Into the Futures: The commodity derivatives podcast brought to you by Freight Investor Services

Technical analysis is a method used to forecast price movements based on historical market data, such as prices and trading volumes. With origins dating back to the 17th century, it has long been used to identify market trends and support investment decisions.In today’s episode, Ed Hutton explains what technical analysis is, explores its history, discusses the importance of using candlestick charts correctly, and shows how traders can derive insights from price movements and historical patterns.

The ongoing crisis in the Middle East has brought shipping back into sharp focus. From the future path of energy prices to the flow of grains through key chokepoints like the Strait of Hormuz, uncertainty is driving renewed attention across global markets. It’s in moments like these that having a privileged point of view, what you might call a view from the engine room, can help us interpret what’s happening in real time. To help us make sense of it, we are joined by Camillo Castagnola, General Manager at York Overseas SA a grains shipping company, to take a closer look at what’s happening in the physical side of shipping.

In this episode, we’re discussing how rising tensions in the Middle East could impact the global LNG market and, ultimately, European gas prices. Europe has become increasingly dependent on LNG imports since the disruption of Russian pipeline flows following the Russian invasion of Ukraine. At the same time, a significant share of global LNG passes through sensitive shipping routes such as the Strait of Hormuz. So the key question is: how vulnerable are LNG markets—and European gas prices—to geopolitical escalation in the region? To explore that, I’m joined today by Natasha Fielding, Editorial Manager at Argus Media, who will help us unpack the risks for LNG supply, shipping routes, and European gas markets.

In this episode, we are joined by Thanasis Davakis founder of a risk management consultancy Just Freight with a background in mathematics and finance, and former experience at Navios developing hedging strategies. We explore the geopolitical forces shaping today’s freight markets, from Red Sea disruption and a potential Suez reopening to the possible end of the Russia–Ukraine war and growing uncertainty around global green policy. Together, we unpack how these inefficiencies and policy shifts are influencing rates, risk, and decision-making for shipowners and traders. Thanasis shares practical insights on navigating volatility, building smarter hedging strategies, and managing freight exposure in an increasingly unpredictable market. A sharp, forward-looking conversation connecting global events with real trading and shipping dynamics.

On the 3rd January 2026, the United States military launched Operation Absolute Resolve, an operation that led to the capture of Venezuelan President Nicolás Maduro and his wife in Caracas. President Trump stated that the US would “run Venezuela” and that American oil companies would step in to help “fix the badly broken infrastructure”. Venezuela’s strategic importance, however, extends well beyond oil. The country holds significant reserves of a wide range of commodities, raising important economic, market and geopolitical questions.In this first episode of Into the Futures, Richard Stephenson examines the implications of recent events, the changing US foreign policy, the outlook for Venezuelan commodities, and what this could mean for global financial markets.

This latest episode of Freight Up tracks the markets with a strong focus on capesize bulk carriers and the shifting opportunities in iron ore spreads.I’m Jess, and alongside Davide, I’ll be steering you through what’s been a dynamic couple of weeks across freight and commodity markets. This week, we dig into why the capesize segment has outperformed, the forces shaping paper and physical market moves, and how macroeconomic shifts in China and the West are starting to make their mark. We also welcome Ben Klang for a guided walk through the supply side changes impacting vessel values and orders, and bring in Hao Pei from Shanghai for a deep dive on iron ore and coking coal. To tie it all together, Archie Smith closes with an update on what’s shaping fuel oil and crude benchmarks, and why it’s been a sideways stretch for paper spreads.If you listen in, you’ll get a clear overview of how China’s latest manufacturing PMI numbers and consumer price dips are casting a shadow, putting a tighter squeeze on iron ore and freight rates. We cover the upturn in capes, with spot indices making their highest push yet this year, gains on FFAs, and a turnaround in Panamaxes driven by robust South American grain flows. Ben helps make sense of the slowdown in secondhand vessel sales, explaining why average vessel ages are climbing and why scrapping is nearly at a standstill, even as demand feels subdued. We break down the logic: owners are holding onto older tonnage, newbuild orders have fallen to historic lows, and low earnings are nudging many to wait for clearer regulatory and market signals before acting. This creates a backdrop of supply that’s hard to clear, explaining the persistent pressure on rates.From the commodities desk, Hao Pei explains what’s behind the compression in the MB65-P62 iron ore spread, pointing to an unusually loose supply of premium ore, increased concentrate shipments, and why investors see more upside than risk at these levels. The episode also unpacks a sharp rebound in coking coal, as policy rumours and production cuts meet sustained low demand—a situation that looks precarious but sets the stage for future price action. Finally, Archie brings the fuel oil discussion up to date: crude oil’s recent climb is reviewed alongside OPEC’s output strategies and why Singapore’s high-sulphur fuel oil spreads have cooled. There’s especial attention on arbitrage opportunities and the persistent strength of European very low sulfur fuels compared to their Asian counterparts.By the time you’ve finished listening, you’ll be able to identify the major factors currently moving the key freight indices for capes and panamaxes, understand how vessel age and supply trends are affecting rates, and spot where different market players are seeing opportunity or sitting back. You’ll come away with a clearer sense of the iron ore and coal market mechanics, and you’ll have better insight into the drivers behind recent fuel oil and crude benchmark performances. Whether you’re looking to inform a trade, better time a market entry, or just get a precise read on what’s shaping dry bulk and commodity shipping, this episode will give you the ground-level detail and wider context you need.

The main story across freight and commodities over the past fortnight has been the headline-making 90-day tariff reduction between the US and China. Hi, I’m Jess, and on this episode of Freight Up, myself and Davide unpack how this policy shift has tempered volatility and delivered a short-term lift to otherwise flat markets. Ben Klang joins us after a busy run of industry events, detailing the impact on dry freight—where Capesize contracts saw a fleeting rebound before losing ground, and smaller Panamax and Supramax rates remained lacklustre. We’ll investigate the cautious optimism on the macro front, following stubborn inflation and steady US employment numbers. We'll also take a closer look at iron ore and steel markets, with regional insights you won’t want to miss. From Shanghai, Hao Pei explores iron ore’s resilience—even as tariffs shift—and the mounting influence of port logistics in Peru and ongoing maintenance cycles in China. Timestamped summary00:00 Mixed Inflation and Market Stability03:32 Cape Size Contract Fluctuations08:06 Steel Tariffs Impact and Trade Dynamics10:44 FOBCC Market Outlook Uncertain13:24 US Steel Market Challenges18:10 "Spot Price Drop Forecasted"Website Check out FIS Live - https://www.fis-live.com/

This podcast episode delves into the pressing topic of the current state of the freight and commodity markets, particularly in the context of the influence of Donald Trump’s administration. The discussion initiates with an analysis of recent fluctuations in key commodity prices, including significant declines in dry freight markets and iron ore values. Subsequently, I engage in a comprehensive dialogue with Richard Stephenson, CEO of Freight Fix, who elucidates the evolving dynamics of global trade patterns and the ramifications of tariffs instituted under Trump’s economic policies. We critically assess the historical context leading to the present circumstances, identifying the long-term effects of financialization and the geopolitical shifts that have emerged in response to these policies. As we navigate through these complexities, we underscore the necessity for traders and stakeholders to adapt to an increasingly interconnected and shifting economic landscape.Takeaways:The podcast discussed the recent downturn in dry freight markets, indicating significant rate drops since mid-March. Richard Stephenson elaborated on Freight Fix's analytical approach to shipping and trade, emphasizing data-driven decision-making. The conversation highlighted the impact of Donald Trump's policies on global trade, particularly tariffs and their consequences. The hosts noted the historical context of U.S. trade dynamics, tracing back to the post-war era and economic shifts. A significant point raised was the transformation of trade patterns due to tariffs, affecting traditional routes and buyer-supplier relationships. The discussion concluded with reflections on the future of trade, emphasizing the increased importance of regional collaborations over traditional dependencies. Links referenced in this episode:freightfix.comfisglobal.comCompanies mentioned in this episode: FIS Freightfix Donald Trump OPEC BYD Tesla JP Morgan Pershing Square

In this episode, we explore significant price fluctuations in the iron ore market with Hao Pei decoding the impacts of China's crude steel restrictions and market rumours on iron ore prices. Hello, we're Jess and Davide, and we welcome you back to another insightful episode of Freight Up – your go-to podcast for the latest in freight and commodity markets from Freight Investor Services or as some of us know us, FIS. This episode we ask why coking coal prices are being corralled or which forces in the Middle East might unsettle the stabilizing oil market? Hao unravels these subjects and offers insights into potential market trends. Meanwhile, Archie Smith tackles fuel oil market intricacies, detailing price behaviours and geopolitical factors that traders must watch. As the world shifts closer to sustainable energy solutions, our captivating battery metals segment features Abex Commodity Futures Exchange’s Joe Raja and Sascha Lefschitz. They share with us the course of innovative futures contracts and how they're reshaping risk management, offering traders more robust tools for the evolving battery landscape.Timestamped summary00:00 China: Deflation, Growth, and Shipping Trends03:30 Iron Ore Market Volatility08:36 Ukraine War Truce and Oil Impact13:33 Rare New Futures Exchange Launch17:02 Launching Nickel and Lithium Contracts20:25 Comprehensive Risk Management Tool21:51 Subscribe for Biweekly Freight PodcastLinks referenced in this episode:abex.comfislive.comfreightinvestorservices.comlinkedin.com

In this week's episode, we'll explore the recent movements in the dry bulk freight rates, where the cape size segment has notably hit a two-year low, and the factors influencing these changes. Hello, we're Jess and Davide, and we welcome you back to another insightful episode of Freight Up – your go-to podcast for the latest in freight and commodity markets from Freight Investor Services or as some of us know us, FIS. We'll also gain a valuable perspective from our guest Ben Klang, who provides an in-depth view of the current dynamics in iron ore and coking coal markets. Plus, you'll hear from our highly knowledgeable carbon emissions broker, William Addison, on the evolving situation in the European carbon markets.

Hello, Jess here from Freight Up! Welcome to our latest episode, "Navigating 2025 - Freight Market Trends, Tariff Turbulence, and Green Horizons." In this episode, we take a serious deep dive into the current dynamics reshaping the freight and bulk commodity markets as we enter 2025. You'll hear our discussions on the latest economic data from the US and China, key trends in the dry bulk market, and the impact of new greenhouse gas regulations. If you're looking to stay ahead of the curve in an ever-evolving market, this episode is packed with insights you'll want to hear.We kick things off with a detailed look at recent economic developments. In our discussion with Ben Klang, we tackle the supply-demand dynamics in the dry bulk market. Ben gives us a grim outlook: a sluggish Chinese economy, Trump's proposed tariffs, and the geopolitical landscape all suggest impact.00:00 China's Growth, Inflation, and Trade Updates04:06 2025 Dry Bulk Market Outlook07:45 Capesize Stabilises, Panamax Falls09:56 US Politics Drive Oil Price Fluctuations

With a new Covid variant oil’s price has sledged down a hill, while Panamaxes have stormed ahead in the dry freight market, all on this week’s podcast. Disclaimer: freightinvestorservices.com/castaway-disclaimer/