FFA rates rise in tandem with spot

摘要

Taking cue from bettering sentiments, reflected in rising spot rates, the FFA market recorded gains of 20-30% in rates across the board. The Capesize December forward agreement, for instance, improved from an average of $25,969pd in July to $32,780pd in August. However, as market participants expect the freight levels to witness a downward correction, buyers appeared to be somewhat wary of purchasing FFA agreements during the month. Capesize derivative volumes thus declined in August by about 10% from last month.