FIS API Blog
Capesize rates moved slower but gradually toward the $30,000 mark, due to the absence of Chinese trade participants during the Dragon Boat Festival holidays. Therefore, the Capesize 5 time charter average rose by $738 day-on-day to $29,395 on Thursday, despite some market concerns about the longevity of the C3 contracts. Strengthened by Capesize market, the …
Continue reading “Capesize rates slow down amid Chinese holidays”
It is the panacea for all markets, the biggest factor that could help us recover some sense of normality, the only thing that will bring a smile to suppliers across the world. It is, of course, increasing demand. The virus has caused huge disruption and left markets unable to react quickly enough to counteract …
*Crude Back in Trouble* Oil prices have continued their movements downwards as the markets digests the news of another US stocks build reported yesterday afternoon, as well as a resurgent virus in the United States. New infections are at new daily records in Florida, Texas and California. According to the EIA U.S. crude inventories rose …
Uncertainty on the high seas One would say that the forecast is looking patchy with low winds not moving many sails. The general outlook is a market softening, as a flotilla of vessels are coming off the back of crude floating storage that earned a healthy profit. This ultimately has led to an …
Capesize rates seemed to set its sight for the $30,000 level in view of high iron ore prices that lifted shipping demand for moving iron ores. The Capesize 5 time charter average hiked up further by $1,985 day-on-day to $28,657 on Wednesday, despite aggressive sell off at the Q3 contracts. Due to Capesize rally, the …
