Capes quiet. Panamaxes more lively. Dry Cargo Shipping report June 8By james tweed • Jun 8th, 2012 • Category: Dry Cargo
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Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for June 8th 2012. This report looks at the Capesize and Panamax, Supra and Handymax markets and please remember, we love to get your feedback, so please leave your comments on ShippingPodcasts.com
We start with the Capesize sector in what has been a very quiet week in the Atlantic, with little business being reported. Trans Atlantic rounds were rumoured to have been covered around the $4,000 daily mark. The Tubarao/China Ore route slipped further this week with one vessel being reported fixed at $17.40 for second half June although this was subsequently reported to have failed. Front-haul also looks under pressure. The Pacific has continued to be led by the West Australia/China Ore with rates slipping further and last done being reported at $7. Looking at the Panamaxes and despite the week being rather disjointed due to various holidays around the world, the week draws to a close with the Atlantic looking more lively with a number of vessels having fixed or close to fixing. Short trips from the Baltic have given support to tonnage open north Continent. A 74,000 tonner open on the Continent fixed a Baltic round at $8,500 daily and a couple of 92,000 dwt Post Panamax types obtained $11,000 daily for similar runs, both were open in the Baltic. As the week draws to a close, rates in the Pacific have been described as more stable, but still at miserable levels. Tonnage open North Asia have conceded delivery APS Nopac. Further south and Indonesian coal has given a measure of support. A 73,000 dwt ship fixed from Nopac to the East at close to $6,000 with a bonus of $340,000 whilst a Kamsarmax type, in ballast, fixed from Indonesia to Taiwan at $5,000 daily with a bonus of $125,000. South America continues to attract tonnage in the Indian Ocean and the East, a 77,000 tonner open India obtained something in the high $9,000s for a trip via the Plate to China.
Supras remained pretty solid in the US Gulf this week with reports of a 5 year old 58,000 dwt ship open at the Panama Canal working a trip via the US Gulf to the East at a strong $26,000 daily. In the same area a Super type was trading 2 to 3 loaded legs in the Atlantic in the mid $18,000’s a day. Although handysizes in the Pacific have endured a weakening tendency, rates have not fallen to the same extent as Supras. Period levels have outperformed trip rates and whilst this is not an unusual feature, there is a suggestion that rates for Supras may well improve. A 1996 built 28,500 tonner, open prompt in Taiwan, secured $8,000 daily for 4/6 months.