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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
Intermodal“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of the fact that the increase was pretty much insignificant, but also because following a couple of weeks of healthier activity and numbers in the Atlantic, it now seems that the market has started to show signs of pulling back once again, with lower numbers offered across most key routes,” in its latest report, shipbroker Intermodal said on dry bulk market.

The broker further said that, we are still of the view that the geared sizes will continue to outperform the market at least for the short to medium term, as demand for such tonnage remains much healthier when compared to Panamax range and Capesize vessels, the average rate for which remains south of $5,000/day.

On the Cape front it noted that, following another modest week in terms of gains for Capes, the BCI managed to dragged itself above 450 points before the end of the month, which hinted that March is due to end on the red for the big bulkers, while despite the positive weekly closing, activity remains uninspiring across both basins.

On the Panamax market, according to Intermodal, activity continued to grow on the Panamax size for trips out and trans-Atlantic runs last week, with East Coast South America still sourcing most of the business and rates trending sideways or slightly up in some cases. Over in the East, fresh enquiry was lacking overall, with charterers ideas still fairly low.

Rates for the smaller size segments held steady towards the weekend, with small increases being noted positionally across both basins, while period ideas also remained stable, still offering a premium compared to similar Panamax charters, Intermodal said.


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