Dry Bulk FFA: Capesize Market Under Pressure
Capesize FFA Commentary:
Capes came under continued pressure this morning with further losses on the Index yesterday. The front months lost most value as expected with Apr trading down to $13700 and q2 $15000. Q3 and Q4 also same under pressure as well with Q3 trading down to $17500. Q2 v Q3 was trading circa $-2500 and Q3 v Q4 close to $-4600.
Panamax FFA Commentary:
It was a tale of two halves yesterday on Panamax paper with the curve coming under pressure throughout the morning session with April sold down to $13500 and Q2 dragged down to $13300. However post index buyers stepped back in and we saw April and Q2 rebounding to print $13800 and $13700 highs respectively, only to drift off the highs at the close leaving us relatively flat on the day.
Supramax FFA Commentary:
Supramax paper opened the day on a softer note once again as pressure from the larger sizes filtered down. Q2 was sold down to $12350, Q3 $11650 and Q4 $12600. After a more positive index than expected (10TC 106 & 6TC $126) bid support crept back in again with Q2 trading back at $12500.
Handysize FFA Commentary:
Quiet day for the handysize paper with very little to report.
Source: Freight Investor Services (FIS)