futures market report


MBIOI-62%       83.29     API2: 49.40         Crude: 59.51             Rotterdam 380:    296.50       Singapore 380:   327.00

In short...


Another lackluster day on Cape, the market in the midst of the CNY holidays saw limited movement and volatility, with Q2 remain at $11,000 and march at $7,800. With nothing happening on physical it seems paper has gone stagnant too.

Atlantic futures minus                  Front Haul futures minus                     Pacific futures minus


Another day of curve erosion: Feb trades to $5,300; March trades to $7,400, Q2 trades to $9,250 and the Q3 to $10,000. The Cal 20 Panamax trades $9,300 in volume. Sentiment remains heavy with physical rates under continued pressure and external factors not helping the macro outlook.

Atlantic futures plus                  Front Haul futures plus                     Pacific futures plus

Supramax/ Handy

Smx FFAs lost further ground today with Feb printing from $6700 down to $6400 (-$318). Mar traded down to $8100 (-$161) and Q2 from $9400 down to $9200 (-$209). The cal 21 traded $9300, and interesting to see the P/S nearbys going deeper into discount, while, the Q234 around parity.

Atlantic futures plus                  Front Haul futures plus                     Pacific futures plus

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