The “usual” inflow into Singapore was yesterday boosted by a tranche of warranting activity at Batlimore, which brought the incipient downtrend to a halt.
The “downtrend” barely merits the name since the headline figure is still only 11,500t off its recent May peak and that despite the bulk cancellation of all 17,725t at Trieste, which is now starting to be drawn down at an accelerated pace.
After Friday’s brief spurt, fresh cancellation activity fell back a gear Monday and the ratio of cancelled tonnage slipped a little further to 3.95%.
The two big concentrations in the system are Trieste and Singapore and these will therefore determine overall draw rates in the next few days.
At Trieste a total 3,650t have now been drawn down, leaving 14,075t still in the cancelled category. Singapore has seen very steady cancellation activity in recent days and now holds 7,550t in this category, although over the last couple of weeks daily draws have been outpaced by daily arrivals.
The next largest concentration of cancelled tonnage is the 3,650t at Detroit (after Friday’s 2,475t of cancellations).
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