Category archives: Freight

Iron ore softer as pundits exchange views on supply outlook

Iron ore futures were a touch softer on Wednesday as investors assessed the supply outlook for iron ore following the recent closure of Vale’s Itabria complex.   Investors grew concerned over tight supply after Vale was ordered to shut down Itabria, which accounts for over 10% of Vale’s output, in the state of Minas Gerais …

Continue reading “Iron ore softer as pundits exchange views on supply outlook”

Oil Through the Looking Glass 10/6/20

The Glut is Back Those of you who have been watching your crude ticker this morning will see many red numbers on the screen. The reason for this has been the switch of sentiment to concerns about oversupply. We have had reports late last night that the API have predicted a large build in US …

Continue reading “Oil Through the Looking Glass 10/6/20”

Capesize pushes ahead with iron ore rally

Capesize rates continued to push forward with firm iron ore demand that pushed for more shipping activities in the Pacific market. Thus, the Capesize 5 time charter average hiked up by another $310 day-on-day to $8,055 on Tuesday, for the second consecutive day-rise for the week. Following the rally, the Baltic Dry Index (BDI) broke …

Continue reading “Capesize pushes ahead with iron ore rally”

China steel imports boom, exports dip, iron ore softer

Iron ore futures were a touch softer on Tuesday as investors assessed outlook for iron ore.   China imported 1.25 million mt of finished steel in May, up 27.2% month-on-month or up 30.3% year-on-year, according to customs data. During the same period, China’s finished steel exports fell by 30.4% month-on-month or 23.4% to 4.4 million …

Continue reading “China steel imports boom, exports dip, iron ore softer”

Capesize rides along with the iron ore bull run

Capesize rates continued the bullish run over Brazilian supply concerns, while high construction activities in China support iron ore demand. As such, the Capesize 5 time charter average jumped by $438 day-on-day to $7,745 on Monday, after more European players entered the market and pushed up rates. The Baltic Dry Index (BDI) followed the rally …

Continue reading “Capesize rides along with the iron ore bull run”