Category archives: Freight
OPEC+ battles to cut, investors bet to buy
OPEC+ is responding to the oil market’s collapse with an urgency never seen before. The alliance’s program of production cutbacks this month is well on the way to trimming 9.7 million barrels of daily crude output – roughly 10% of global supplies, according to tanker-tracking data, interviews with physical crude traders and refiners, and assessments …
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Soybeans Advance on Brightening Prospects for Demand in China
Soybean futures climbed as life gradually returns to normal in China with more people dining out and more schools reopening, a trend set to increase demand for everything from meat to cooking oil in the top consumer. Soybean meal futures in Dalian headed for their best daily gain since March. Restarting schools and restaurants is …
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Bulk Shipping ‘At The Very Bottom’ as Carrier Earnings Plunge
Vessels carrying dry bulk commodities are struggling to make a profit because of the double hit of lower seasonal demand for cargoes and the Covid-19 pandemic that’s wrecking trade and industrial activity worldwide. “We’re really at the very bottom for dry bulk,” William Fairclough, managing director of Wah Kwong Maritime Transport Holdings Ltd., one of …
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FIS Capesize Technical Report
FIS Capesize Technical Report Technically bearish with limited downside as the index already has a USD 2k handle. Up USD 402 today would suggest the index is entering a countertrend move, however price that fails at or below USD 7,330 remains vulnerable to further tests to the downside. To view the full report please click …
Sub-$2,000 a new norm for Capesize
Capesize market seemed to dive to a new low with each passing days, prompting trade participants to think if the market has bottomed or another V-shape recovery is around the corner. Gone are the heydays of the boom days when spot cape was trading high toward $200,000 per day in the 2008 and instead the …
China’s Industrial Economy Improves While Consumers Remain Wary
China’s industrial output increased in April for the first time since the coronavirus outbreak, adding to early signs of a recovery that economists cautioned would be slow and challenging. Industrial output rose 3.9% from a year earlier, reversing a drop of 1.1% in March, data showed Friday. Fixed-asset investment decreased 10.3% in the first four …
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Saudi Loss of China Oil Market Share Likely Brief, Say Analysts
Saudi Arabia’s loss of oil market share in China last month to Russia and Iraq is likely to be fleeting, with analysts saying shipments from the kingdom to Asia’s largest economy are rebounding in May. Saudi crude exports to China could more than double to 10 million tons this month from April, according to ship-tracking …
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Wheat Set for Worst Week in a Month on Record Stockpile Outlook
Wheat futures headed for their biggest weekly loss in a month on prospects for record global stockpiles, though prices held just above $5 a bushel on Friday with some areas still dry and on demand from importers. The July rice contract rose for a ninth day on tightness in U.S. old crop supplies. Soybeans advanced …
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FIS Supramax Technical Report
FIS Supramax Technical Report The index remains between support and resistance as it continues to edge higher on the back of the divergence. Momentum indicators would suggest the technical remains vulnerable to further tests to the downside. However price action has produced 5 waves down that have ended in a divergence suggesting the downside phase …