futures market report


MBIOI-62%       85.00    API2: 50.00         Crude: 59.32            Rotterdam 380:    281.75        Singapore 380:   344.00

In short...


The cape market remained supported first thing with Q2 at $11,500, until negative news from brazil forced the market to drop quickly, Feb traded down to $5,750 and Q2 at $11,000. With the physical still continuing to show no life it's hard to see the premiums remaining where they are across the curve unless we see some dramatic change very quickly in the physical market.

Atlantic futures minus                  Front Haul futures minus                     Pacific futures minus


A familiar story: Values traded lower yet again with Feb trading to $5,800; March to $7,800; Q2 to $9,450 and Q234 to $9,900. The Cal 21 Panamax traded to $9,350 faring better than the rest of the curve. Support on the paper remains both limited and sporadic on the front months and Q2.

Atlantic futures plus                  Front Haul futures plus                     Pacific futures plus

Supramax/ Handy

Smx FFAs drifted further after the index drop of -$39. As a result, March traded $8,200 (-$175) while, Q2 traded at $9,400 (-$132). Nearby positions continue to buy back shorts, but the weakness in the bigger ship sectors is not increasing the urgency to do so.

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