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Tag archives: FO
Capesize rates race ahead on robust shipping demand
Capesize rates continued to race upward with better shipping demand in both basins, supported by the recent iron ore rally. The Capesize 5 time charter average surged up by another $1,087 day-on-day to $9,142 on Wednesday, marking a rise throughout the week. Likewise, the Baltic Dry Index (BDI) continued to hike and reached 764 points …
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Oil Through the Looking Glass 11/6/20
Unexpected Build? The EIA confirmed a large build in US crude stocks at 5.7 mil bbls to put stocks at 538.1 million bbls, a historic record excluding US strategic reserves. This was caused largely by the shipments from Saudi Arabia from the price war pumping in March and April. We knew from the effects on …
Brent August 20 Morning Technical Comment – 240 Min
Oil Through the Looking Glass 10/6/20
The Glut is Back Those of you who have been watching your crude ticker this morning will see many red numbers on the screen. The reason for this has been the switch of sentiment to concerns about oversupply. We have had reports late last night that the API have predicted a large build in US …
Capesize pushes ahead with iron ore rally
Capesize rates continued to push forward with firm iron ore demand that pushed for more shipping activities in the Pacific market. Thus, the Capesize 5 time charter average hiked up by another $310 day-on-day to $8,055 on Tuesday, for the second consecutive day-rise for the week. Following the rally, the Baltic Dry Index (BDI) broke …
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Brent August 20 Morning Technical Comment – 240 Min
Capesize rides along with the iron ore bull run
Capesize rates continued the bullish run over Brazilian supply concerns, while high construction activities in China support iron ore demand. As such, the Capesize 5 time charter average jumped by $438 day-on-day to $7,745 on Monday, after more European players entered the market and pushed up rates. The Baltic Dry Index (BDI) followed the rally …
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Oil Through the Looking Glass 9/6/20
Easing of Lockdown Bounce Prices have been rising on Brent as hopes that the global recovery post covid-19 will be swift, bringing normal levels of demand back to the battered market. Prices on front month futures have pushed above the $40 level and even Goldman Sachs has raised its oil price forecasts to a $40.40 …
#moreforless – the new shape of OPEC+ supply policy?
Saudi Arabia’s extra voluntary oil-production cut, which came on top of the OPEC+ supply curbs, will cease at the end of this month as demand recovers. Energy Minister Prince Abdulaziz bin Salman said the kingdom’s additional reductions, which amounted to about 1.2 million barrels a day including contributions from its closest allies in the …
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