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Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS


Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were all same as last week and Indo-India round done at APS USD 6000 + 70000 BB. RBCT round at USD 8000+ 300k bss APS. Short period activity was quiet and rates around USD 8500.

Panamax
With the Chinese celebrating New Year and the year of the snake - it was predicted that this week could be a slow one. This has not been the case and we see a growing list of fresh cargoes especially in the Atlantic. It has been paid firmer rates, but mostly for shorter duration business demanding a premium. We do however expect the rates to firm across the Atlantic basin throughout the week. In the Feast we see some NoPac business being done, but most owners are ballasting towards South Africa or ECSA in order to take part in the more active grain season which is approaching. We do see more period activity in the Far eastern hemisphere with major European players taking in shorter periods with rates ranging between USD 7500-8000 depending on delivery and specs.

Capesize
The Chinese New Year holiday is as expected resulting in inactive markets in the Far East, but also in the Atlantic. The index has remained basically flat throughout the week, and owners are patiently awaiting more cargoes to appear. The best of wishes for the year of the snake!
Source: Fearnleys AS



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