FIS API Blog
Capesize freight rates continued its upward momentum, due to the improving physical market. The Capesize 5 time charter average went up by $328 day-on-day to $12,514 on Thursday, due to better freight rates. The Baltic Dry Index (BDI) followed the uptrend and booked a gain of 1.84% or 22 points to 1,219 readings. More …
Continue reading “Capesize rates continue uptrend momentum on better market”
BHP today reinforced expectations that the current strength in steel demand will extend into 2021. Earlier in the week it was a roundtable with Morgan Stanley and now UBS (Bloomberg). The reiterating of the message seems to be sinking in, with the December contract trading up to a new high of USD 127.64, whilst the …
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Capesize freight rates rose higher after a flurry of fixtures were being done in the Pacific market, lifting market sentiment after previous correction. The Capesize 5 time charter average then inched up by $190 day-on-day to $12,186 on Wednesday, due to significant gains at the physical market. The Baltic Dry Index (BDI) followed the rally …
Continue reading “Capesize rates move higher on firm Pacific market”
Iron ore Futures continue to trade sideways with the futures close the session in line with the previous two days. Futures prices remains supported after Fortescue metals Group COO reported the current market is strong, as steel production in China continues to grow (Bloomberg). Steel Margins are off 1% as DCE coking coal continues to …
Capesize freight rates dipped slightly despite market optimism over flurry of fixtures being done in the Pacific market. Thus, the Capesize 5 time charter average inched down by $25 day-on-day to $11,996 on Tuesday, as market pullback for a slight correction. The Baltic Dry Index (BDI) however, moved flattish and booked a slight gain of …
Continue reading “Capesize rates dip despite healthy demand from Pacific”
The December Iron ore futures had a bit of a rebound overnight with price closing 1.09% higher. The rebound has been attributed to lower Brazil shipments and Bloomberg intelligence stating that price will likely stay strong before year end, as steel output remains at high levels. Steel margins remain solid and unchanged at CNY 300 …
Capesize freight rates continued to gain upward momentum on improving physical market and market optimism. The Capesize 5 time charter average then inched up by $124 day-on-day to $12,021 on Monday, due to better freight rates in both basins. The Baltic Dry Index (BDI) followed the market positivity and went up by 1.83% or 21 …
Continue reading “Capesize rates receive support from firm market”
Steel margins remains supported at CNY 301; however, the iron ore market has now started to come under pressure with yesterday’s futures closing 1.12 % lower at USD 123.35. Price dropped from a six year high after BHP flagged near-term downside risks to Morgan Stanley at a roundtable last week. BHP cited a rebound in …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 813 490 6630
