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Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL

The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform the rest of the market, which overall displayed a mixed picture, broker intermodal said in its latest report. Whether this past week marked the slowdown of the negative trend or whether this was just a slowdown before another round of losses might be too early to say.

According to broker, from the looks of it though, we can surely say that sentiment still appears very fragile, with notably soft activity and fresh rate losses being noted across all segments in the beginning of this current week as well.

The broker further said, rates for Capes continued softening throughout last week, on the back of uninspiring activity persisting across both basins, while further losses were noted in the period market as well, bring the 6 months T/C closer to the $15,000/day level. The rate for the W. Australia to China voyage moved to below $8/mt, while previous talks of higher figures on more forward October dates never materialized, while activity ex-Brazil also remained uninspiring.

According to Intermodal, rates for Panamaxes noted the only substantial increases last week, pushing the average TC for the segment to back above $7,000/day, while the period market also witnessed improvements from the last dones.

Activity in the USG was particularly supportive for Panamax tonnage, while things in the Pacific remained overall quiet.

Rates for Supras and Handies moved slightly down and slightly up respectively, while the absence of the Chinese from the market was only felt positionally by both segments, concluded Intermodal.



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