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Here’s your first Dry Cargo market review podcast for 2013…

By • Jan 4th, 2013 • Category: Dry Cargo

The Coracle Online Dry Cargo podcast for Jan 4, 2013 in association with The Baltic Exchange

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Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for Jan 4th 2013. This report looks at the Capesize and Panamax and Supra markets.

Firstly, Happy New Year to all our listeners. At the time of recording this episode we’re about to reach 7.8 million downloads from ShippingPodcasts.com. We’d like to say thank you. We’d also like to invite you to get in touch and give us your feedback and requests for 2013, so please do email us info@coracleonline.com.

Starting with the Capesize sector and it has been a slow return to work after the holidays. A long list of ships is keeping rates largely in the doldrums, although the major Australian shippers have been relatively active. BHP Billiton took around 5 ships in the second half of the week, with rates hovering around $7 for 15 January onwards.

The market for panamaxes has yet to shake off the effects of the long holiday as a plentiful supply of tonnage remains evident. In the Atlantic, trading was very positional with some charterers were conceding a touch more for ships loading early cargoes in the US Gulf for trips to the East. Rates fluctuated around $14,000 daily and $400,000 bonus. Transatlantic rates were weaker with some voyage rates reported from the US Gulf to the Continent equating to significantly under $4,000 daily. Rates dropped to very low levels in the East with owners preferring to idle ships rather than take the rates on offer. As the week closed, there were tentative reports of marginally better numbers. Charterers remained open to take period tonnage but, with the spot market in the East so weak, most owners were holding off at numbers that would translate into a large upfront loss.

For the smaller ships the week was generally slow, though the US Gulf and South America have strengthened for handysizes while remaining tight for supramaxes. Conditions in the Pacific were slow, with little activity and owners weren’t rushing to fix.

Thanks for listening