Capesize FFA Commentary:
It was a positive morning yesterday for cape paper as rates pushed in anticipation of the index breaching $30k. There was however some nervousness about as a quiet afternoon brought on some sharper selling interest allbeit in small volume. Despite the fact Dec may continue to push higher, many are acutely aware of the drop going into Jan and the lack of transactions at these rates which may keep a lid on rates going further out.
Panamax FFA Commentary:
We were better bid from the outset again on Panamax paper with Dec and Jan quickly adding $250 to Fridays close. Despite a midmorning lull we began to see buyers upping their ideas post index with some sharper buying eventually seeing Dec printing $13250 and Jan and Q1 trading up to $12350 and $11750 highs respectively before offers began to thin out making for a slow afternoon.
Supramax FFA Commentary:
Supramax paper witnessed a rather dull start to the new week with little early trading apart from some Q1 $9900. However after a negative index -$29 10TC and -12 derived 6TC some bid support was seen and pushed the rates up but again with limited activity.
Handysize FFA Commentary:
Quiet day on the handysize paper, however did see some action late afternoon with Cal 18 trading $8475.