Capesize market kept up the upward momentum with better shipping demand in both basins with higher iron ore prices. Thus, the Capesize 5 time charter average rose by $910 day-on-day to $6,177 on Thursday, after a strong afternoon session that pushed paper market to a day high. Likewise, the Baltic Dry Index (BDI) also managed …
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
Iron ore futures fall as players take profits
Iron ore futures slumped on Thursday following some profit-taking activities as market participants turned cautious. The iron ore market has seen great volatility, pushing towards $100 on supply concerns following disruptions in Brazil as well as strong demand from China. The Dalian Exchange issued a notice earlier this week, urging member brokerages to …
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Supramax June 20 Morning Technical Comment – 240 Min
Capesize rates strengthen by better iron ore demand
Capesize market spiked further upward due to improving shipping fundamentals and higher iron ore demand. Due to the good physical market, the Capesize 5 time charter average rose by $1,054 day-on-day to $5,247 on Wednesday. In view of the strong Capesize market, the Baltic Dry Index (BDI) reached to a three-week high to 592 ratings, …
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Panamax June 20 Morning Technical Comment – 240 Min
Capesize July 20 Morning Technical Comment – 240 Min
OPEC+ squabbles as family tensions mount
Saudi Arabia and Russia, two of the world’s biggest oil producers, have agreed to support extending into July the 9.7 million barrels per day (bpd) in supply cuts backed in April by the OPEC+ group. But they failed to agree to holding the meeting to discuss it with the wider group. The alliance that’s …