Tag archives: FO

Capesize rates fall despite higher rates for Brazil routes

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 …

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Oil Through the Looking Glass 28/8/20

*As Laura exits, U.S. energy firms tally damage As the tail end of Laura sweeps north east and is downgraded to tropical storm, US energy firms are organizing for crews to be sent to offshore rigs to assess the damage caused by the 150mph winds. Power was cut from the homes of 650,000 people. Equinor …

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Gone With the Wind – Ship Shape Commodity Weekly

Dominating the news this week has not been the hopeless story of a Southern girl’s love for a married man, but rather the twin storms in the Gulf of Mexico. The bluster behind this story left oil and tanker markets in a spin with impending disruption and shutdowns.   As of late Thursday, Hurricane Laura …

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Morning Oil Report 28/8/20

Good morning all. Brent futures for October, set to expire on Friday, rose 2 cents to $45.11 a barrel at 4:09 am GMT. The November contract climbed 3 cents to $45.63. WTI futures were down 3 cents, or 0.1%, to $43.01 a barrel.   Hurricane Laura, a Category 4 storm, made landfall along the USGC …

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Capesize rates corrects despite healthy shipping demand

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.   …

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Oil Through the Looking Glass 27/8/20

*WTI edges higher but products dip as US Gulf braces for Laura US crude was on the up as of 26th August as the region prepares for hurricane Laura, which is sweeping across the southern coast, yet demand for other products weakens S&P reports. NYMEX October WTI settled higher at $0.04 for the day whilst …

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Morning Oil Report 27/8/20

Good morning all. Brent futures for October, which expire on Friday, rose 13 cents, or, 0.3% to $45.77 a barrel by 5:40 am GMT. The more active November Brent contract was up 10 cents at $46.26 per barrel. WTI futures rose 1 cent to $43.40 a barrel.   Hurricane Laura, a Category 4 storm, continued …

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