Capesize rates firmed up with improvements seen in both the Pacific and Atlantic basins on better shipping demand. Higher bunker prices also lent support to the rising freight rates that pushed the Baltic Dry Index (BDI) higher to 546 points, up 5% day-on-day on Tuesday. Good fundamentals in Pacific market The Pacific …
Category archives: Freight
Supramax June 20 Morning Technical Comment – 240 Min
Capesize July 20 Morning Technical Comment – 240 Min
Panamax June 20 Morning Technical Comment – 240 Min
Cape Cal 21 v 22 Spread
Cape Cal 21 v 22 Spread To view the full report please click on the
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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Capesize July 20 Morning Technical Comment – 240 Min
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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