Category archives: Uncategorized

Capesize sets sight on $30,000 level

Capesize rates seemed to set its sight for the $30,000 level in view of high iron ore prices that lifted shipping demand for moving iron ores. The Capesize 5 time charter average hiked up further by $1,985 day-on-day to $28,657 on Wednesday, despite aggressive sell off at the Q3 contracts. Due to Capesize rally, the …

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China Continues to Purchase U.S. Agricultural Products

Following talks in Hawaii this week China intends to increase purchasing of U.S agricultural products as it tries to meet its obligations to the phase one trade deal.   The world’s largest soybean importer is playing catch up after falling behind due to the COVID-19 pandemic. An unnamed source told Bloomberg news that the Chinese …

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Oil Through the Looking Glass 19/6/20

*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 …

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