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Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
PanamaxCapesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positive fixing being seen out of W. Australia, says Allied shipping research in its latest report. The broker further noted that, the Pacific basin was the main region keeping up with the Positive support, however there was a vibe that the level of activity in the North Atlantic was improving, though little of this has materialized in just yet.

Panamax
Commenting on Panamax, the broker Allied shipping noted, there continued to be a struggle in the Atlantic basin with rates touching ever softer numbers with every consecutive fixture being reported. Things seemed to be holding slightly better in the Pacific basin, though here to there was a drop in rates for spot tonnage in the market. Overall it looks as though further drops may well be insight now, as limited fresh interest has been surfacing over the past couple of days.

Supramax
With the Atlantic taking a slow start things seemed to be heading south, but it wasn’t long before a rebound in interest started to emerge helping the overall rates edge up slightly compared to their previous week’s close, the broker says on Supramaxes. Things however look to be under further pressure now and we may well see some discounts emerge over the coming days, Allied shipping analysts said.

Handysize
Limited change this week in the Handy size market with both the North and South Atlantic seemingly holding on par with where they had left off a week earlier. Allied shipping concluded its analysis by noting that, the Pacific basin was showing a more eager face, though this may well have been a temporary trend, with a slight downward correction now expected to show face over the next few days.


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