Capesize paper market traded on narrow range as trade participants were concerned over several holidays in Far East in coming days. Thus, the Capesize 5 time charter average dropped by $150 day-on-day to $8,381 on Friday, as liquidity dried up ahead of the many holidays in Asia that limited shipping activities. Some Capesize demand had …
Category archives: Fuel Oil
Capesize under pressure from low physical fixtures
Capesize paper market continued the downside with lower physical fixtures in view of coming May Labour holidays across countries. Due to lack of physical trading, the Capesize 5 time charter average dropped by $89 to $8,292 on Monday. Thus, many trade participants were expecting a sluggish week ahead of the many holidays in coming days. …
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Upward impetus as oil market clings to hope
U.S. crude inventories rose by 10 million barrels to 510 million barrels in the week to April 24, data from industry group the API showed last night, compared with analysts’ expectations for a build of 10.6 million barrels. So not as bad as previously thought and lower than previous weeks which has definitely given the …
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