Dry Bulk FFA: Capesize Market on Discount
Capesize FFA Commentary:
Cape paper struggled to break out of a very tight range despite a significant downturn on the indices. The Atlantic saw the sharpest discounting while the Pacific seems to be holding up. The general support down the curve towards close of business lends some credit to the argument that this may be a short pause from the physical before we see some improvement towards the end of the week.
Panamax FFA Commentary:
Despite a quieter feel from the underlying the overall tone remains positive and with there seemingly being enough business coming out of both basins we finally saw a break out on Panamax paper with gains seen the length of the curve. Prompts added ave $500 bucks, with Oct printing $13k high, while Cal18 printed $10000 several times. Good support was evident again at the highs at the close.
Supramax FFA Commentary
Yesterdays closing support finally spilled over to some firmer buying today on Supramax paper with another decent index fueling optimism. We saw Oct and Q4 pushing up to $11575 and $11200 respectively with buyers looking to repeat to the close.
Handysize FFA Commentary
Relatively quiet day on Handy paper with levels range bound and limited fresh interest.
Source: Freight Investor Services (FIS)