FFA 13/01-10

Capes

Another day of trading in a small range passed us buy despite another tick up on the indices. The ratios are still playng their part in keeping the capes firm although a touch of softness entered the market as the afternoon progressed.Nothing is certain as to how we play out the week so expect more of the same tomororw.

Jan 38000 0
Feb 42500 -250
Q1 40875 -500
Cal 10 36750 -750

Panas
Another day with a bearish trend on paper. Overall pmx resulted in being given more often than paid, with good volumes trading. The c/p ratio once again was the subject of highlight today leading to aggresive offers on the pmx. These are the lows of 2010 as the downward trend continued before finding stability at the end of day.

Jan 28500 -2000
Feb 27000 -1000
Q1 27250 -1000
Cal 10 23250 -500