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Breakwave Dry Bulk Report
Dry bulk spot rates move closer to seasonal averages as summer begins – With the strongest first quarter for Capesizes in 14 years behind us, dry bulk rates have now moved closer to the typical rate for this time of the year, with the Baltic Dry Index sitting at roughly 15% above the 7-year average.
Amidst Challenging Conditions In The Steel And Property Markets
Doric Weekly Market Insight
Baltic indices continue to express skepticism about the tangible impact of the latest Chinese measures, with trends mostly sideways during the twenty-first trading week.
Latest Developments For China's Excess Housing Supply
From Commodore's Weekly Dry Bulk Reports
April ended with 746 million square meters of floor space available in China's commercial buildings (which includes residential buildings).
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Sentiment Buoyed By Signs Of Economic Growth
Commodities Wrap
Trading was lacklustre with US and UK markets closed. However, sentiment was buoyed by signs of economic growth and dovish commentary from central bankers.
Northeast Asia’s Refineries Face Uncertainties With Ramp Ups Post Turnaround
Vortexa Freight Weekly
Several Northeast Asian refiners are preparing to ramp up runs post maintenance, but a bearish margin outlook may force some to moderate runs.
The Big Picture: Oil Supply Disrupters
Braemar - The real trade changers
Oil demand and geopolitics drive tanker demand, but this year more than most it is oil supply that will provoke the biggest shifts in tanker trade patterns.
The Big Picture: Dry Bulk 360 Degrees
Braemar - China’s iron ore and steel paradox
As China’s iron ore imports climbed 7% year-on-year during January-April, apparent steel demand dropped by -6%, with iron ore inventory rising.
Baltic Dry Index Recorded A Modest Retreat
The Fix - Global Market Update
The Baltic Dry Index recorded a modest retreat the day before yestrday, with weak demand in the mid-sized segments weighing on the headline indicator.
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VLCC Utilisation MEG-To-USG Likely To Decline
Vortexa Freight Weekly
This week, in the East, we discuss why the return of Mexico’s crude exports is likely to dampen VLCC utilisation Middle East-to-US Gulf. On the clean side, we look at how LRs are eating away MR market share in the Pacific.
OPEC’s Dilemma
Gibson Tanker Market Report
Oil markets once again are carefully watching for any comments from OPEC+ officials, with speculation building what the group will decide during their upcoming meeting on June 2nd.
Chinese Consumers Buying More Goods, But Strength Is Lessening
From Commodore's Weekly Dry Bulk Reports
China’s retail sales in April grew year-on-year by only 2.3%, which is even lower than the 3.1% growth seen in March.
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Strong Asian Demand Pushed Global Gas Prices Higher
Commodities Wrap
Profit taking continued to weigh on prices across energy and metal markets. A weaker USD helped push precious metals higher.
Gains For The Capesizes
The Fix - Global Market Update
Gains for the capesizes amid improving demand were broadly offset by continued weakness for the panamaxes on Thursday, contributing to only a modest increase for the Baltic Dry Index.