📊 Dry FFA Analysis | 1 October 2026
🔀 Capesize decouples. The rest of the complex slips.
An unusual split across dry bulk today:
🚢 Capesize C5TC ↑: the only Baltic TC average higher
🚢 Panamax, Supramax & Handysize TC averages ↓ (-0.24% / -0.15% / -0.35%)
📉 Nov, Dec, Q4 & Q1'27 FFAs ↓ across every segment, hardest in Panamax and Supramax
🔥 Capesize led the divergence:
🚢 Spot: $45,435/day | +1.66%
📉 Nov FFA: $44,853/day | -0.36%
🔄 Cape spot flipped to a $582/day premium over Nov paper, from a $323/day discount yesterday.
📉 Nov FFA moves:
🔹 Capesize -0.36%
🔹 Panamax -1.57%
🔹 Supramax -2.10%
🔹 Handysize -0.93%
💰 Spot vs Nov paper: Supramax also flipped to a $379/day spot premium, from a $66/day discount. Panamax and Handysize discounts narrowed to $550/day and $563/day.
📉 Curve : Q4 premium over Q1'27 eased in Panamax (24.5% → 24.2%), Supramax (25.3% → 24.3%) and Handysize (31.1% → 30.8%). Capesize unchanged at 32.5%.
🎯 Market takeaway:
Capesize spot firmed against softer paper, while the smaller segments saw paper fall faster than spot, flipping or narrowing front-month spreads and easing the winter curve.
#DryBulk #FFA #Shipping #Freight #Maritime #saigalseatrade
Genuinely big day for India's private space sector. SpaceX's Transporter 18 is carrying two Indian satellites and an Indian hosted payload into orbit, all authorised by IN-SPACe.
Among them, @satleolabs TAPAS-1, India's first commercial thermal imaging payload built by a private company. Thermal sensing picks up what ordinary optical cameras cannot, from crop stress to forest fires to urban heat. A new layer of Earth intelligence, now opened up by Indian industry.
Alongside it, @tm2space's MOI-1A brings AI computing to orbit, running models on the satellite itself, and @DhruvaSpace's LEAP-2 flies four payloads, demonstrating its platform for hosting others in space.
Orbital computing, thermal intelligence, and a homegrown hosting platform, all on a single flight. This is the range and ambition of India's private space ecosystem today.
Congratulations to all three teams. Wishing you a clean deployment and a long innings in orbit. @isro@INSPACeIND@PMOIndia
You are human beings, I'm a human being; you want a happy life, and I want a happy life. But I think that aim will not be fulfilled only on the basis of material values; what we all want is affection and what we all need is to be more warm-hearted.
Once your relationships are about sharing your Joy, rather than extracting Joy out of someone else, you will have wonderful relationships with anyone. #SadhguruQuotes
3/ They ask more questions than they answer — confidence doesn't need to perform.
4/ No logos, all quality — they don't need the brand to prove the value.
Today, 40 years ago, I was at Margherita Tea Garden in Assam.
I had no plan. No idea where life would take me. I just wanted to marry the girl I loved and earn a living so I don’t depend on my mother. Nothing else really mattered.
And somehow, through the good and the bad, things did work out okay.
I have no advice for anyone. Even after 40 years, I still don’t know how life works.
All I know is someone out there has a plan for each one of us, it will happen someday, as long as we don’t stop trying.
Just don’t give up.