2007

Owners have enjoyed their Christmas and Thanksgiving in the same week – with rates doubling in the course of 7 days. The FFA market responded accordingly, pushing the TD3 December contract up to WS140 earlier this week. This morning’s Enbridge pipeline fire refilled the punch bowl, ensuring the party would remain in full swing for a few days more. The other FFA routes are up as well, although they have retreated from their weekly highs, implying some doubt as to how high the market can climb. The run up has been enjoyed on the equities as well, with FRO, OSG and NAT climbing back above the Mendoza line.

This is only an excerpt of Back to the Futures – 11/28/2007

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