Category archives: Freight

Capesize rates venture into a week of correction

Capesize rates came under correction again, perhaps fulfilling market expectation of a week for correction due to shipping supply glut. The Capesize 5 time charter average then fell further by $1,175 day-on-day to $24,387 by mid-July, 15 July 2020, despite an influx buyers entered at the afternoon session. Following the decline, the Baltic Dry Index …

Continue reading “Capesize rates venture into a week of correction”

Iron ore futures yo-yo as China steel exports fall

Iron ore futures surged above 109 in London morning on Wednesday, reversing early losses in Asia, on fresh concerns of coronavirus outbreak in China.   According to sources at port, a crew member in Lianyun Port was rumoured to have contracted the coronavirus, leading to fears of possible delays in ships unloading. So far, China …

Continue reading “Iron ore futures yo-yo as China steel exports fall”

FIS Castaway

Episode 16 is all about cross commodities. Alistair Pettey, the new head of FIS’s cross commodity execution desk joins Chris, Alex and Tom to discuss new developments as well as the usual markets updates. Available now on the FIS website (www.freightinvestorservices.com/media ) Spotify https://open.spotify.com/show/7yMLsm5s8tLtrCQr7bG8wD?si=FW6Rvj9HRjClAx3vRjq8iw And Apple https://podcasts.apple.com/sg/podcast/fis-castaway/id1507094242  

Capesize rates spiral down from supply buildups

Capesize rates continued its downward slide as supply buildups, while shipping demand remained yet to be seen in the market. Following the decline, the Capesize 5 time charter average dived down by $1,402 day-on-day to $25,562 on Tuesday. Likewise, the Baltic Dry Index (BDI) continued to descend and dropped by 2.79% day-on-day at 1,742 readings. …

Continue reading “Capesize rates spiral down from supply buildups”

Tanker News Update 15/7/20

*Could There be Another Storage Boom* As the independent teapot refineries in the Chinese Shandong region increase their run rate, storage is once again reaching its limit. This greater run rate, is in attempt to de-congest the multiple VLCC’s waiting to discharge in Chinese waters. Demand for refined product is slowly starting to come online, …

Continue reading “Tanker News Update 15/7/20”