Tag archives: FO

Capesize rates continue uptrend momentum on better market

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 …

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Morning Oil Report 27/11/20

Brent crude was down by 10 cents at $47.70 by 0602 GMT, having fallen 1.7% overnight. WTI was down by 86 cents, or 1.9%, at $44.85. U.S. crude prices did not settle on Thursday due to the Thanksgiving holiday.   Vaccine news dominated the headlines this week as AstraZeneca could have a vaccine that is …

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European Close 26/11/20

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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Morning Oil Report 26/11/20

Good morning all,   Brent futures were flat at $48.60 a barrel by 0730 GMT, after rising around 1.6% in the previous session, in which Brent Crude futures reached highs of $49.09 per barrel   EIA Report   Crude: -0,754 Cushing: -1,721 Distillate: -1,441 Gasoline: 2,179 Production: 100   ExxonMobil have released a revision of …

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Capesize rates move higher on firm Pacific market

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 …

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European Close 25/11/20

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 …

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