Dry Bulk FFA: Capesize Market in Thin Trading
Capesize FFA Commentary:
A very thin day for the paper market in terms of volume transacting but rates picked up as Cyclone Joyce was downgraded to a mere gusty breeze. This gave buyers confidence and with the Australian miners back in the market and c5 fixing back up at 6.10 pmt, the FFA market had a welcome adrenalin shot with the curve liftting. However, with sellers as rare as hens teeth there was not much activity with buyers not prepared to chase for offers ahead of the weekend.
Panamax FFA Commentary:
The week closed on a positive note with early gains across the curve as sellers were happy to wait. Q2 and Q3 were the main focus seeing buyers at $12800 and $11400, +250 on Thursdays close before sellers showed their hand. A quiet afternoon led to little change but seeing bid support in the close.
Supramax FFA Commentary:
After a very active week was witnessed on the Supramax paper, we ended with a dull and uneventful Friday. We continued to see the curve supported from the bid side but really lacked any activity.
Handysize FFA Commentary:
Handy paper remained very flat with little interest down the curve. No reported trades.
Source: Freight Investor Services (FIS)