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Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL

COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the rest of the market, while sentiment remains extremely soft, Intermodal weekly report indicated.

Intermodal further noted in its report that, despite the fact that the past couple of days we are witnessing a reversal of the negative trend, this is most probably a correction long due rather than the signaling of the turning point the market has been longing for during the past two months. The further discounts noted in the period market reveal at the same time the shaken trust of owners that the market could be soon offering substantially improved levels, rushing therefore to find cover for the first quarter of the year by the end of which they hope things will have finally improved.|

According to Intermodal, rates for Capes continue to underperform the rest of the market, while the segment noted another weekly decline on the back of slow activity persisting in both basins. The BCI fell to 311 points on Friday, which is a new record low and despite the fact that market talk of improved numbers in Atlantic has been surfacing since yesterday, we have yet to see solid proof of that.

The broker commenting on Panamax said that, the Panamax market was also under pressure last week, which started slow on Monday and offered very limited fresh business throughout. Despite the fact that enquiry was stronger in the Pacific, the long list of ballasters there denied any rate upside from materializing.

Rates for both Supras and Handies were also down last week, with Supras noting the biggest decline across the board, on the back of lack of substantial fresh business in the USG and Black Sea , while period numbers here managed to hold on around last dones, Intermodal said in its latest report.



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