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Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH


CHARTERING - DRY BULK


Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains buoyant as reflected by  the heftyrates still achieved to feast (close to 45000 us for supra ex bsea). The Continent remains also quite firm due to lack of ice class tonnage. A  37000 dwt ice classed claimed to have seen rates in the upper 20´s for most directions and high 30´s t  feast. Handymax vessels open in USG are seeing usd 40k for trips into the med /  Continent. The outlook is fo  a pursued firm markets in the Atlantic. The FEAST remains its softening tendency during  the last week. For Pacific Rounds Supras can achieve high 10´s and for Indo / India coal trips around low/mid 10´s. For backhaul trips Supras trading in 

The FEAST remains its softening tendency during the last week. For Pacific Rounds Supramax can achieve high 10´s and for Indo / India coal trips around low/mid 10´s- Fearnleys

the very low teens. The period market seems quiet, for short period Supras trading in the very low 20´s.India remains firm, for iron ore trips  frm WCI to  China Supras were fixed in the low/mid 30´s, vessels open in ECI trading in the mid/high 20´s

Panamax
The pmx market fell continuosly this week, with less cargoes entering the market. With a  negative amount of spot cargoes compared to number of spot  vsls, and the ice in the Baltic didn´t imporve the situation.TA`s fixed low USD 30k start of the week, fell to mid/high USD 20k end of  the week. Fronthaul  business  fell from USD 40k to mid USD 30k, even with tonnage fixing in the very low 30k! Same situation were seen  in  the  pacific,  with less  nopac  and  aussie  cargoes.  LME`s  fixed  arnd  USD  22-24k  end  of  the week,  vs  high  USD  20k  beginning  of  week  with  nopac  cargoes  being  the accelerator.  Backhauls  concluded  in  the  USD  15-17k  region.

1  yr concluded at USD  23500,  and  short period at USD 27,500.

Capesize
The  slide  continues in all areas as we approach Chinese New Yearcelebrations/holidays, despite major miners steadily picking ships for the W Aust/China conference route - down 30% over the week to level out in the very low usd 20k´s. Market appeares generally overtonnaged, andballasters  face a hard time being absorbed in the Brazil/China run  -  where rates have lost 20% in  terms of earnings per day, coming in at some usd 47k. 

Period interest is evident amongst leading operators, but present levels on offer are insufficient to attract candidates - with the exception of N/B 169,000  dwt sailing from Sungdong Yard accepting usd 34k basis 4-6 months to mitigate damages resulting from long-term performance failure by Chinese  charterers.
Source: Fearnresearch



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