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Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see a steady flow of Brazilian cargoes which most likely will tie up tonnage which could lead to more pressure on the rates ex USG and Cont. Rates are still very low with USG/Cont being fixed in region of US$ 9-9,500 for Supra max. But the increasing amount of cargoes for end June/early July dates are maybe a glimpse of a returning positive view.
In the Feast the market is still very weak with a growing list of available tonnage. Rates are under pressure with Spore positions able to achieve around US$ 8k for trips to India while the South Africa cargoes getting fixed at around US$ 10k+Usd 200k GBB. Several owners are now in the market to cover their positions under shorter period deals and asking around 12k for same. Still a big gap between owners and charters as little being concluded so far.
Panamax
With holidays early week the Panamax market is suffering and in a steady decline in both hemispheres. Over the last month the Atlantic market gained over 50 % for a short peak followed by a steep downturn to even lower levels. If possible, Owners are holding back from fixing freight levels offered on voyage, alternatively take the 8.000 + 80 APS USEC to Med or about 3.000 average on T/C. Trading is limited. Fronthaul is also weakening despite Owners resistance to go East, with mid-week levels under 35 pmt on voyage, or around 12.500 + 250 GBB bss APS on T/C.
Low activity level in the Far East also with APS rates applying only. Typically 6 + 80 GBB Indo/India or 6.000 average on T/C for Aussie rounds. The forward curve is all flat, indicating the Panamax market will be 11.000 + for the next 5-6 years. Period takers are few with Owners offering 1 year close to the 10.000 mark.
Capesize
A positive week for the big ships seeing overall market improvements of 15% w-o-w. Much appear due to increased Atlantic volumes and a major miner taking several ships for front hauls. The conference trade West Australia/China has been stable and firming, with rates now coming in between US$ 8.15 and US$ 8.45 pmt, corresponding levels for pacific rounds up 10% and now standing at US$ 13,500. Whilst coal trades remain Depressed, recent physical iron ore developments defy worries of record-high inventories and falling Chinese rebar demand.
Period focus has been on the short term, where recent fixtures include 180000 dwt/built 2004 done basis delivery S. China prompt for 6-10 months at US$ 23k - as FFA values are poor for q1-q2/2015, same levels also apply for 2 x 179000 dwt/built 2009 done basis prompt delivery China for 14-19 months.
Source: FEARNLEYS AS
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Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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