European Close

Upside price action is slowing down on the offshore futures in iron ore. The daily candlesticks are decreasing in size warning that momentum is slowing based on price . However, the trend remains bullish with the evening session trading up to USD 121.15. Steel production remains strong whilst exports are down 6 million tonnes on …

FIS CASTAWAY – EPISODE 32

Join this week’s Election Special on Castaway as the team discuss the implications of a Biden Presidency, a Vaccine, and more on our commodity markets.     Website https://freightinvestorservices.com/blog/fis-castaway-eps-32-unprecedented-coverage-in-unprecedented-times/   Spotify https://open.spotify.com/episode/0Mr0kLung0jCaKA6bthcPN?si=3kIVEtI5RS-R54fQjPDw3Q   And Itunes  https://podcasts.apple.com/gb/podcast/fis-castaway/id1507094242#episodeGuid=239ed13a-c739-ef73-b126-1ba2480ae67d     Disclaimer: This podcast is a marketing communication and is not based upon detailed analysis by Freight Investor (FIS) …

Tanker News Update 11/11/2020

A slow start to Monday (09/11) morning was pleasantly interrupted in the early afternoon with Pfizer’s announcement of a 90% efficacy Covid-19 vaccine. This small light at the end of the tunnel sent markets roaring with Oil prices making the first significant up move in a hot minute… This announcement brought some much-needed optimism, that …

Capesize rates take a breather from recent gains

Capesize freight rates suffered a dip as the bullish momentum flatten out with fewer fixtures being done at higher rates. The Capesize 5 time charter average dipped by RMB 67 day-on-day to $14,781 on Tuesday, as the market lost steam with concerns on the muted Atlantic basin. The Baltic Dry Index (BDI) then moved down …

European Close

The Dalian Iron ore had given up its late gains overnight and closed unchanged on the day this morning.  The Doji star had indicated indecision in the market and warned we could potentially see some form of market pullback in the evening session. Price has held resulting in the offshore contract moving 1 dollar higher …

Oil Through the Looking Glass 10/11/20

*Vitol CEO Sees Oil Prices Heading Towards $50 A Barrel* Russell Hardy, CEO of Vitol has announced this morning that he believes oil prices will hover around the $50 per barrel mark into the new year and over the next few months as inventories start to report draws which he sees accelerating into 2021. (Reuters) …