Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appear to be dragging heavily on the indices. Both paper and the physical saw significant discounting early in the day although paper rates stabilized and ended the week on a quiet note as it appeared much of the negativity had been priced in earlier in the day.
Despite some really resistance we continued to push up today on Panamax paper as the firmer ATL market continues to fuel optimism. Sellers thinned out post index and buyers were left to chase an thin offer side resulting in a sluggish close to an active first week of 2017. The tone remains upbeat. Good weekend to all.
After a fairly static start on Supramax paper we saw some renewed support return post index nudging prompts up a tick and pulling back most of last nights losses. We saw Q1 and Q2 trading up to $7100 while cal17 printed $7250 before sellers thinned out seeingly happy to wait for next week. Good weekend to all.
Quiet day on Handy paper and no reported trading.
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