Dry Bulk FFA: Capesize Market On Sky High

4/12/2017

Capesize FFA Commentary:

Capes rocketed again as the final settlement day of November came with another strong index. December traded up to $24600, the discount from index dramatically swallowed up by both closing shorts and buyers taking new positions. The physical market seems set to continue for now with higher levels being fix day on day. Talk of a $30k index now seems well within reach and would be very welcome in the shipping sector….the future looks bright.

Panamax FFA Commentary:

With both basins continuing to gather momentum we saw further gains across the curve today on Panamax paper with prompts adding ave $500 in line with jump in the index. Dec and Q1 traded up to $12700 and $11250 highs respectively before seeing some resistance forming while Cal18 printed $11k several times. The tone remains positive and with the capes seeing another late rally we saw a few probing bids return at the close just off the days highs.

Supramax FFA Commentary:

Supramax paper opened yesterday with the positive trend seen of late as rates ticked up furthermore. Dec was trading $11,000 – $11300 range and the Cal 18 burst through the 10,000 barrier. Index continues to be positive but still is not anything spectacular, however the positive momentum continues.

Source: Hellenic Shipping