Dry Bulk FFA: Capesize Paper Market on the Mend
Cape paper slipped in early trading which saw June trade down to 13600 & Q4 trade down to 18100. Rates did however rebound post index despite the overall lack of activity and a reduced number of market participants out due to national holidays.The physical appears to be finally catching up with the FFAs but it remains to be seen if this will continue to be the case as the week progreses.
A very quiet day on the pmx side with limited interest due to the numerous worldwide holidays. We saw prompt periods soften slightly early on as May printed down to $9400 and q3 at $10350 before finding support at these levels. Q3 v q4 spread continued to widen trading at -750 with q4 seeing buyers at $11000. The backend saw little change with the cal20 printing in a tight range of $9750-9800.
Commentary Supra quiet day on the Supramax with limited rangebound trading due to the holidays. May printed $9000- 9050, june at $9400 and q4 at $10700. We hope for a busier day today.
Another quiet day for the handysize paper. No reported trades.
Source: Freight Investor Services