Singapore reopened yesterday so the 12 month swap traded, losing 19 cents to $58.80. All other markets are still closed.
In news, the thesis that the commodity super-cycle has s self-reinforcing dynamic at work sees more evidence with another dry-bulk shipper pushed into bankruptcy by low rates, from Reuters:
South Korea’s Daebo International Shipping Co Ltd filed a court receivership, a form of corporate bankruptcy, on Feb. 11, mainly due to poor dry bulk market conditions, a company official said on Monday. It is the third known bulk shipper bankruptcy this month.
