Thursday, January 04, 2018 6:25:46 AM
in Dry Bulk Market,International Shipping News 04/01/2018
Capesize FFA Commentary:
The bullish tone on capes continued yesterday with paper rates surging on the run up to index. C5 reported at 6.45 & 6.50 combined with rumoured C7 fixed 10.50 in early trading resulted in a near 10% jump on the 5TC index pushing the headline rate through $16k again. There was a lull in the early afternoon session but rumours C7 fixed at 11.30-11.40 brought a fresh wave of buyers as we approached the close. Expectation is for further gains as the week progress.
Panamax FFA Commentary:
It was a far more active day on Panamax paper yesterday with the curve opening well supported in lieu of the bullish Capes and saw buyers further sharpening their ideas post index. Jan traded up form $11100 to $11500 while Feb bounced from $10600 to $11500 as buyers had to chase a thin offer side. Similarly down the back end of the curve we saw rates up ave $500 with sellers once again hard to come by. We closed well up on what was a scrappy day as many still try to gather a feel for the underlying post holidays.
Supramax FFA Commentary:
After a trade less start to the new year yesterday, Supramax paper opened the day with strong bid support again and lacking offers. Jan was seen trading $10,000-$10,200 range, but the majority of the activity was seen in the Calendars. The Cal 18 reached $10500 and the Cal 19 $10250, both being new highs for these periods.
Handysize FFA Commentary:
Another relatively quiet day was seen by the handysize paper, as the main focus was on the larger sizes. However we did see the Cal 19 trading $8750.
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