Dry Bulk FFA: Capesize Market Ends Week on Positive Note
Capesize FFA Commentary:
A very positive end to the week in both the physical and paper markets are rates continued to firm in all areas. December has started off in a very bullish fashion wih tonnage tight in both oceans and weather delays still causing aggravation in China. The paper curve remains steeply discounted into cal 18 suggesting that longer term, fears remain over port maintenance and weather disruptions in Q1 but overall, owners are finally turning a profit after a bleak few years. The question is will they continue to slow steam or will the temptation to run at full speed prove to be too much? Have a good weekend.
Panamax FFA Commentary:
We close the week on yet another positive note with prompt periods the main focus once again. December started the week trading $11300 and steady gains each day have seen us closing $2000 up on the week with $13300 being the highest print today. With the physical still strong and a short index month, expectation is for much of the same next week before the festive period kicks in. A good weekend to all..
Supramax FFA Commentary:
Supramax paper continued the trend seen throughout this week with rates ticking up once again as the week came to a close. Dec was trading in $11300-$11600 range and the Cal 18 $10200-$10300. Have a good evening and a great weekend.
Handysize FFA Commentary:
Quiet day on handy paper with no reported trading.
Source: Freight Investor Services (FIS)