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FIS Supramax & Handysize FFA Report 17-Nov-08

Supramax TC
6 TC's

Spot 5,974
MTD 5,630
YTD 46,032
Bid
Offer

Per
Nov

6,000

7,000

Dec

7,500

8,500

Nov-Dec

6,750

7,750

Q1 09

9,000 10,000

Q2 09

11,750 12,750

Q34 09

14,500 15,000

Cal 09

12,500 13,500

Cal 10

13,250 14,250

Cal 11

13,000 14,000

Cal 12

12,750 13,750

Spread
1,593
1,285
13,764

164

Mid
6,500
8,000
7,250
9,500
12,250
14,750
13,000
13,750
13,500
13,250

Chg

Handysize TC
6 TC's

Ratio
1.36
1.30
1.43

Spot 4,381
47
MTD 4,345
YTD 32,268
Bid
Offer
Per

Spread Ratio

250

1,500

1.30

Nov

4,500

5,500

Dec

1,500

1.23

6,000

7,000

375

1,500

1.26

Nov-Dec 08

5,250

6,250

125

1,500

1.19

Q1 09

7,500

8,500

3,500

1.40

Q2 09

8,250

9,250

3,500

1.31

Q34 09

10,500 12,000

250

3,125

1.32

Cal 09

9,250 10,500

-125

3,250

1.31

Cal 10

10,000 11,000

-125

3,250

1.32

Cal 11

9,750 10,750

-125

3,250

1.33

Cal 12

9,500 10,500

Supramax Routes
Close
7,510

Close
9,194

Mid
5,000
6,500
5,750
8,000
8,750
11,250
9,875
10,500
10,250
10,000

Chg
0
0
0
0
0
0
0
0
0
0

Handysize Routes

S1A
Chg MTD
YTD
Close
265
7,307 56,863
7,924

S1B
Chg MTD
YTD
Close
106
7,569 58,465
3,421

S4A
Chg MTD
YTD
Close
374
7,693 73,030
4,395
Notes

S4B
Chg MTD
YTD
Close
117
4,134 30,708
3,529

Chg

HS1
HS2
MTD
YTD
Close Chg MTD
YTD
7
3,509 24,987
3,629
36
3,551 24,990

HS5
HS6
Chg MTD
YTD
Close Chg MTD
YTD
61
3,258 29,356
3,714
35
3,494 28,658
Notes

Supramax FFA Comment

Handysize FFA Comment

Quiet day with only one trade reported. The larger sizes also lacked
a clear direction and with most spread interest being quite wide,
firm prices on the supramax market are hard to come by.

The Handy market was very quiet with thin interest and most real
firm prices focussed on the deferred where there remains some
strong optimism.

12,000

16,000

10,000

14,000
12,000

8,000

10,000
8,000

6,000

6,000

4,000

4,000
2,000

2,000
0

0
Spot

Nov

Dec

Cal09

Cal10

Cal11

Spot

Nov

Dec

Cal09

Cal10

This comment and analysis has been prepared by FIS for the purpose of trading and may have been acted upon by FIS and its officers, employees and its associated
companies and is distributed to customers and to the general public for information purposes only and cannot be relied upon as a trading
recommendation and does not constitute a solicitation to trade. FIS Ltd. is regulated by the FSA. 2007 Freight Investor Services Limited

Cal11