The physical market led the paper higher today as significantly stronger fixtures were heard in both basins. The C5 fixed up to 5.90 while the C17 was also marked higher with a number of better fixtures. The T/A and the front haul were considerably firmer especially on voyage trades with the C3 approaching 12/mt off early Dec lay days while the C7 fixed at 7.75 and the Port Cartier/Hamburg was done at 9.25 for a 110kt stem. The paper traded up to new highs for the prompt and although some offers were evident on the close, one would expect the market to push on if the physical continues its move up.
With further tightness in the Atl and a more positive Pac feel coming through we saw further gains across the curve on Panamax paper with good volume changing hands. NovDec traded up to $7300 while further out there was some fresh buying evident for the longer dates contracts as Cal17 and Cal18 printed $6300 and $6900 respectively. We close with buyers looking to last and the tone positive.
Supramax paper was once more on the front foot as we opened today proceedings. The prompt ticked up as $7350 was seen trading Nov+Dec and $7300 December alone. Calendar 17 was more positive again as $6400-$6500 range was seen trading throughout the day. Although again index was negative, today -$40 we continued to see the bid support. Have a good evening.
Another day in which the handysize paper remained static and flat. No reported trades. Have a good evening.
Source: Freight Investor Services (FIS)Previous Next
In Conversation With Mr Ajay Reshamwala, Managing Director, Reshamwala Shipbrokers
India Tanker Shipping Trade Summit 2018