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Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS


Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The pacific mkt got firmed up and more Indonesian cargoes were seen. Indo-India now been reported at healthy levels at USD 12k passing Singapore. WCI-China and ECI-China was quiet and rates were USD 7k and 6k respectively. RBCT rounds fixed at USD 9k + 300k BB. Short period rate for large eco supra was around USD 9000.

Panamax
The Panamax market continued its positive trend from last week with firming rates in both hemispheres. The main driver is the ECSA grain season which attract most owners willing trip east. Good rates are being achieved and a Fhaul with Cont delivery is being fixed in region of USD 17-18k depending on specs. More coal cargoes from USEC are being quoted in the market and TArv´s are being paid in region of USD 9k or closer to 10k for the shorter runs not involving breach of INL. In the Pacific we are also facing a rate increase with more cargoes in the market in addition to the competing grain market attracting ows. We see Pac rounds now being fixed at around USD 10k. The period market has also seen an increase in activity with both shorter and longer period being concluded.

Capesize
This week saw the Cape market continue to gradually slide, with the continuing strike in Columbia, and low volumes out of Brazil keeping tone mile demand and therefore rates depressed. However, at the time of writing, bid/offer for Tubarao/China is at a slightly healthier 17.50/17.75. West Australia resumed operations after the cyclone, and the prevailing rate this week has been around USD 7.20. This week saw a significant period deal concluded, with a ship with good ´eco´ consumptions fixed for 21-27 months at a firmer USD 13500 per day, arguably setting a benchmark for the market which will be interesting follow in the coming months.
Source: FEARNLEYS AS



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