FIS Capesize & Panamax FFA Report

Capesize Commentary

    After sharp rises over the last few days on both the ffa curve and the indexitself many were expecting the push to slow down today. For the most partof the morning it seemed stale, the q3 and q4 both hovered around 9000and 13150 respectively however yet more bullish news filtered through from the physical causing the q3 up to 9650 and q4 to 13600 on the backof short covering. The TC index is looking like it will soon be moving in tofive figure territory so its very possible we see more blood shed in thecoming days.

    Panamax Commentary

    Relatively range bound day of trading on Panamax paper withlevels only marginally firmer on hopes that activity in Atlantic willremain steady. Most interests were resigned to the front of thecurve with July and Q3 trading up to $6600 and $6500 respectively.