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Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC

COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini rally in the Capesize market started losing valuable steam, Intermodal Research team said their latest weekly report.

According to Intermodal, at the same time the rest of the size segments remained under pressure, showing no signs of a strong comeback in the short term either. This week has also kicked of on a negative note, with reported spot activity revealing further declines, while the period market remains on a down trend across the board as well.

The broker further said, rates for Capes kicked off last Monday on a positive note but as the week progressed, enquiry across both basins started softening, weighing down on sentiment across the market. This current week will be very crucial for Capes, as even stabilizing around current levels will be more than what the market can hope for now, while it will be interesting to see if the new dive of the iron ore price will further support Chinese import volumes.

Commenting on Panamax Intermodal Research noted that, the Panamax market witnessed a fairly stable market in the Atlantic, while things in the Pacific were also a tad better especially during the first half of the week. Activity ex-USG is still under pressure for Handy-Panamax range vessels as there is still no balance between supply and demand in the region, following the continuous arrival of ballasters looking for business during the past couple of months.

Elsewhere, things remained unchanged for the smaller size segments, which witnessed further minor positional corrections across both basins. Saying that, we have started witnessing a slightly more stabilized environment during the past couple of days, with numbers holding around last dones. Intermodal Research team concluded.



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