World News
Dry Bulk FFA Market Volume Surges in April
The Baltic Exchange Tuesday in an emailed statement said volumes in the dry bulk Forward Freight Agreement (FFA) and options market have surged 60 percent higher than average in the first three months of 2015.
According to data, April 2015 was the busiest month so far this year, with more than 140,000 lots traded.
“Unlike previous rises in the FFA market, this has come against a backdrop of very low spot rates in the physical shipping market," said the exchange.
"Much of the rise was driven by a surge of interest in Capesize options, 40,000 of which were traded in April.”
By contrast, 4,050 Panamax options and 120 Supramax options were traded in the same time period.
Last month, BIMCO also reported that conditions in the dry bulk shipping market have been “extremely bad” in the first quarter of the year, though it expects the second quarter to have slightly better prospects.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 558.50 | 4.50 | 674.00 | 6.00 |
| Rotterdam | 516.00 | 3.50 | 701.50 | 24.00 |
| Houston | 536.00 | 6.50 | 715.50 | 29.00 |
| Fujairah | 549.00 | 3.00 | 753.00 | 16.50 |
| Global 20 Ports Average | 571.00 | 5.00 | 767.00 | 8.50 |
| Global 4 Ports Average | 540.00 | 4.50 | 711.00 | 19.00 |
| Global Average Bunker Price | 601.00 | 3.00 | 801.50 | 7.00 |
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