Dry Bulk FFA: Capesize Market on Another Positive Day
Capesize FFA Commentary:
Another positive day for the big ships as the Atlantic continues to edge higher and the paper remains at a discount to the spot. Some good volume changed hands today as buyers gained confidence. We are now at the years high’s for the December contract and the technicals suggest that the upward momentum is starting to wane. An interesting end to the week is in store if the IOS continues in its journey to the moon.
Panamax FFA Commentary:
An uptick in activity in both basins has brought with it some much need stability to the market today on Panamax paper with rates holding a steady range through most of the day. With the index back into positive territory we saw sellers thin out once again in the afternoon session with some good support evident at last done towards the close.
Supramax FFA Commentary:
The supramax paper opened on a more positive note with some bid support on the Dec as 10500-$10600 range continued to trade. However activity levels stalled slightly until index when 10tc was $220 and derived 6tc $54, when we saw the Calendar 18 tick up trading up to $9850. Have a good evening.
Handysize FFA Commentary:
Another very quiet day with regards to the handysize paper, with little to report. Have a good evening.
Source: Freight Investor Services (FIS)