Category archives: Freight

Capesize surges to year-high level on strong iron ore demand

Capesize rates hit a record high for the year as strong iron ore demand continue to support shipping demand. The Capesize 5 time charter average reached $14,786 on Tuesday, the highest level in the year and up $1,489 at day-on-day basis. Buoyed by the robust Capesize market, the Baltic Dry Index shot up beyond the …

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Oil Through the Looking Glass 16/6/20

*Covid-19 vs Supply Cuts* The tussle between bearish and bullish news continues for crude. Coronavirus cases rose to more than 8 million worldwide yesterday, with infections surging in Latin America, while the United States and China are dealing with fresh outbreaks. On the supply side the UAE energy minister said that he had confidence OPEC+ …

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Capesize moves up despite slight cooldown

Capesize rates moved up again on bullish market sentiments for both the Pacific and Atlantic basins. The Capesize 5 time charter average rose by $887 to $13,297 on Monday, reaching new highs for the prompt, while testing the recent highs on Q4 and Cal 21. The Baltic Dry Index also increased by 5.42% to 973 …

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