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Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
PanamaxCOALspot.com: The Dry Bulk market seems unable to catch a break these days.

According to Intermodal, following the market stabilization that proceeded last week, lack of fundamentals to push the market forward was once more evident across the board, while despite the fact that the days leading to the Eastern holidays boosted rates in some cases, it seems that the negative sentiment remains too strong to shake off. Period inquiry remained healthy last week, but in most cases charterer's ideas were at a discount compared to last done, with owners seeming ready to accept these new lower levels even for longer term contracts.

The Greece based broker commented on Cape that, this segment remains the weakest link in the market, while de- spite the slight increase in activity that was noted last week, this hardly changed sentiment, with owners in search of cover before the holidays accepting further discounted levels, while period ideas were also under pressure.

While commenting on Panamax, the broker said, despite the negative week on week closing, the Panamax market was quite busier towards the end of the week as charterers and owners sought to conclude business before the start of the Easter long weekend. Activity in East Coast South America also started to pick up once again, which eventually led to improved numbers, while period activity also remained healthy in volumes.

According to Intermodal, rates for the smaller size segments, aligned with the overall market sentiment, but have once more managed to hold much better off compared to the non-geared sizes, with a slight optimistic feeling persisting until Friday and despite the slow start to the week.


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