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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FREIGHT
An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days widened to 32%, according to Bloomberg sources.
- This is the widest since Oct. 13 and compares to 30% a week ago, Bloomberg said. The average for the past 12 months is 25%.
- “The hope is now that with the majority of the third decade still needing to be covered, rates will bottom and slowly start to increase but with the lack of support from the West, sentiment will remain on uneven ground heading into next week,” Gibson Shipbrokers said regarding exports for July 21-31, cited by Bloomberg.
- Earnings on the benchmark ME-China route fell to $23,749 July 5, a year-to-date low, according to Bloomberg citing Baltic Exchange data.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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