Daily Capesize Review 24/8/21

Capesize freight rates continued its upward momentum, though at slower rate amid tight shipping tonnage with heavy congestion at Chinese ports. The Capesize 5 time charter average, then rose by $764 day-on-day to $51,472 on Tuesday, despite some standoff between the charterers and owners. The Baltic Dry Index (BDI) then hiked up higher at $4,201, …

Tanker Morning Report 25/08/21

News Headlines:     Oil retreats after two-day rally on supply issues (Reuters)     Oil prices fell on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico’s production and signs that China, the world’s biggest importer, has curbed a recent coronavirus outbreak. ANZ commodity …

Daily Capesize Review 23/8/21

Capesize freight rates got off to a slow start at the week, as most participants were in collecting mood, but nevertheless the market fundamentals remained good with firm rates. The Capesize 5 time charter average, then rose by $977 day-on-day to $50,708 on Monday, as the index went above the psychological $50k mark. The Baltic …

Tanker Morning Report 24/08/21

News Headlines:           Shipping Moving Towards Zero-Emission Period, but Pace is Still Quite Slow (Hellenic) More needs to be done, in order for shipping to transition to the zero-carbon era. The industry is estimated to be responsible for approx. 3.0% of global CO2 emissions, but several scientists have projected that the …

Daily Capesize Review 20/8/21

Capesize freight rates maintained bullish momentum with strong showings in both basins, amid tightening tonnage supply. The Capesize 5 time charter average, then rose by $2,370 day-on-day to $49,731 on Friday, extending the bullish run. The Baltic Dry Index (BDI) also continued its record-breaking upward movement reaching high levels of $4,092, up 2.92% day-on-day, due …