Dry Bulk Update

September 23, 2016

 

Good Morning Superior Maritime,

Dry Bulk:

The good news would be the BDI inched up a bit (4 points) today, but not driven by Cape route assessments for a change.  Both the Cape 5T/C and 4T/C indices are down a smidge but basically remain flat from yesterday.  Last week the Cape 5T/C closed at near $10,000 and today posting just above $15,200.  The Panasisters, Soups, and Handies all gained on paper yet the Sup/Handy indices changed less than 1%.  Yep… it was the BPI

that did the best, gaining over 3% on the assessed routes. 

Cape 5 T/C ~$15,200 per day.

Cape 4 T/C ~$14,200

BPI 4 T/C ~$5,750

BSI T/C ~$7,000

BHSI T/C ~$6,075

 

Dry FFA:

The crew at FIS tells us in their morning report that the curves are trading a bit softer this morning on steady volume.  The Cape paper market had started coming under pressure yesterday afternoon and the physical market today responded in kind.  The traders expect the Panamax curve to trade up while the Soup/Handy curves head a little south. 

Q1-17

Capes $4,200 (-200)

Pmax $4,900 (-100)

Soups $5,000 (-150)

Handy $4,500 (-400)

 

Our friends at Arctic Securities comment on the Cape surge…”The Asia Pacific and Atlantic markets remained strong, and according to Platts it seems the key driver for Capes continued rate uptick is still the Atlantic market as the thin list of ballasters, improved activity and healthy cargo requirements from the region continued to boost sentiment. There is also an interest among owners in the Asia Pacific to fix longer duration voyages, which puts further pressure on charterers to increase freight rates.”

 

 

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