FIS API Blog
Capesize rates came under pressure and took a correction with losses on both the Pacific and Atlantic basins. The Capesize 5 time charter average dropped by massive $3,301 day-on-day to $29,610 on Wednesday, with a large chunk of the recent gains wiped out in a single session. Following the plunge, the Baltic Dry Index (BDI) …
Continue reading “Capesize rates under correction after extended losses”
*Catastrophic Crack Margins* COVID-19 may have caused a tremor in the refining industry that will be seen for years to come. Simple refinery economics means profit is made in the differences on input (crude) and outputs (refined distillates). With global demand in refined products slumping in recent months their demand still isn’t growing enough to …
Capesize rates rallied further without any signs of slowdown as the rates chased for new height for the year. Thus, the Capesize 5 time charter average surged by $1,078 day-on-day to $33,760 on Monday, with the curve trending up to highs for July, August, Sept and Q3 contracts. Following the Capesize rally, the Baltic Dry …
Continue reading “Capesize rallies further on tighter tonnage”
