Good morning Superior Maritime,
We start the week as we ended last Friday, with three out of four component indices of the BDI in the green. The bad news is the one indice that dropped (BCI) overtook the modest gains the smaller assets classes reported, resulting in a -7 point adjustment to the broader index.
Cape 4 T/C ~ $14,000 -400
Cape 5 T/C ~ $14,775 -400
BPI 4 T/C ~ $5,900 +130
BSI T/C ~ $7,025 +20
BHSI T/C ~ $6,100 +10
Our friends at FIS tell us in the morning report that the Capes opened weaker with Far Eastern sellers setting the tone on light volume. The Panasister curve is also a touch weaker while the Soups are holding steady.
Capes $11,000 (-600)
Pmax $6,750 (-150)
Soups $7,400 (-100)
The frozen chosen crew at Arctic Securities who put out one of the best daily reports available tells us today “according to Platts the Atlantic still remains stable and may continue to support the Capesize market as a whole. They note however that the tonnage list in the Asia Pacific region continues to be long, and upcoming holidays could further dampen the sentiment.” Not sure how you folks read that, but I don’t feel reassured.