Welcome to Breakwave Advisors Weekend Read
As we conclude the workweek and head into the weekend, take a moment to review the key articles from this week, including those you've highlighted. Ηeadwinds for most commodities, The Strait of Hormuz, a critical transit point for global oil supplies, Chinese Stimulus, The Big Picture: Australian coal exports
and more.
Breakwave Tanker Report
VLCC Rates Jump Amid Geopolitical Turmoil but Demand Risks Remain – The VLCC market in the Arabian Gulf (AG) experienced two distinct halves at the beginning of October.
Transport authorities project that 1.94 billion trips will be made during this year's holiday week, a slight increase from last year and nearly 20 percent higher than 2019 levels.
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Doric Weekly Market Insight
Chinese Stimulus
Chinese oil demand has been underwhelming this year.
Gibson Tanker Market Report
China Uniquely Positioned to Carry Out Its Stimulus Bazooka
China’s “stimulus bazooka” was the biggest news in the market last week, but also important is that the central government announced that it will be strictly limiting the construction of new housing.
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From Commodore's Weekly Dry Bulk Reports
Lack of new stimulus measures triggers selloff
Metal and energy markets came under pressure after China failed to deliver fresh stimulus measures.
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Commodities Wrap
Central bank mission creep is over. What does “normal” now look like?
The main objective of central banks is to curb inflation. But what is the mission in a world that deflates? Does one cease to care, or do they expand the job?
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Forvis Mazars Weekly Note
The Strait of Hormuz, a critical transit point for global oil supplies
Tensions between Israel and Iran have risen sharply after Iran fired over 200 missiles at sensitive Israeli sites in one of the most significant escalations in recent years.
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Intermodal Weekly Market Report
Ηeadwinds for most commodities
The Baltic Dry Index declined for a seventh consecutive session on Tuesday, but unlike recent days, only the capesizes contributed to the loss.
The Fix - Global Market Update
Global crude export declines pause in September, but Atlantic Basin remains constrained
Global crude/condensate exports from non-sanctioned suppliers stood almost unchanged in September, despite sharp reductions from some key producers during the month.
Vortexa Freight Weekly
NW Europe MR mileage at record lows as gasoline demand weakens
Suezmaxes laden with Middle Eastern crude/condensates (excl. Iran) are increasingly heading towards the Atlantic, rather the Pacific Basin
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Vortexa - Global Freight Snapshot
The Big Picture: Australian coal exports
Our first comment is that it has been thermal coal behind most of August’s export improvement,
Braemar Weekly Dry Market Report
Recent Jump in Reported Dry Bulk Spot Cargoes
Overall dry bulk spot freight rates decreased last week, with only handysize rates rising.
From Commodore's Weekly Dry Bulk Reports
This week's focus is on the increasing dependence of Southeast Asian countries on dry bulk coal flows, particularly as China and India are expected to reduce their share in the coming months.
Signal Ocean - Dry Weekly Market Monitor