A negative day for the capers today as both the paper and the physical were marked sharply lower. Holidays in Asia curtailed activity in the Physical market and some long liquidation drove the paper down. It’s too early to say that the recent upturn is completely over but it feels like any reversal of fortunes will only be next week. Have a good evening.
More of the same today with levels gradually easing as sellers chip away at the front of the curve, albeit with an air of caution, as the impending holidays muddy the physical outlook. Sept and Q4 traded down to lows $5300 and $6300 with little change once again further out.
Supramax paper was seen to be softer from the start along with the larger sizes. The prompt months lacked bids all day and eventually was seen trading $6700. Q4 traded in $6800-$6700 range. How ever The Cal 17 remains rather well supported as 5850 was seeing trading throughout the day. Have a good evening.
Quiet day on handy paper, no reported trades.
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