Shipping Podcasts finalists for Maritime Media award

Dry cargo shipping review. Cape rates generally easier…

By • Aug 31st, 2012 • Category: Dry Cargo

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

To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?

Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for August 31st 2012. This report looks at the Capesize and Panamax markets.

Are you thinking of starting a course with Coracle this autumn? If you use the promo code podcast from now until the end of September, you can save yourself 20% on all of our courses. Take a look at . We look forward to welcoming you aboard soon.

We start with the Capesize sector where over the week rates generally eased. In the Atlantic, Bolivar/Rotterdam has now been reported at $8.50 for mid September loading and the Tubarao/China route settled around the $17.50 mark, although there is a feeling of resistance on genuine front haul. In the East, West Australia to China was busy with some scheduling headaches caused by typhoons and as a result there was an encouraging start at the beginning of the week for spot tonnage. Rates however settled back to around the $7 level as the week drew to a close.

The Panamax sector makes for grim reading as the market grapples with meagre pickings both in the Atlantic and Pacific, as ships compete to get fixed at ever diminishing returns. A few new trans-Atlantic cargoes emerged during the week but they were quickly covered and more often than not on a voyage basis. A Japanese charterer covered a coal stem from the US Gulf to the Continent at $15 and 75,000 ore Ubu/Ghent was fixed at $13. On timecharter a 79,000-dwt ship, open in the Mediterranean, fixed from Gibraltar for a trip via Kamsar to Eire at $6,000 daily. Fronthaul activity was slow.

In the Pacific, Indonesia has given a measure of support to an ailing market. A five year old 74,000-dwt agreed $5,250 daily with a bonus of $70,000 for a trip from Indonesia to Malaysia and a Kamsarmax went for a trip from Indonesia to Japan at $6,000 daily and $117,000 ballast bonus. Sporadic period activity includes a Kamsarmax, open Southeast Asia, fixing 4 to 7 months at $8,100 daily, however there is tonnage willing to do less, with reports that a ‘good’ Panamax has agreed $7,700 daily for a similar period.    

Thanks for listening