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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS


HANDY
The  BSI  moved  in  a  downward  direction  since  last  Friday  reflecting  minor activity,  a  55k  dwt  got  USD  39k  for  tct  Feast. 

Hmaxes  in  USG  seeing  mid 30´s  for  trips  to  Med/Cont  and  mid  30´s  achieved  by  tonnage  for  Brz-Arg/ FE.  Bsea/Cont to FEast remains firm for Supras/Hmaxes (mid/high 30´s).

Handies  are  running  at  USD  15/16k  pd  for  Atl  business  (trips  or  short period)  The  outlook  is  for  a  pursued  positive  markets  in  the  Atl.  The FEast market softened this week, but rates still firm.  Supras  Pac  rounds  and  Indo/ India  coal  trips  in  the  high  10´s.  NOPAC rounds large Supras trading in low 20´s.  Backhaul Supras:  low teens.  Period market quiet, not many fixtures reported. 

Short period owners´ ideas are around mid/low 20´s.  India:  China´s demand  for  Indian  iron  ore  is  still  the  leading  force  in  the  region.  WC  India/ China  iron  ore  trips  ows  asking  very  high  30´s  and  low  30´s  from  ECI  via WCI  to  China.


PANAMAX
The  Atlantic  market  experience  a  slow  week  as  January  tonnage  continued to  lengthen.  The  small  amount  of  new  business  also  kept  the  market  quite slow.  A  bit  more  interest  in  the  period  market  and  rates  here  see  about  USD 26,000-27,000  daily  for  11/13  months. 

Fronthaul  levels  at  around  low  USD 40,000  and  Atlantic  rv  at  low  30,000  daily.  Pacific  market:  With  more  spot tonnage  open,  and  lack  of  cargoes  gave  a  negative  trend  to  the  Pac  market. The  decline  in  activity  was  explained  by  charts  willing  to  wait  to  fix,  in hope  for  lower  levels.  Pac  rounds  fell  USD  3500  from  last  week,  down  to USD  25,500. 

Short  period  fixed  high  20k,  and  1-year  were  concluded  at  low 20k.  Backhauls kept around USD 17,000.


CAPESIZE
Last  week  the  market  experienced  a  slow  but  sustainable  growth  in  rates. Although  it  seemed  like  rates  would  be  rocketing  up  already  Monday morning,  the  index  remained  flat  for  a  couple  of  days  before  we  started  to see  the  improvement. 

On  this  basis,  there  was  expected  a  further  healthy improvement  for  this  week.  However  this  dir  not  turn  out  to  be  the  case. Time  being  rates  for  the  Australia  round  voyage  is  below  USD  12,  with chrtrs  being  relaxed  and  rating  in  the  11´s. 

For  fronthaul  there  have  been  a couple  of  vessels  who  failed  and  rates  are  approaching  USD  28.  There seems to be a lack of February fronthaul cargoes.  However,  there  is  still  a generally  steady  period  interest,  with  all  the  majors  waiting  to  get  the  right levels.  The  outlook  for  next  week  clearly  depends  on  the  biggest  charters, i.e.  BHP and Rio Tinto.
Source: FEARNRESEARCH



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