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Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
PanamaxCapesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many holding high hopes of a fairly positive trend to be noted over the next couple of months. Things were gaining in strength in the Atlantic, with a fair amount of enquiries coming out this week out of Brazil and limited tonnage available prompt to cover this big inflow, says Allied Shipbroking in its latest weekly report. The Pacific was also keeping its support fairly well, despite a slow start noted due to holidays in Singapore.

Panamax – Commenting on Panamax, Allied says, things were still fairly tough in the Atlantic basin with rates still remaining under pressure. However, with the Pacific seeing a good level of fresh inquiries for mid-September and an overspill of positive sentiment from the capes, the overall freight level was able to inch up slightly from its previous week’s close.

Supramax - A fairly slow start to the week, with week activity being seen in the US Gulf and Pacific dragging down rates once more, said Allied. Noting the trends being seen in the larger sizes however, there is a sense that we may well be in the midst of a change in fortunes especially in the Atlantic basin were a better inflow of inquiries is now expected. 

Handysize - A slight let down from the fairly swollen tonnage lists that had amassed a week prior. Inquiries were still playing a catch-up game, leaving charterers with the upper hand and pushing rates across the board to slowly lose some vital points.

The Pacific seems to be holding slightly better for the time being while there is still hope that we see better levels in the Continent soon Allied concluded.


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