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Wednesday
Nov022016

Atlantic Basin Clean - The Day After

With news that the Colonial pipeline will be repaired fairly soon - clean markets have cooled down since yesterday’s spike.  Many ships that were “sub-fixed”, meaning - final confirmation was still needed - have failed.  

Rates are haard to peg when these wild swings happen - but in Worldscale terms, TC2 dropped from 150 yesterday to 130 today - with the November FFA dropping from 120 to 112 in the same time frame.

The key, of course, is to see if the repairs actually get done by Saturday. If the repairs require much more time beyond that - rates will turn up again.

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