Category archives: Freight

Capesize rates drive higher by iron ore prices

Capesize market moved up to higher on higher iron ore prices and robust shipping demand. Due to the stronger physical market, the Capesize 5 time charter average rose by $245 to $4,196 on Thursday. The strong freight market had reflected a surge in iron ore prices which had hovered above the $90/mt for almost two …

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China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs

The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. Speaking at the National People’s Congress in Beijing on Friday morning, Premier Li Keqiang delivered an annual policy address that instead laid …

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Iron ore blips back on supply fears, stimulus hopes

Iron ore futures recovered from yesterday’s blip to trade above $95 as investors become increasingly concerned over the coronavirus crisis in Brazil. Brazil’s iron ore shipments had their slowest start to a year in the last five years. Brazilian miner Vale downgraded its production guidance early in the year, Morgan Financials Ltd noted that more …

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Robust Pacific drives Capesize rates higher

Capesize market continued the good run, thanks to the robust Pacific market with better freight rates. Reflecting the better physical market, the Capesize 5 time charter average increased by $489 to $3,951 on Wednesday. With Capesize market as the driving force, the Baltic Dry Index spiked again and gained over 5.30% on-day to 477 readings …

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What to Watch as China Unveils Stimulus in Policy Meeting

China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …

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China Simplifies Iron Ore Import Rules Amid Australia Virus Spat

China streamlined its inspection rules for iron ore imports amid increasing debate about whether the $43 billion trade between the two nations will be caught up in their escalating spat. While the Global Times — a tabloid run by the flagship newspaper of the Communist Party — said the simplification of rules is aimed at …

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