Sharp falls across the dry cargo markets. Nov 4By james tweed • Nov 5th, 2011 • Category: Dry Cargo
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
This podcast is sponsored by Halcyon Recruitment – www.HalcyonRecruitment.com
Contact Halcyon to discuss your shore based maritime recruitment via email: firstname.lastname@example.org or call them on +44 (0) 20 7717 8686
Would your company be interested in sponsoring a podcast? Take a look at our 2011 Media Kit
Thank you for downloading the dry cargo market report from Coracle Online and The Baltic Exchange for November 4th 2011. If you’re interested in learning more about the dry cargo shipping markets, please look at the Dry Cargo Chartering course on CoracleOnline.com and use promo code PODCAST to save yourself 10%!
This podcast looks at the Capesize, Panamax, supra and handymax markets
Starting with the Capes and rates dropped sharply over the week with the West Australia/China rate now around $9.50. The collapse was swift, with rates dropping one dollar in less than a week and that was despite Rio Tinto actively taking ships. There was a tentative suggestion the market has found a floor, but it’s unlikely that a clear picture will emerge until early next week. A 1993-built 161,000-tonner secured $20,000 daily for a Newcastle round with the ship coming from Daliain. Since then however a 130,000-tonne coal cargo fixed from Newcastle to Fangcheng at just $14.20. The north Atlantic remained very tight for tonange, but little emerged on rates.
Atlantic panamax rates continued to drift lower for both transatlantic and fronthaul, with new business filtering in the market, but there wasn’t enough to support rates. The transatlantic rounds headed down towards the mid teens whilst fronthaul for ships open on the Continent was barely mid $20,000 daily range. US Gulf rates also eased. Committed tonnage in South America faced limited options as there was little transatlantic business. For trips to the east charterers continued to take ballasters from southeast Asia and the Indian Ocean at rates making more sense than taking Mediterranean or Continent vessels. Asia rates tumbled. Moving to the smaller ships and it has been a difficult week for the supras with rates in the East in particular falling sharply. In the Atlantic there was more of a stand-off, but even here tonnage ballasting from the Pacific and Indian Oceans were starting to have an impact. It was a relatively slow week for handysizes as the market was affected by holidays, together with a number of players in Hamburg for the annual culinary feast of Eisbein. Notwithstanding this, some decent numbers were seen – including a late 90’S built 27,000 tonner open in the Black Sea obtaining $13,150 daily for 3 to 5 months with redelivery Atlantic. An easier tendency was in evidence from South America. In the East there was a reasonable amount of activity, but rate levels tumbled alarmingly as owners scrambled for cover.
Thanks for listening