Category archives: Freight

Futures fall but iron ore supply chain ‘super-stretched’

Iron ore futures fell below $100 on Monday amid a seasonal slowdown in Chinese activities.   According to latest data from Steelhome, Chinese iron ore port stockpiles gained for the first time since April to 108.4 million tonnes (up +0.56% w/w), as Australia and Brazil ramped up its iron ore production. Cargoes shipped via Australia’s …

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US rig count falls as Asia refiners stall

Both WTI and Brent crude contracts rose about 9% last week and Brent crude futures have flipped into backwardation, so that oil for immediate delivery costs more than that to be provided later, usually an indication of tightening supply.   In Canada and the United States, the number of operating oil and natural gas rigs …

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Capesize hits a new norm at $25,000 level

Capesize rates had a meteoric rise for the week, jumping from $13,000 base level to over $25,000 level by the end of week on good shipping demand. The Capesize 5 time charter average made a gain of $231 day-on-day to $25,511 on Friday, spotting one of the smallest gains of the week as compared to …

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