In Dry Bulk Market,International Shipping News 28/11/2016
Capesize Commentary:
In an almost carbon copy of the previous day the Dec traded up in Asia although volumes were very light and the rise was capped at 12k. Upon Europe opening, more sellers appeared and rates retraced again, while the rest of the curve remained very stable. There’s no doubt the physical market is in for a substantial correction but paper has already priced this in and will most likely need to see a rapid deterioration before falling further.
Panamax Commentary:
Despite opening well supported we gradually game under pressure on Panamax paper with prompts easing ave $200 through the day. Selling still remains cautious however and as a result activity remains relatively light as many continue to look for a clearer indication from the underlying.
Supramax Commentary
A very indifferent day was see on the handysize paper. Of late we have seen the prompt strong and back end weaken. However was opposites today as Dec was sold $8900-$8800 and the Q1 $6250. Calendar 17 was stronger being paid $6400-$6475. Index continues to show positive numbers as $237 was printed today. Have a good evening.
Handysize Commentary
Another quiet day was in store for the handysize paper today with little change down the curve. Have a good evening.
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Source: Freight Investor Services (FIS)
