FIS API Blog
Capesize market continued its positive run with more fixings and stronger Pacific market that drove better freight rates. As such, the Capesize 5 time charter average rose by $481 to $2,875 on Monday, as some trade participants were heard to do “bottom picking” after another round of short covering. Driven by better Capesize rates, the …
Continue reading “Capesize extends positive run on better bunker prices”
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
Continue reading “China construction in the bubble, iron ore demand risk remains”
Australian exports of wine, seafood, oatmeal, fruit and dairy are in danger of being targeted by China if Beijing decides to escalate a row over Canberra’s calls for an investigation into the origin of Covid-19, according to people familiar with the matter Chinese officials have compiled a list of potential goods that it could target …
Continue reading “China Mulls Targeting Australian Wine, Dairy on Coronavirus Spat”
Freight prices jumped on Monday with front month Capesize futures up over 10% on anticipation of a large stimulus package out of China later this week. This created a knock-on effect into the smaller vessels with the Panamax front month futures up over 5%. Oil futures performed well with a USD 3.00 move higher, as …
Continue reading “Commodities Bounce Back on Chinese Stimulus Anticipation and Vaccine Hopes”
Capesize market seemed to turn around on better freight rates in key routes as cargoes volume returned. Thus, the Capesize 5 time charter average recorded at $2,394 on Friday, up by $402 day-on-day. Despite the rebound, Capesize rates were still almost in historical all time low, thus it may be too early to conclude that …
Continue reading “Capesize turns the corner with robust Pacific routes”
China’s house-price growth accelerated in April as the central bank’s credit easing gave the property market a much-needed lift out of the coronavirus shutdown. * New-home prices in 70 major cities, excluding state-subsidized housing, gained 0.42% in April, National Bureau of Statistics data released Monday showed. That’s up from a 0.13% increase in March. * …
Continue reading “China Home-Price Growth Accelerates in Property Market Boost”
Vessels carrying dry bulk commodities are struggling to make a profit because of the double hit of lower seasonal demand for cargoes and the Covid-19 pandemic that’s wrecking trade and industrial activity worldwide. “We’re really at the very bottom for dry bulk,” William Fairclough, managing director of Wah Kwong Maritime Transport Holdings Ltd., one of …
Continue reading “Bulk Shipping ‘At The Very Bottom’ as Carrier Earnings Plunge”
Capesize market seemed to dive to a new low with each passing days, prompting trade participants to think if the market has bottomed or another V-shape recovery is around the corner. Gone are the heydays of the boom days when spot cape was trading high toward $200,000 per day in the 2008 and instead the …
China’s industrial output increased in April for the first time since the coronavirus outbreak, adding to early signs of a recovery that economists cautioned would be slow and challenging. Industrial output rose 3.9% from a year earlier, reversing a drop of 1.1% in March, data showed Friday. Fixed-asset investment decreased 10.3% in the first four …
Continue reading “China’s Industrial Economy Improves While Consumers Remain Wary”
Capesize freight rate reached another low due to bearish market sentiment in both the Pacific and Atlantic basins. The Capesize 5 time charter average dived down further toward the $2,000 level on Wednesday, at $2,082, down $811 on-day. The lengthy ballaster tonnage list remained hard for the market to digest, which prompt some shipowners to …
Continue reading “Another low for Capesize rates due to long ballaster list”
