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Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K


Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and from the USEC to Feast high 20´s has been achieved.  With holidays in India and chrts having cvrd their prompt cargos for November again leading to a quiet week for the coal rounds in the Pacific. Indo/China rounds are seeing bids at around USD 16k meaning softening rates while the iron ore from EC India are being rated at around USD 11k.  Period market is a bit slow but shorter periods are being concluded at reasonable levels.

Panamax
Despite some signs of a consolidation mid-week the negative trend from last week continues in both Hemispheres. Baltic rounds fixed at 16,500 and USG grain fronthaul at 53 pmt or 18k + 800k GBB APS. Some signs of increased activity in the Atlantic insufficient to meet the supply and rates hover around 14k generally. With some mixed opinions among the players a few chrtrs have fixed short period within the basin at around 15k+. In Far East volumes have been low in all regular trades with 11,500-12,000 as the prevailing level. However, it is worth to notice the very active Chinese coastal trade with levels up to 20k/day reducing supply. Hardly any movement in the period market as Q4 seems to loose its steam assisted by a gradually falling forward curve.

Capesize
Steady gains on the physical side coupled with paper volatility. The key West Australia/China route has gained close to USD 1.50 w-o-w. With all miners actively taking ships, time charter equivalent for Pacific routes now push north of USD 17k/day. Fronthaul and T/A rates have also rebounded following last week´s losses,  with the conference trade Tubarao/Qingdao up USD 2.50 pmt w-o-w and coming in at USD 22 pmt.  Daily average spot earnings stand at USD  20,500, up some 25% during the week.  The market does, however, remain nervous, and FFA developments do little to give a clear direction.  Consequent limited period activity, with assessed value of good 180k-tonners standing at some USD 17,500 for 12 months.
Source: Fearnresearch



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