FIS API Blog
Capesize rates hit a record high for the year as strong iron ore demand continue to support shipping demand. The Capesize 5 time charter average reached $14,786 on Tuesday, the highest level in the year and up $1,489 at day-on-day basis. Buoyed by the robust Capesize market, the Baltic Dry Index shot up beyond the …
Continue reading “Capesize surges to year-high level on strong iron ore demand”
*Covid-19 vs Supply Cuts* The tussle between bearish and bullish news continues for crude. Coronavirus cases rose to more than 8 million worldwide yesterday, with infections surging in Latin America, while the United States and China are dealing with fresh outbreaks. On the supply side the UAE energy minister said that he had confidence OPEC+ …
Capesize rates moved up again on bullish market sentiments for both the Pacific and Atlantic basins. The Capesize 5 time charter average rose by $887 to $13,297 on Monday, reaching new highs for the prompt, while testing the recent highs on Q4 and Cal 21. The Baltic Dry Index also increased by 5.42% to 973 …
Continue reading “Capesize moves up despite slight cooldown”
COVID-19 will haunt a generation. Be it from personal loss of friends or family members, loss of employment or the loss of an investment. With nearly 8 million cases worldwide the pandemic has shown no sign of slowing down. Global cases worldwide (source Bloomberg) Infection cases may continue to rise, creating further havoc for …
Continue reading “The Baltic Dry Index – ray of hope or footnote in history?”
Capesize rates continued to rally as shipping demand improved in both the Pacific and Atlantic basins. Therefore, the Capesize 5 time charter average increased by $1,734 day-on-day to $12,410 on Friday, after strong afternoon session that pushed out of the tight trading seen in the morning session. This prompted the Baltic Dry Index to push …
Oil benchmarks fell about 8% last week, their first weekly declines since April, as U.S. Coronavirus cases started increasing. Over the weekend, more than 25,000 new U.S. cases were reported on Saturday alone as more states reported record new infections and hospitalizations. A cluster of infections in Beijing has increased concern of a …
Continue reading “Oil benchmarks fall on virus resurgence fears”
Continuation of the Crude Slump The week losses have extended into the new week as new virus infections hit China, Japan and the United States. This raises concerns of people in the market on the return of normal demand that had previously raised sentiment at the easing of lockdown. In the US the cutting of …
