*China’s New 0.5% Contract* The new contract will launch Monday on the Shanghai International Energy Exchange (INE). This development follows the news that 20 Chinese refineries are ready to provide the new IMO compliant fuel. China removed a consumption tax on fuel oil this year and issued its first-ever supply quotas for 10 million tonnes …
Category archives: Fuel Oil
Capesize breaks the $20,000 level
Capesize rates reached another new height again and broke the $20,000 level amid the freight rally. Thus, the Capesize 5 time charter average increased by $6,244 day-on-day to $25,280 on Thursday, another year-high rates, even after a selloff by trade participants for profit-taking. Supported by robust Capesize market, the Baltic Dry Index (BDI) achieved the …
ShipShape: The Long and Winding Road
It is one of the best-known Beatles songs from their final studio album Let It Be, but it also encapsulates perfectly the challenge many commodity markets face as they begin to recover from the enormous disruption of Coronavirus. The pandemic has impacted every metric you can think of: quantitative easing, government debt, unemployment, share …
Brent August 20 Morning Technical Comment – 240 Min
Capesize rates chase for new height
Capesize rates continued to chase new height for the year, buoyed by the strong shipping and iron ore demand. The Capesize 5 time charter average rose by $4,250 day-on-day to $19,036 on Wednesday, another year-high as the paper market saw over 8,000 lots change hands by the close of trading day. Likewise, the Baltic Dry …
Oil Through the Looking Glass 18/6/20
*Fuel Demand to Remain Under Pressure* OPEC predicts that demand for fuel will continue to struggle into the second half of the year due to the effects of the virus. The group has kept its forecast for oil consumption unchanged predicting a 9% fall in demand, however it cut its supply needs by 2.17 mbd. …
Brent August 20 Morning Technical Comment – 240 Min
FIS Technical – Brent August Daily – The Tale of Two Gaps
FIS Castaway – Eps.12 – Unprecedented Coverage in Unprecedented Times
This week the group discuss supply and demand in crude, freight, iron ore, and copper markets. We explore the reasons behind the freight markets jump, oil’s crawl upwards, and iron ore’s price stall, among other market news and trends. https://freightinvestorservices.com/blog/fis-castaway-eps-12-unprecedented-coverage-in-unprecedented-times/
Capesize surges to year-high level on strong iron ore demand
Capesize rates hit a record high for the year as strong iron ore demand continue to support shipping demand. The Capesize 5 time charter average reached $14,786 on Tuesday, the highest level in the year and up $1,489 at day-on-day basis. Buoyed by the robust Capesize market, the Baltic Dry Index shot up beyond the …
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