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Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH


Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronthaul business. The WC India market has softened with few fixtures and this will continue for a while before the monsoon ending. We are seeing some fresh Indo coal to China/India. For Indo-India trips Supra rate is hovering between 11k/12k bss passing Singapore and around 9k for short period. Supras freight rate from Red Sea/India is around mid teens.

Panamax
Following a slow and nervous week the negative trend continues. The gatherings at NorShipping in Oslo by many European and international players did not boost rates caused by their social efforts. Some fresh T/A rounds with a few Charterers looking for 2-3 laden legs covering at about 8k+. However, rates for single rounds prove to be far less on voyage terms. Fronthaul is fragile around 12.5k with equivl BB for ballasters. In the Eastern Hemisphere a floor seems to be established in the 4k-5k range, after a considerable downturn lately. Despite some more activity, Owners hesitate to take the low paying Indo or Aussie business, perhaps not surprising when with levels under opex. Could it be the market has hit the basement floor? The period market is temporarily at rest with the huge gap from the forward curve to the asking levels from a few Ownes willing to relet short up to a year.

Capesize
Rates have remained under pressure throughout the week both in the Pacific and in the Atlantic. In the Pacific, iron ore out of west Australia has been slow, partly due to maintenance on RTS loading facilities in Port Walcott. The East coast coal has been steady, with rates around USD 8,000 for a round. In the Atlantic it is difficult to find employment, and there is a good number of ships drifting, awaiting the market to pick up. Period activity is low.
Source: Fearnresearch



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