FIS API Blog
Capesize rates moved up again on bullish market sentiments for both the Pacific and Atlantic basins. The Capesize 5 time charter average rose by $887 to $13,297 on Monday, reaching new highs for the prompt, while testing the recent highs on Q4 and Cal 21. The Baltic Dry Index also increased by 5.42% to 973 …
Continue reading “Capesize moves up despite slight cooldown”
Iron ore futures fell sharply on Monday on concerns over China’s recovery. Data released on Monday showed China churned out a record of 92.27 million tonnes of steel. According to SteelHome data, iron ore port inventories fell to 107.75 million tonnes last week, the lowest since October 2016. While the decline in port inventories …
Continue reading “Iron ore futures fall as China steel demand slows, virus cases rise”
COVID-19 will haunt a generation. Be it from personal loss of friends or family members, loss of employment or the loss of an investment. With nearly 8 million cases worldwide the pandemic has shown no sign of slowing down. Global cases worldwide (source Bloomberg) Infection cases may continue to rise, creating further havoc for …
Continue reading “The Baltic Dry Index – ray of hope or footnote in history?”
Capesize rates continued to rally as shipping demand improved in both the Pacific and Atlantic basins. Therefore, the Capesize 5 time charter average increased by $1,734 day-on-day to $12,410 on Friday, after strong afternoon session that pushed out of the tight trading seen in the morning session. This prompted the Baltic Dry Index to push …
Continuation of the Crude Slump The week losses have extended into the new week as new virus infections hit China, Japan and the United States. This raises concerns of people in the market on the return of normal demand that had previously raised sentiment at the easing of lockdown. In the US the cutting of …
Resurgence of the Virus The virus is making a comeback in the United States as the number of infections rose past the 2 million mark. This has focused minds in the market on the worry of a second wave which is pushing oil contracts to their first weekly decline in seven weeks. Asian Gasoil Cracks …
Capesize rates were back to the $10,000 level again, on the back of robust shipping demand in both basins. Thus, the Capesize 5 time charter average rose by $1,534 day-on-day to $10,676 on Thursday, continuing the bullish run since the start of the week. Follow in the bullish run, the Baltic Dry Index (BDI) soared …
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