A key gauge of bulk shipping rates climbed to the highest since early December, driven by a surge in demand and tightening vessel supply. The Baltic Dry Index rose 5.5% to 2,484 points on Wednesday in London, extending its rally for a ninth straight session. The index tracks freight rates across Capesize, Panamax and Supramax vessels hauling raw materials including iron ore, coal and grains. Deman...
A key gauge of bulk shipping rates climbed to the highest since early December, driven by a surge in demand and tightening vessel supply. The Baltic Dry Index rose 5.5% to 2,484 points on Wednesday in London, extending its rally for a ninth straight session. The index tracks freight rates across Capesize, Panamax and Supramax vessels hauling raw materials including iron ore, coal and grains. Demand was concentrated in Capesize ships, the segment most exposed to iron ore. A Capesize benchmark that’s based on vessels of 182,000 deadweight tons jumped to the highest year-to-date, supported by firm cargo volumes and a tightening list of available ships in the Pacific. Major miners including Rio Tinto Group and Fortescue Ltd. were active in the spot market, helping lift rates as they secured tonnage, according to a research note from Thurlestone Shipping . Activity in the Atlantic also strengthened with Brazil to China fixtures, adding to bullish sentiment. The second quarter typically marks a pickup in iron ore shipments, while demand from China, the world’s top steel producer, enters a busier period as construction activity recovers in spring. Iron ore imports rose 11% year-on-year in March, customs data showed. Singapore iron ore futures advanced 1% to $105.35 a ton at 12:24 p.m. local time.
Mark Mobius, who was known as the father of emerging markets and was among the first fund managers to invest in Hong Kong and mainland China, died on Wednesday at the age of 89, according to a statement on his LinkedIn account. The statement did not give the cause. Mobius was based in Dubai in recent years and remained active in investment via his own firm. He was managing director of Mobius Emerg...
Mark Mobius, who was known as the father of emerging markets and was among the first fund managers to invest in Hong Kong and mainland China, died on Wednesday at the age of 89, according to a statement on his LinkedIn account. The statement did not give the cause. Mobius was based in Dubai in recent years and remained active in investment via his own firm. He was managing director of Mobius Emerging Opportunities Fund. Mobius remained bullish on China throughout his career. In his last...
Getty Images By Warren Patterson , Head of Commodities Strategy and Ewa Manthey , Commodities Strategist Energy: US oil exports jump to record levels The oil market continues to edge lower amid hopes that the US and Iran extend their ceasefire by another 2 weeks, along with a potential resumption in talks to bring an end to the war. However, the physical market is becoming tighter every day that p...
Getty Images By Warren Patterson , Head of Commodities Strategy and Ewa Manthey , Commodities Strategist Energy: US oil exports jump to record levels The oil market continues to edge lower amid hopes that the US and Iran extend their ceasefire by another 2 weeks, along with a potential resumption in talks to bring an end to the war. However, the physical market is becoming tighter every day that passes without a restart of oil flows through the Strait of Hormuz. After taking into consideration pipeline diversions and the trickle of tankers through the Strait of Hormuz, we estimate that roughly 13m b/d has been disrupted. But with the US blockade, this number could creep higher. The divergence between the futures and physical markets is clear: dated Brent traded around $117/bbl, while front-month Brent futures settled a little below $95/bbl yesterday. The key upside risk for the market is that peace talks between the US and Iran break down. This isn’t an unrealistic scenario, given that US and Iranian demands remain fairly wide apart. The latest data from the Energy Information Administration (EIA) shows that US crude oil exports jumped by 1.08m b/d week-on-week to 5.23m b/d - the highest volume since September 2025. However, total oil and refined product exports surged by 1.03 m b/d WoW, hitting a record 12.74 m b/d. These stronger US exports reflect buyers turning to other markets for supply amid disruptions in the Middle East. Despite strong exports, US crude oil inventories declined only marginally over the week, falling by 913k barrels. Refined product stocks saw more meaningful declines, with gasoline and distillate inventories falling by 6.33m barrels and 3.12m barrels, respectively. With buyers shifting toward US barrels, the domestic market is set to tighten as long as Middle East disruptions persist, likely prompting a supply response from US producers. US drilling activity, however, has barely moved since the start of the conflict. According to Baker Hughe...
Robert Way/iStock Editorial via Getty Images Fred Blackford, who heads up Future Positive Global, started buying stock in TikTok's Chinese parent ByteDance ( BDNCE ) on the secondary market last year, betting that the company is undervalued compared with its Silicon Valley rivals, the Financial Times reported. “There was a real mismatch between what a high-quality business we knew it to be versus ...
Robert Way/iStock Editorial via Getty Images Fred Blackford, who heads up Future Positive Global, started buying stock in TikTok's Chinese parent ByteDance ( BDNCE ) on the secondary market last year, betting that the company is undervalued compared with its Silicon Valley rivals, the Financial Times reported. “There was a real mismatch between what a high-quality business we knew it to be versus what it was priced at,” Blackford told FT. Future Positive intends to keep building its ByteDance position despite the risk of making big bets on Chinese tech companies at a time of strained relations between Washington and Beijing. Future Positive constructed its stake through a “handful” of transactions, dealing with both US and international investors: Blackford. ByteDance itself was not involved in the process and did not respond to a request for comment on its new investor, the report said. More on ByteDance Greece to ban social media for kids under 15 from 2027 TikTok doubles down on Finland with second €1B data center - report Financial information for ByteDance
Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) jumped 5.3% in the afternoon session after the technology sector rallied, pushing the Nasdaq near all-time highs, as investors cheered a potential de-escalation of geopolitical tensions in the Middle East amid a flurry of positive news in the artificial intelligence space.
Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) jumped 5.3% in the afternoon session after the technology sector rallied, pushing the Nasdaq near all-time highs, as investors cheered a potential de-escalation of geopolitical tensions in the Middle East amid a flurry of positive news in the artificial intelligence space.
Allegion ( ALLE ) declares $0.55/share quarterly dividend , in line with previous. Forward yield 1.55% Payable June 30; for shareholders of record June 15; ex-div June 15. See ALLE Dividend Scorecard, Yield Chart, & Dividend Growth. More on Allegion Allegion plc (ALLE) Presents at JPMorgan Industrials Conference 2026 Transcript Allegion: The Recent Decline Makes It A Buy Allegion plc (ALLE) Presen...
Allegion ( ALLE ) declares $0.55/share quarterly dividend , in line with previous. Forward yield 1.55% Payable June 30; for shareholders of record June 15; ex-div June 15. See ALLE Dividend Scorecard, Yield Chart, & Dividend Growth. More on Allegion Allegion plc (ALLE) Presents at JPMorgan Industrials Conference 2026 Transcript Allegion: The Recent Decline Makes It A Buy Allegion plc (ALLE) Presents at Barclays 43rd Annual Industrial Select Conference Transcript Tariff shock ripples through industrials as BRP pulls outlook Small- and mid-cap industrials enter ‘next wave’ for rebalancing: J.P. Morgan