Category archives: Freight

Robust Pacific drives Capesize rates higher

Capesize market continued the good run, thanks to the robust Pacific market with better freight rates. Reflecting the better physical market, the Capesize 5 time charter average increased by $489 to $3,951 on Wednesday. With Capesize market as the driving force, the Baltic Dry Index spiked again and gained over 5.30% on-day to 477 readings …

Continue reading “Robust Pacific drives Capesize rates higher”

What to Watch as China Unveils Stimulus in Policy Meeting

China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …

Continue reading “What to Watch as China Unveils Stimulus in Policy Meeting”

China Simplifies Iron Ore Import Rules Amid Australia Virus Spat

China streamlined its inspection rules for iron ore imports amid increasing debate about whether the $43 billion trade between the two nations will be caught up in their escalating spat. While the Global Times — a tabloid run by the flagship newspaper of the Communist Party — said the simplification of rules is aimed at …

Continue reading “China Simplifies Iron Ore Import Rules Amid Australia Virus Spat”

German shipping industry heavily impacted by coronavirus pandemic

Revenues of German shipping companies declined by 30 to 40 percent on average in March and April, according to a company survey published by the German Shipowners’ Association (VDR) on Tuesday. At the same time, 44 percent of shipping companies were already recording a “substantial impairment” of their liquidity, according to the survey among 50 …

Continue reading “German shipping industry heavily impacted by coronavirus pandemic”

Capesize continues the good run with better demand

Capesize market rebound to better shipping demand, with improving freight rates in both the Atlantic and Pacific basins. Thus, the Capesize 5 time charter average rose by $587 to $3,462 on Tuesday, as some trade participants believed that the market had bottomed out. Buoyed by the better Capesize market, the Baltic Dry Index rose over …

Continue reading “Capesize continues the good run with better demand”

Dalian Corn Futures Drop to Lowest Level Since March

Corn futures in Dalian fell to the lowest intraday level in almost two months amid speculation over the possibility of more import quotas and as the market awaits a delayed auction from state reserves. China is likely to utilize its entire low-tariff corn import quota of 7.2 million tons this year due to attractive import …

Continue reading “Dalian Corn Futures Drop to Lowest Level Since March”