Category archives: Freight

Capesize rates brace for sharp rebound amid new Covid-19 wave

It was a choppy day for the Capesize rates as some market participants were concerned over a new wave of Covid-19 that might delay vessel schedules. However, the paper market is expected to make a sharp rebound with front end futures nearly up by $2,000 on Wednesday, following by increase of $1,500 on Tuesday, especially …

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Tanker News Update 29/7/20

*Chinese Flooding China is currently experiencing its worst floods in 100 years with record rainfall levels since June. Areas straddling the Yangtze river banks are at risk of severe flooding if they haven’t already. Sinopec owns multiple refineries along the river so increased rainfall could cause serious issues. Potentially manifesting into catastrophic issues if the …

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Capesize rates correct further on bearish outlook

Capesize rates resumed its correction phrases for the short week with Singapore on public holiday at Friday. The Capesize 5 time charter average then dropped further by $270 day-on-day to $17,014 on Monday, after a sluggish start of the short trading week. Likewise, the Baltic Dry Index (BDI) slipped 1.82% day-on-day to 1,293 readings on …

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