Dry Bulk Update

Dry Bulk Update:

The Cape surge continues to dissipate, dropping 2% since yesterday leaving rates around the $14,500 range. On a brighter note, the BPI rates gained about $100 today. The Soups and Handies are flat/unchanged.

Dry FFA: The paper market opened softer on the Capes this morning as the curve dropped ever closer to the physical market levels.

OCT-16

Capes $11,100 (-175)

Pmax $6,650 (+25)

Soups $7,000 unchanged

Handy $5,800 unchanged