus Hits Other Oil Products
Ship Fuel Supply May Rise as Virus Hits Other Oil Products The demand destruction in transportation fuels caused by the coronavirus pandemic is providing an incentive to produce more IMO 2020-compliant ship fuel, according to a report from Energy Aspects dated April 30. Decline in jet fuel demand could easily push up diesel yields by …
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Oil Tankers Drag Out Sailing Times as Surplus Snarls Ports
Oil Tankers Drag Out Sailing Times as Surplus Snarls Ports When the supertanker New Vigorous arrived at the port of Antifer in northern France last Saturday, it made a small bit of maritime history. The vessel, laden with 2 million barrels of crude, became the first in almost two years to make the voyage from …
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Unexpected Gain in Chinese Exports Is Seen as Temporary
Unexpected Gain in Chinese Exports Is Seen as Temporary China’s exports unexpectedly rose in April aided by stronger shipments to South East Asia, though with the coronavirus pandemic damaging global demand that increase is likely to be temporary. Imports fell. Exports rose 3.5% in dollar terms in April from a year earlier, while imports dropped …
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Brazil Caps Best Month Ever for Soy Exports Amid Forex Woes
Brazil Caps Best Month Ever for Soy Exports Amid Forex Woes (Bloomberg) — Brazil never shipped so many soybeans in a single month as it did in April. A combination of currency weakness, record harvest and logistical improvements helped the nation export 16.3 million metric tons last month, according to preliminary data released by the …
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Capesize Index
Capesize Index C2 Tubarao to Rotterdam (long tons ) 160000 3.706 -0.050 C3 Tubarao to Qingdao 160000 or 170000 9.206 -0.304 C4 Richards Bay to Rotterdam 150000 3.910 -0.040 C5 Wes t Aus tralia to Qingdao 160000 or 170000 4.086 -0.150 C7 Bolivar to Rotterdam 150000 or 160000 4.605 -0.195 C8_14 Gibraltar/Hamburg trans atlantic round …
Conflicting Views on Iron Ore – Two Sides of the Fence
Conflicting Views on Iron Ore – Two Sides of the Fence Conflicting views in the Iron ore sector this morning with Citigroup calling for iron ore prices to fade to USD 70/ton as we approach May and seasonal weakness in China steel demand. The bank noted that the decline is taking longer than anticipated due …
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DCE rebounds over higher China’s infrastructure spending
Chinese futures rose on Wednesday despite some earlier losses at the start of the session. As such, the most-actively traded iron ore futures for September 2020 delivery on the Dalian Commodity Exchange (DCE) rose by 1.16% day-on-day to RMB 613 per tonne on Wednesday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also …
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Capesize under pressure from crude sell off
Capesize paper market went downhill on lower trading activities over bearish market outlook and falling crude prices. Trade participants were concerned over the sharp plunge in crude prices and its impact on bunkers and freight rates. As such, Capesize 5 time charter average went down by $525 to $9,556 on Tuesday, after a sharp sell …
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