Cape paper was well supported today although activity was limited after what has been a week of aggressive selling into a well discounted curve. The physical is still in decline but there’s talk of the market levelling off as we head into next week although the prompt contracts would indicate otherwise. Good weekend to all.
With the index falling and two days of sellers pushing rates lower a quiet Friday was expected as Christmas parties are in full flow but it was quite the opposite. Support came in across the prompt periods halting the sell off and stabilising the curve. Some gains were seen on q1 and q2, printing 6950 and 6900 respectively. We look to next week for fresh enquiry to see which way we are heading into the New Year. Have a good weekend.
A pretty static day to end the Supramax paper week. Jan was one part of the curve slightly more positive as we traded up to $7700. Q1 continued to trade in $6600-$6650 range and Cal 17 also was seen trading $6600-$6650. Have a good evening and a great weekend.
Handysize paper remained relatively unchanged. Have a good evening and a great weekend.
Source: Freight Investor Services (FIS)