As the week drew to a close, and Chinese New Year festivities started, cape paper found some support once again. Whilst the physical decline appears to be slowing, some attributed this to a quiet Friday and there is still concern the typically slow week that lies ahead could bring more woes for the capesize rates. Good weekend to all.
After a pretty static start to the day we eventually started to see a softening to the panamax paper market as rates began to drift but with little activity seen. FebMar opened the day trading $7900 and March $8000, however by the close we were lacking competitive bids. Have a good evening and a great weekend.
Supramax paper was subject to a very dull day to end the week but what was pretty much expected. With the Chinese New year here, we struggled to see much interest throughout the day. Have a good evening and a great weekend.
Another quiet day was witnessed by the handysize market with very little activity to report. No reported trades. Have a good evening and a great weekend.
Source: Freight Investor Services (FIS)Previous Next