Dry Bulk FFA: Capesize Market Jumps on Weather-Related Delays
in Dry Bulk Market,International Shipping News 17/10/2017
Capesize FFA Commentary:
Both the physical & the paper market gapped up quickly this a/m as weather delays in China caused chaos to replace delayed ships. The C5 fixed at 8.45, 8.60, 8.80 & 8.85 with unconfirmed reports of 9.00 having been concluded for prompt dates. The indices were marked sharply higher & the derivative also pushed from the outset with Oct trading $21500 (+$1500), Nov up to $19250 (+$1150), Q4 up to $18900 (+$1000) and the Cal 18 at $13600 (+$300). If the morning session was fast paced, then the afternoon made coastal erosion look quick. Paper traders sought further reassurance from the physical market while sellers were happy to hold off to see if further gains could be acheived. The net result was a standoff not seen since Liverpool ‘entertained’ Man Utd on Saturday with all the excitement of a defence led nil, nil draw.
Panamax FFA Commentary:
A positive start to the week with the main focus being prompt periods. November saw the greatest gains trading up to $13950, in turn pushing Q4 upto $13200. We did run into a few sellers at these levels in the afternoon session and came off the days highs on the close with November trading down at $13700.
Supramax FFA Commentary:
Supramax paper opened on a stronger note once again as the prompt months ticked up and leading the Q4 to print $12100. With another strong index $139 10tc and $168 derived 6TC the cure remained supported in the afternoon but really lacked liquidity as we drifted to a close. Have a good evening.
Handysize FFA Commentary:
Quiet start to the handysize paper week with very little to report. No reported trades. Have a good evening.
