The headline figure tip-toed down to its lowest level since January of this year yesterday thanks to a muted rate of arrival—just 250t at Singapore—and a series of modest draws. It’s still showing a net year-to-date increase of 33,775t, reflecting particularly heavy inflow in the first days of the year.
Gwangyang in South Korea was quiet again Tuesday after its burst of draw activity on Friday and Monday and draw rates elsewhere were less than breath-taking.
There's little in the cancelled tonnage figures to suggest very much change in draw rates in the next few days. Yesterday brought 1,450t of cancellations, extending the recent modest trend. They were just enough to keep the overall ratio of cancelled tonnage in the system steady at 5.5%, a rate that promises more of the same with a bias to slowing "out" side activity.
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