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Dry Bulk FFA: Capesize Market Looking For Balance

Capesize FFA Commentary:
Cape paper saw an early push which seemed to be fuelled on rumours of bigger physical fixtures that failed to materialise. C5 did print 7.10 & 7.15 which was later reflected in the index but the Atlantic posted small losses causing most periods on the curve to retrace in a quiet afternoon session. Whether the premium FFAs hold over spot can last much longer on remains to be seen.

Panamax FFA Commentary:
Another busy day on panamax with buyers once again returning to the market. Prompt periods hit new highs with march trading upto $13400 and q2 printing $14250 whilst deferred saw renewed interest as cal19 reached $12500. With index still seeing solid gains buyers were still present in the afternoon but we ran into some selling interest on the close as we came off the days highs

Supramax FFA Commentary:
Supramax paper once again witnessed the positive momentum seen of late with rates pushing throughout the day. March reached a new high of $12,100 and the Q2 was paid $13000. Index which was slightly better than expected $168 10TC and $198 derived 6tc, leading to another supported afternoon with limited offers down the curve.

Handysize FFA Commentary:
Quiet day on handysize paper with very little to report.

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Source: Freight Investor Services (FIS)

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