Category archives: Freight

Panamax futures remain buoyant on China soybean purchases

Panamax futures remained buoyant this week as China continued to buy US Soybeans, despite increased political tensions over Hong Kong. The Q4 futures rallied 5.5% on Wednesday as the world’s second largest economy was revealed as purchasing 10 cargoes of soybeans this month from the U.S. alone, according to Bloomberg. China needs beans and remains …

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Capesize rates race ahead on robust shipping demand

Capesize rates continued to race upward with better shipping demand in both basins, supported by the recent iron ore rally. The Capesize 5 time charter average surged up by another $1,087 day-on-day to $9,142 on Wednesday, marking a rise throughout the week. Likewise, the Baltic Dry Index (BDI) continued to hike and reached 764 points …

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Iron ore softer as pundits exchange views on supply outlook

Iron ore futures were a touch softer on Wednesday as investors assessed the supply outlook for iron ore following the recent closure of Vale’s Itabria complex.   Investors grew concerned over tight supply after Vale was ordered to shut down Itabria, which accounts for over 10% of Vale’s output, in the state of Minas Gerais …

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Oil Through the Looking Glass 10/6/20

The Glut is Back Those of you who have been watching your crude ticker this morning will see many red numbers on the screen. The reason for this has been the switch of sentiment to concerns about oversupply. We have had reports late last night that the API have predicted a large build in US …

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Capesize pushes ahead with iron ore rally

Capesize rates continued to push forward with firm iron ore demand that pushed for more shipping activities in the Pacific market. Thus, the Capesize 5 time charter average hiked up by another $310 day-on-day to $8,055 on Tuesday, for the second consecutive day-rise for the week. Following the rally, the Baltic Dry Index (BDI) broke …

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