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Dry Bulk FFA: Capesize Market Loses Value

Capesize FFA Commentary:
Capes lost value yesterday across the curve as reports of softer fixtures hit the market this morning. Dec traded down to $25,500 in some size before finding decent support and settling around $26k. Cal 18 traded down to $15500 and cal 19 $14250. Q1 v Q2 traded several times close to or at Par.

Panamax FFA Commentary:
We saw further downside yesterday on Panamax paper as last nights closing support was broken early on leaving us ave $500 bucks lower by midday. Post index we saw some support develop at the lows on Dec and Q1 at $12100 and $10500 respectively while further out Cal18 traded $10400-10550 range and Cal19 traded $9850-1000 range. We closed well supported again at the days lows.

Supramax FFA Commentary:
Supramax paper continued to soften yesterday as rates slipped throughout. The prompt felt the pressure early as Dec was sold down to $10500. This negative trend was felt throughout the curve as Cal 18 was sold $10,000-$9800 range and the Cal 19 $9800. We ended the day with a few more supporting bids creeping back in.

Handysize FFA Commentary:
Quiet day on the handysize paper, no reported trades.
Full Report

Source: Freight Investor Services (FIS)

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