Tuesday brought a pick-up in draw rates, thanks to robust movement at Rotterdam, but we're not holding out too much hope for them to be sustained.
Cancellations so far this week are running at very slow rates again—just 750t so far—and the ratio of cancelled tonnage has started heading south again. It was 5.3% yesterday, which is at the low end of its recent range, suggesting little sustained excitement on the "out" side of the equation.
Note, by the way, that Trieste saw the first movement yesterday from the 2,200t that have been cancelled here in the last few days.
There are only four other locations in the system which hold any really significant amount of cancelled tonnage—Helsingborg with 12,100t, Rotterdam with 10,375t, Singapore with 4,575t and Baltimore with 3,950t—so it/s not hard to see which are going to be the most active on the "out" side in the coming days.
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