Dry Bulk FFA: Capesize Market Under Pressure
Capesize FFA Commentary:
Prompt cape paper came under pressure once again over a quiet day which saw the physical drift in the light of the fact information was incredibly thin on the ground. As various holidays continue and approach as we continue the week it looks unlikely the status quo will change.
Panamax FFA Commentary:
A range bound day on panamax with sellers initially showing their hand. March traded down to $12000 early on and q2 at $13000 before finding support at these levels. After index we saw some late bid interest with march closing $12150 bid and q2 trading at $13225. With Chinese New Year fast approaching volumes were still on the lower side as people remain cautious of the holidays and lack of liquidity.
Supramax FFA Commentary:
A much busier day was witnessed on the Supramax paper yesterday as strong bid support pushed the curve up. Although we saw early selling interest with Feb being sold $9500 and March $10600. The tone soon changed with bids gradually creeping in and offers became few and far between as rates increased. Q2 was trading $11400-$11650 range and Q3 several times $11050.
Handysize FFA Commentary:
Another relatively quiet and static day for the handysize paper, although some action was seen with Cal 19 trading $8800.
Source: Freight Investor Services (FIS)