Unpredictable and volatile is the life of a shipowner. Five weeks ago the Panamax index was at USD 4,054, the US and China were trading insults over the origin of the COVID-19 pandemic leaving the phase 1 trade deal to exist on paper only. The index is now 138% higher at USD 9,661, China …
Category archives: Freight
Steel futures up on mixed Coronavirus news
Iron ore futures extended gains on Wednesday as investors assessed risks from the Coronavirus pandemic. There are worrying signs that the outbreak has worsened in Brazil, with the nation recently surpassing the mark of one million confirmed cases and 50,000 deaths. Latest figures showed that Brazil added new deaths, bringing the total to …
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Capesize rallies on high iron ore prices
Capesize rates rallied on bullish market sentiments after strong gains seen in both the Pacific and Atlantic basins. The Capesize 5 time charter average surged by $1,308 day-on-day to $26,672 on Tuesday, despite the lagging Q4 and Cal 21 contracts in the future market. Buoyed by the Capesize rally, the Baltic Dry Index (BDI) continued …
Supramax & Handysize FFA Daily Report
Capesize & Panamax FFA Daily Report
Capesize lead the way
Another strong day in the dry freight market with the Capesize index up 5.16% due to Chinese iron ore restocking and increased infrastructure spending. The index out outperformed the Baltic Dry Index which rose 3.79% after positive performances from the Panamax index at + 1.65% and Supramax Index + 0.77%. The continued upside moves …
Pre-holiday restocking lifts iron ore futures
Iron ore futures moved above $99 on restocking ahead of the Chinese holiday. It was a busy day for iron ore traders as a flurry of trades were transacted as steel mills look to restock ahead of the Dragonboat festival holiday on Thursday and Friday. Some trade sources are expecting more spot supply …
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Capesize goes on a bumpy ride
After a strong rally last week, Capesize rates started on a slow with some selling pressure amid the short trading week. Thus, Capesize 5 time charter average dropped slightly by $147 day-on-day to $25,364 on Monday, after some jitters in the morning session about the strength of C3 market. Due to the selling pressure in …
