FFA 20/1-10

BIG BOYS IN SHIPPING DON'T SEEM TO BELIEVE CHINA WILL TIGHTEN LENDING. THEY USED TODAY AS A BUYING OPPT.

Tone: Continued firm post index with nearby rising 8% and continued very firm into the close

Capes Index $38788:

q1 40000 +500 +2250/day

q2 39750 +750 +2750/day

Cal10 36250 +500 +1500/day 

Panamax Index $28833:

q1 28250 +750 +1000/day

q2 26000 +500 +1250/day

Cal10 23750 unch +250/day 

Smax Index $26016:

q1 23750 unch unch/

day q2 21500 unch +500/

day Cal10 19750 unch unch/day 

IOS Index SPOT $126.50 :

Q1 $124.00 -1.00 unch/

day q2 121.00 -1.00 +1.00/

day cal10 121.00 unch +1.00/day