Category archives: Freight

Oil market waits for data for pre-holiday direction

All eyes for signs of potential demand recovery are on data announcements due on Tuesday from the American Petroleum Institute, from the US government’s Energy Information Administration on Wednesday, and from the key 4 July holiday, when increased travel is expected.   A Reuters poll showed analysts expect U.S. crude oil stockpiles fell from record …

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Capesize breaks the $30,000 level on robust shipping demand

It was another a bullish day for Capesize rates as the $30,000 level was broken due to firm shipping demand in moving iron ore cargoes. With the return of Chinese trade participants from holidays, the Capesize 5 time charter average surged by $1,137 day-on-day to $30,778 on Monday. The Baltic Dry Index (BDI) then peaked …

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Capesize gains despite China’s holidays

Capesize rates saw little gains as Chinese trade participants were away on holidays, leaving the market with thin activities. Despite the muted activities, the Capesize 5 time charter average still managed to rise by $246 day-on-day to $29,641 on Friday. The Baltic Dry Index (BDI) kept its upward momentum to 1,749 points on Jun 26, …

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