futures market report


MBIOI-62%       82.21     API2: 47.90         Crude: 54.47            Rotterdam 380:    277.75        Singapore 380:   302.25

In short...


Cracks starting to appear and widen on front end of Capes. March traded $5,600 and April at $8,000; we finally broke the $10,600 level on Q2 and got to a low of $10,400. Further down the cape curve things drifted also with $16,000 printing Q3. With physical seeing no positives on the horizon and with a poor outlook fundamentally we expected premiums to erode further!

Atlantic futures minus                  Front Haul futures minus                     Pacific futures minus


Panamax paper started the week in slightly lower territory than Friday’s close: Feb traded to $4,100; March to $6,650; April to $8,700 and Q2 to $9,200. The Q3 traded to $10,450 and the Cal21 eroded back down to $9,500.

Atlantic futures minus                  Front Haul futures minus                     Pacific futures minus

Supramax / Handy

Supramax FFAs opened the week losing value with Feb trading down to $5,600 (-$364). March opened at $7,100 and traded down to $6,900 (-$279), while Q34 traded first $10,100 and down to $10,000 (-$156) in a full.

Atlantic futures plus                  Front Haul futures plus                     Pacific futures plus

The content of this document is for information purposes only and should not be viewed as trade recommendation, nor solicitation to trade