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Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
PanamaxSupramax
A positive week again in the Pacific with rates moving upwards.

According to Fearnleys Weekly Dry bulk report, Nopac rounds are paying Supras around $9k dop, while trips from China to India is paying in the low $8k’s and SE Asia trips to India getting fixed at around $9k.

Fearnleys Weekly Dry bulk report says, Indo coal rounds are trading around mid/high $11k with Singapore delivery and nickel ore trip via the Philippines back to China is around mid/high $9k.

Firmer rates within the Atlantic market. Supras on front-haul from both the Black Sea and Cont/Baltic have been offered healthy rates in $16-17k range daily. USG has encountered weaker front-haul rates in these days, whereas ECSA has shown further signs of improvement.

Panamax
Commenting on Panamax, Fearnleys Weekly Dry bulk report, another active week with increasing rates in both hemispheres. The Atl market is again the region that keeps the momentum up, especially in the north Atl/Black Sea. Straight TA’s are being fixed at around $11k’s. However, Baltic and Murmansk rounds are paying more than this due to lack of tonnage in the area.

The BS market has been pushed up due to many grain cargoes with levels around $20k’s for FH from this area. We are still seeing a steady pace out of S. Am with ships being fixed both from the FE and the Atl at rates around $17k’s FH, whereas Singapore delivery pays around $11k’s. Fearnleys noted that the sentiment in Asia remains positive with a transpacific RV at around mid $9k’s and the short term outlook for the Pmax market remain positive all in all.

Capesize
Still challenging but with a positive undertone. Markedly increased Brazil front-haul iron ore activity has lifted not only the China-Brazil-China conference trade from $8k to almost $10k/day, but also influenced positively the Far East supply/demand balance - and consequently improved average spot earnings some 20 pct w-o-w to come in at a still moderate $8500/day, says Fearnleys.

As reported, summer doldrums still very evident, and the market remains generally over tonnaged. As FFA values still give little support for solid premiums to spot, period activity keeps being limited and with the focus on short duration - worthy of notion is the recent 181k dwt/built 2012 reportedly done at USD 14,500 basis 4-8 months with end July China delivery.


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