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Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH


Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feast was at USD 13k. The Pacific market remains firm since last week as lot of cargoes from Indonesia is seen. Indo-India now been reported at healthy levels at USD 12k dop South China. Nopac rounds fixed at 9k dop. WCIChina and ECI-China was little busy with some iron ore/bauxite cargoes and rates were USD 10k and 8k respectively. RBCT rounds fixed at USD 9k + 300k BB. Short period rate for large eco Supra was around USD 9.5-10k.

Panamax
There is a tendency of wait and see attitude before the expected arrival of the Easter bunny. Still, further propelled by South American grain, reports of healthy USD 18k have been done for trips out with delivery in the Atlantic and USD 11k for efficient tonnage delivery Far East. With a long list of ships waiting for ECSA grain loading and rumors of cancelled grain shipments bound for China, these levels could be the ceiling - for now. The Atlantic basin seems fine balanced with levels up to USD 10500 for rounds. In the Eastern Hemisphere sentiment is toppish and volumes thin, despite some strong fixtures well above the USD 10k mark. Owners are seeking higher levels for period primarily up to a year. Some deals reported up to mid USD 10k for good spec tonnage for short/medium period, but takers seems to gradually hold back without proper support from the forward curve.

Capesize
Spot rates continue to fall/remain flat as Brazil continues to be inactive in the market, contrasting the effect that the grain season in South America is having on the Panamax market. Fronthaul rates for Tubarao/China have remained stable at mid 17´s, partly due to tightness in the North Atlantic, making it difficult for charterers to find tonnage at under USD 20k per day for a trip from the Continent to the East. In the Pacific, there is no shortage of ships and at the time of writing West Australia/China rates have fallen back to USD 7.25. Whilst period numbers remain firmer, near dated paper contracts have lost value this week, seeing the front end of the paper curve converge to spot rates.
Source: Fearnresearch



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