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Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
Intermodal logoCOALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smaller size segments continued to outperform the rest of the market.

Intermodal broker reported in their weekly report that, despite the admittedly better market the latter have been witnessing in the past weeks and even if Panamaxes have also been seeing more steady numbers all around, the fact that Capesizes have been unable to catch a break so far, is causing further worries across the market. The BDI has slipped 27% since the beginning of the year and as long as Capes remain under pressure it will be very hard to even get close to the 1,000 psychological level of the Index.

The broker further said that, the average rate for Capes moved to below $ 4,000/day last week, with fresh enquiry being limited across both basins, while as the segment is still operating well below OPEX, we expect negative sentiment to largely continue dictate both the paper and physical market. At the moment, it seems that even the most optimistic market participants out there have written off entirely the first half of the year in terms of a substantial market recovery taking place within this period.

“ Atlantic Panamax activity continued to be centered on cargoes from East Coast South America, with rates holding onto recent gains as the week finished”, broker commented on Panamax segment. At the same time, activity in the Pacific saw a quiet close to the week, with little change to rates and limited new business, while this current week has kicked off on a slightly improved tone.

The Handy/Handymax/Supra market continued improving last week, with Atlantic enquiry providing most of the support, while the Pacific market also started to pick up mid-week onwards, the broker said on smaller segments.


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Wednesday, 11 March 15
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