Category archives: Freight

Iron ore soars on China recovery, supply fears

Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic.    The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …

Continue reading “Iron ore soars on China recovery, supply fears”

Capesize rates gains despite mixed market outlook

Market participants were in doubt if the Capesize market would continue to enjoy higher rates over potential supply outages from Brazil. The expected lower volume from Brazil was met with high iron ore prices that firmed up rates as the Capesize 5 time charter average jumped by $141 to $3,369 on Friday. The jump was …

Continue reading “Capesize rates gains despite mixed market outlook”

Oil tries again to accentuate the positives

Brent crude was unchanged at $37.84 a barrel, in the first day of trading in the contract with August as the front month. WTI crude futures for July delivery were at $35.53 a barrel, up 4 cents, or 0.1%, by 0629 GMT. OPEC+ is set to discuss a short extension of its current output cuts, …

Continue reading “Oil tries again to accentuate the positives”

Soybeans Climb as Dollar Drops and Trump Keeps Trade Deal Intact

Soybean futures in Chicago advanced as the dollar extended declines and President Donald Trump stopped short of spelling out tough new sanctions against China over Hong Kong and kept the phase one trade deal with Beijing intact. Corn increased, while wheat snapped two days of gains.   The Bloomberg Dollar Spot Index tumbled to the weakest in …

Continue reading “Soybeans Climb as Dollar Drops and Trump Keeps Trade Deal Intact”

Capesize rates drag by long tonnage list

Sluggish Pacific and Atlantic had dragged down Capesize rates and reversed much of the gains that occurred in previous week. By Thursday, the Capesize 5 time charter average went down further by $558 to $3,228, despite more buyers entry at the afternoon session in trying to lift the market. Given the volatile Capesize rates and …

Continue reading “Capesize rates drag by long tonnage list”