Weekly Insights Review

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Doric Weekly Market Insight



March had a better feeling in the spot market

“Looking forward towards the seasonally strongest period of Q2 and Q3, market sentiment remains rather mixed, anticipating a few generous spikes but being pensive for the annual average performance.”
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Mazars Comment:The Mini-Banking Crisis Is (Mostly) Over. That’s No Reason To Relax



What are the immediate areas of risk we should be focusing on?



In my nearly 20 years in investments there’s one rule that seems to work under any circumstance: Warren Buffet’s “Only when the tide goes out do you discover who's been swimming naked.”
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Time To Get Bullish Again On Crude?


Dirty tanker rates are already lofty and even more upside is expected for the remainder of the year
 

Numerous structural and seasonal factors are pointing to higher crude prices in the coming months, and onshore crude inventories are already drawing right now.
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Signal Dry Bulk Weekly Report



Snapshot of Spot Freight Rates, Supply-Demand Trends, Port Congestions


In the first week of April, there were signs of firmness in the larger vessel segments, while there was some weakening in Supramax and Handysize vessels.
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Ongoing Weakness Outside Of China

Concerning is that global crude steel production outside of China has now contracted on a year-on-year basis for twelve straight months



Global crude steel production totaled 142.4 million tons in February. 
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Gold Gains Amid Weak Economic Data



The rally in oil also seemed to raise concerns for industrial metals

 

Weak economic data weighed on sentiment across the commodity complex. 
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Signal Monthly Market Monitor: Tanker Freight Market


Changing trade flows in Q1 2023


The European Union embargo on Russian petroleum products took effect on 5 February and is based on the $60 oil price cap introduced on 5 December by the major G7 (Group of Seven) countries. 
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Ongoing Strength In China


Significant progress
 

Often in our Weekly China Reports last year, we discussed Chinese efforts to end US dollar hegemony. 
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Vortexa Freight Weekly

OPEC cuts expose VLCCs|| USG dirty rates slide


OPEC+ cuts could shape up the VLCC trade, while leaving the rest of the vessel classes unscathed
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Shipfix - Global Market Update
 

Macro/Geopolitics, Commodity Markets, Freight and Bunker Markets


The past 24 hours have seen the releases of PMI data for the services sectors in the world’s two largest economies.
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