Dry Bulk FFA: Capesize Paper Market On A High

20 November 2017

Capesize FFA Commentary The International Container Transshipment Terminal (ICTI) registered its highest ever monthly throughput of 51,019 TEUs for October, 2017.

This improves on the previous record throughput of 50,842 TEUs hit in August 2017.

Kochi Port has also handled a total of 16.45 million tonnes of cargo between April and October in the current financial year, representing growth of 17.65% over 2016-17.

Containerised cargo traffic has shown rapid growth of 12.73% during the April-October, 2017.

Kochi port appears to have grown nearly 20% during the financial year till September, 2017, figures from the Indian Ports Association shows Kochi has the highest rate of growth of the major ports in India for the current financial year.

However, the Halida Dock Complex in Kolkata on India’s east coast came a close second with nearly 18% growth during the period.

This compares with the national average for port growth of 3%.

It was a growth of 80%. The port had handled 25.01 million tonnes of cargo during 2016-17 with a growth of 13.2% against the 22.10 million tonnes of cargo during the previous financial year.

The total containerised cargo handled by the terminal here during 2016-17 stood at 4.91 lakh TEUs with a growth of 17%.

Source: Port Technology

An active physical market once again yesterday with rates steady across the board. The paper market saw this as a positive move and the curve lifted especially the prompt contracts with the Nov and Dec recording significant gains.

Panamax FFA Commentary:

A slower day in general on panamax. Buyers returned across the curve and sellers appeared happy to wait to see if a push materialises. December traded upto $10600 and q1 printed $9700. The backend showed some renewed support with cal18 trading at $10200 and 10250. With the index still continuing to see negative numbers we await fresh physical information to see if a change is imminent.

Supramax FFA Commentary:

Supramax paper responded to the selling we saw the day before yesterday as bids were present again and the market ticked back up throughout the day/ The Dec was the main focus for trading as it was seen in a range of $9800-$10200. Seemingly with index slowing down the bid support remained in the afternoon as offers were thin.

Source: FIS