FIS API Blog
Australian exports of wine, seafood, oatmeal, fruit and dairy are in danger of being targeted by China if Beijing decides to escalate a row over Canberra’s calls for an investigation into the origin of Covid-19, according to people familiar with the matter Chinese officials have compiled a list of potential goods that it could target …
Continue reading “China Mulls Targeting Australian Wine, Dairy on Coronavirus Spat”
Freight prices jumped on Monday with front month Capesize futures up over 10% on anticipation of a large stimulus package out of China later this week. This created a knock-on effect into the smaller vessels with the Panamax front month futures up over 5%. Oil futures performed well with a USD 3.00 move higher, as …
Continue reading “Commodities Bounce Back on Chinese Stimulus Anticipation and Vaccine Hopes”
Iron ore futures soared on Monday on supply-side concerns as major producer Brazil becomes a global hotspot for coronavirus. The country has now close to a quarter of a million cases, the four largest total case count, and a death of over 16,000. According to shipping activity models by Westpac, supply from Brazil has fallen …
Continue reading “Steel on the march as Brazil supply, port stocks fall”
Capesize market seemed to turn around on better freight rates in key routes as cargoes volume returned. Thus, the Capesize 5 time charter average recorded at $2,394 on Friday, up by $402 day-on-day. Despite the rebound, Capesize rates were still almost in historical all time low, thus it may be too early to conclude that …
Continue reading “Capesize turns the corner with robust Pacific routes”
OPEC+ is responding to the oil market’s collapse with an urgency never seen before. The alliance’s program of production cutbacks this month is well on the way to trimming 9.7 million barrels of daily crude output – roughly 10% of global supplies, according to tanker-tracking data, interviews with physical crude traders and refiners, and assessments …
Continue reading “OPEC+ battles to cut, investors bet to buy”
Soybean futures climbed as life gradually returns to normal in China with more people dining out and more schools reopening, a trend set to increase demand for everything from meat to cooking oil in the top consumer. Soybean meal futures in Dalian headed for their best daily gain since March. Restarting schools and restaurants is …
Continue reading “Soybeans Advance on Brightening Prospects for Demand in China”
Vessels carrying dry bulk commodities are struggling to make a profit because of the double hit of lower seasonal demand for cargoes and the Covid-19 pandemic that’s wrecking trade and industrial activity worldwide. “We’re really at the very bottom for dry bulk,” William Fairclough, managing director of Wah Kwong Maritime Transport Holdings Ltd., one of …
Continue reading “Bulk Shipping ‘At The Very Bottom’ as Carrier Earnings Plunge”
FIS Capesize Technical Report Technically bearish with limited downside as the index already has a USD 2k handle. Up USD 402 today would suggest the index is entering a countertrend move, however price that fails at or below USD 7,330 remains vulnerable to further tests to the downside. To view the full report please click …
