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A steady week in the Dry Cargo Shipping markets… Report Mar 31

By • Apr 1st, 2012 • Category: Dry Cargo

The Coracle Online Dry Cargo podcast for week ending March 31, 2012 in association with The Baltic Exchange

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Thank you for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for March 31st 2012. This report looks at the Capesize and Panamax, Supra and Handymax markets.

We start with the Capesize sector where we have seen some very slight resilience this week resulting in a small increase in rates. The North Atlantic has seen some tightening in the trips to the East, improving by about $2,000 dollars a day and the Tubarao/China iron ore route was up to around $20 per tonne. West Australia to China iron ore rates improved around 30 cents to close at $7.70 on the back of increased activity. However, there are holidays looming in China next week which could explain the higher level of enquiry this week.

Looking at the Panamaxes and although levels in the Atlantic and Pacific are not dissimilar for round voyages, there is a decidedly steadier feel in the Atlantic basin. South America continues to play a significant role with ships in Asia still looking in this direction as support. Nopac activity has been slow, although a late 90’s built 72,000 tonner, open Japan early April, fixed a trip via Nopac to the Persian Gulf at $9,500 daily. In the north Atlantic, activity includes short trips via the Baltic, with reports of Kamsarmax types open on the Continent fixing at around $8,000 to 8,500 a day for runs via Ventspils

It was a fairly flat week for the Supras as the steam seemed to have gone out of the market. In the Atlantic a nice 2009 built 59,000 dwt Japanese controlled vessel was booked for a trip from the US Gulf to Turkey with pet coke at an easier $16,000 daily. In the south Atlantic a 2006 built 56,000 tonner, open in Vila do Conde was fixed for a trip to Norway at $19,000 daily plus a ballast bonus of $50,000. In the east, although there was a reasonable amount of reported activity, especially from south-east Asia, the recent strong run seems to have abated.