Tag archives: FO

Capesize rates rebound on improving sentiment

Capesize freight rates flattened out and rebounded from previous slump with much improvement in the paper and physical markets. The Capesize 5 time charter average rebounded slightly by $30 day-on-day to $17,151 on Wednesday, due to plenty of buying interests that pushed up rates. The Baltic Dry Index (BDI) then was almost flattish and dipped …

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Morning Oil Report 22/10/20

Brent crude futures retreated 22 cents, or 0.5%, to $41.51 a barrel at 0328 GMT after sliding 3.3% on Wednesday. WTI crude futures fell 26 cents, or 0.7%, to $39.77 a barrel, after dropping 4% on Wednesday. The falling prices could be attributed to the worse than expected data from the EIA on Wednesday, with …

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European Close 21-20-20

Iron ore flows are strong, suggesting we are looking at an upside countertrend move, unless we see more construction projects announced in China or a stimulus deal agreed in the U.S.     We noted that after the last podium performance with Trump and Biden this seemed unlikely. Today Nancy Pelosi announced she was hopeful …

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Morning Oil Report 21/10/20

Brent crude futures dropped 32 cents, or 0.8%, to $42.30 a barrel by 0418 GMT, after falling 31 cents on Monday. WTI  futures fell 26 cents, or 0.6%, to $40.57 a barrel, after losing 5 cents on Monday.   Oil steadied yesterday as hopes of a vaccine were nearing which would potentially ease some lockdowns, …

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Capesize rates slide despite improving paper market

Capesize freight rates continued the downward slide despite some improvement in the paper market. The Capesize 5 time charter average then fell by $1,281 day-on-day to $17,121 on Tuesday, but managed to send some positive signals to shipowners due to the improving paper market. However, the physical market remained weak and dragged down the Baltic …

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European Close 20/10/20

Iron ore is making hard work of its upside push at this point with DCE futures finishing the night session up CNY 6.5 at 692. The offshore came under pressure whilst the DCE was closed with the night session leaving the futures basically unchanged from the previous day’s close.   Rhetoric for iron ore bulls …

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Oil Through the Looking Glass 20/10/20

*Fuel Spreads Move Further into Backwardation* Both HSFO and VLSFO fuel oil futures have moved further into backwardation on front month spreads, as demand returns, and supply holds steady. News that there were potential supply shortages in China of VLSFO fuel were echoing through the market and helped lift front Sing 0.5% spreads up to …

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