Category archives: Fuel Oil

Capesize rates benefit from better Pacific market

Capesize freight rates inched up despite muted shipping activities, except for key shipping routes of the west Australia and Brazil to China. The Capesize 5 time charter average then hiked up by $384 day-on-day to $15,469 on Tuesday, after a quiet start to the week with small trading volume in between. The Baltic Dry Index …

Continue reading “Capesize rates benefit from better Pacific market”

Morning Oil Report

Brent crude futures fell 71 cents, or 1.4%, to $49.37 a barrel at 0646 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 67 cents, or 1.4%, to $46.35 a barrel. Both contracts fell nearly 2% on Tuesday, already a second straight session of declines.   API Crude +2.70M Cushing +0.341M Gasoline -0.224M Distillate …

Continue reading “Morning Oil Report”

Capesize rates move slowly prior to holiday season

Capesize freight rates managed to book slight gain, despite the shipping market slowed down due to the upcoming holiday season. The Capesize 5 time charter average inched up slightly by $142 day-on-day to $15,085 on Monday, due to thinner market volumes and rangebound activity. The Baltic Dry Index (BDI), however dropped slightly by 0.15% or …

Continue reading “Capesize rates move slowly prior to holiday season”

Morning Oil Report

The fast-spreading new coronavirus strain has shut down much of Britain and has prompted several countries to close their borders to British travellers and freight. Brent crude futures were down 54 cents, or 1.1% to $50.37 a barrel at 0531 GMT before falling to $49.60 at 0700GMT, while U.S. West Texas Intermediate (WTI) crude futures …

Continue reading “Morning Oil Report”