FIS API Blog
Capesize freight rates entered correction phrase despite decent shipping demand and high iron ore prices in the market. Thus, the Capesize 5 time charter average saw a slight correction of $350 day-on-day to $18,044 on Tuesday, after an aggressive selloff down the forward curve. The Baltic Dry Index (BDI) then fell by 1.14% or 17 …
Continue reading “Capesize rates slip despite decent shipping demand”
Capesize freight rates started to strengthen for the week with market concerns over port congestion in China, typhoon threats in the Far East and high iron ore prices. However, the firmer rates may reverse at any instance after the typhoon left with little shipping disruption to the East Asia region. In view of this weakness, …
Continue reading “Capesize rates firm over potential shipping disruption”
Capesize freight rates remained flattish despite the clearing of tonnage in Atlantic and some shipping disruption due to typhoon in the East Asia. Thus, the Capesize 5 time charter average saw slight correction of $381 day-on-day to $18,394 on Friday. The Baltic Dry Index (BDI) also followed the dip and went down by 1.06% day-on-day …
Continue reading “Capesize rates flat despite tonnage clearing in the Atlantic”
Capesize freight rates took a slight dip despite a bullish physical market run with better rates for the Brazil routes. Thus, the Capesize 5 time charter average went for slight correction and fell by $121 day-on-day to $18,775 on Thursday. Then, the Baltic Dry Index (BDI) followed the dip and went down by 0.33% day-on-day …
Continue reading “Capesize rates fall despite higher rates for Brazil routes”
Capesize freight rates dipped slightly despite better shipping demand seen in both basins that kept up the bullish market momentum. Thus, the Capesize 5 time charter average faced some correction and fell by $117 day-on-day to $18,896 on Wednesday. Following the dip, the Baltic Dry Index (BDI) dropped by 0.59% day-on-day to 1,509 readings. …
Continue reading “Capesize rates corrects despite healthy shipping demand”
Capesize freight rates continued its upward climb on bullish market sentiments with firmer Pacific market. The Capesize 5 time charter average then rose by $708 day-on-day to $19,015 on Tuesday, with the September contracts reaching a high of $23,100, while the October contracts at high $23,150. Riding on the good freight rates, the Baltic Dry …
Continue reading “Capesize rates inch up on firm Pacific market”
Capesize freight rates rebounded on firmer note due to good momentum from the Pacific market. The Capesize 5 time charter average went up by $387 day-on-day to $18,305 on Monday, due to good run for September contracts that nearly touched $22,000. Despite the positivity surrounding Capesize, the Baltic Dry Index (BDI) rose slightly by 0.68 …
Continue reading “Capesize rates rebound on better iron ore and coal demand”
Capesize freight rates closed lower after the selloff in early session especially for the August and September contracts, while the Q4 contract held firm. Thus, the Capesize 5 time charter average went down by $652 day-on-day to $17,918 on Friday, to end the week on corrections for freight rates. The Baltic Dry Index (BDI) then …
Continue reading “Capesize rates dip on a week of corrections”
Capesize freight rates continued to slide despite a flurry of fixtures done by Brazilian miner over a short span of days. The Capesize 5 time charter average went down by $898 day-on-day to $18,570 on Thursday, despite bullish sentiment over the Brazil to China route. The Baltic Dry Index (BDI) then dropped by 3.19 % …
Continue reading “Capesize rates slide on selling pressure amid Vale’s fixing spree”
It was another softening day for the Capesize paper market despite robust steel demand in China that led iron ore prices to rise to a six-year high. The Capesize 5 time charter average went down by $225 day-on-day to $19,468 on Wednesday, despite another round of fixing spree by Brazil’s Vale for the Brazil to …
Continue reading “Capesize rates weaken despite record-high iron ore prices”
