Category archives: Freight

Iron ore “could continue to test new highs”

Iron ore futures rallied above $98 on Tuesday on better Chinese outlook and ongoing supply concerns from Brazil. Iron ore port inventories have fallen to a four-year low as China moved past the coronavirus pandemic, prompting Chinese steel mills to ramp up output, boosting demand for iron ore.   The latest Purchasing Manager’s Index for …

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Capesize rates hike up amid European holidays

Capesize rates gained slightly despite holidays across Europe that took off several players out of the market. Despite of thin trading, the Capesize 5 time charter average hiked by $279 to $3,648 on Monday, without any noticeable change in the physical market. In the meantime, the Baltic Dry Index (BDI) had gained steadily to 520 …

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Iron ore consolidation points to potential reversal

Ferrous Sector Money-flow: DCE iron ore aggregated open interest reached a high at 1.18 million lots on February 21 as well as creating periodic high, following a correction of 19.26%. The open interest high last week was 1.15 million lots. Long positions need to be aware of the similar correction happen for the second time …

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Full tankers idle as crude scrapes back near $40

Brent crude has doubled in price over the past six weeks, pulling back from the brink and the unprecedented step of negative US crude prices.   With Chinese demand increasing and the new OPEC cuts, with the extension being discussed right now, it has managed to drag prices to just under $40.   Meanwhile queues …

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Brazil May Plant Biggest Soybean Crop Ever: Fertilizer Co. Yara

Fertilizer sales in Brazil has surged with farmers taking advantage of the stronger purchasing power in the past decade, Lair Hanzen, CEO for Yara International in the Americas, said Monday at a press briefing. “Brazil is getting ready to plant a new record soybean crop”   While the sharp decline of the Brazilian currency against the dollar boosted …

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American Exporters Sell Soy to China Despite Rising Tensions

American soybean exporters sold several cargoes to Chinese state-run buyers, according to people familiar with the matter, showing that some transactions are still going through even after officials in Beijing ordered a pause in some purchases.   Shippers sold as many as four cargoes of U.S. soybeans from the new crop, said the people, who asked not …

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