Baltic Dry Index (BDI) continued to strengthen this week due to lower bunker prices and higher forward freight agreement (FFA).
Baltic Dry Index (BDI) formed a new norm of staying above 1,000 points and even extended its gains toward the 1,100 mark this week.
Baltic Dry Index (BDI) continued to hold steady above the 1,000 point mark with better rates and more tonnage coming from the Atlantic and West Australia market.
Capesize market is expected to face more headwinds in Q2 2019, despite some market optimism in Vale’s restart of Brucutu mine.
Capesize rates have continued to be depressed by lack of physical activities this week. However, the paper market for capesize index managed to turn positive for the first time on Monday since late February 2019.
Capesize market remained quiet throughout the week with thin activities from the Asia-Pacific and Atlantic regions.
The first trade executed on the new Singapore FOB Marine Fuel 0.5% (Platts) futures contract was brokered on the basis of $200 spread with high sulphur fuel (HFO) for December 2019.
The Baltic Dry Index (BDI) appeared to be a tight rope walker this week on the verge of falling off from the 1,000 mark.
After a week-long National Day holiday, the return of the Chinese trade participants failed to rekindle the freight market.
Capesize freight rates rose higher this week, thanks to firmer bunker prices. However, as the week goes by, trade uncertainty started to creep into the market due to weaker freight derivative market.