We’re coming up to the Christmas festivities and the sentiment in the market is extremely robust. Although the physical commotion isn’t anywhere near resembling Oxford Street on Christmas Eve, in itself it’s maybe a hint that there aren’t that many spare cargoes loitering around in the market, especially for delivery in January 2020.
It always seems difficult to apply the right adjective to a market, strong and weak cover all magnitudes, booming, roaring, explosive, rocketing, rising, surging are all to be found in your on-line thesaurus, but I’m not sure if they are on the button when it comes to what the market showed last week. Asia appears to be moving from reasonably firm to a lot stronger, I guess I’ll have to make do with those descriptive words for now. I used to get excited with sudden jumps in any market, especially if our position just happened to be on the right side of the jump.