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Dry cargo report podcast

By • Jan 15th, 2013 • Category: Dry Cargo

The Coracle Online Dry Cargo podcast for Jan 11, 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 11th 2013. This report looks at the Capesize and Panamax and Supra markets.

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We start with the Capes and cyclone worries in West Australia slowed the pace considerably on the key run to China, with the major shippers deciding to keep out of the market until the bad weather passes. Rates slipped over the week, dipping to just over $7 for cargoes from 24 January onwards from Dampier to Qingdao. However, a 177,000 tonner spot Qingdao did achieve a firmer $8,000 daily for an east coast Australia/Japan run.

From Brazil trading was limited and a lack of January business once again had a negative impact on the market, with ships still idle off Brazil and South Africa. Transatlantic business has also been limited, although a 177,000 tonner open Immingham went at $6,500 daily for a Colombian round.

For the Panamaxes this week saw a firmer market in the Atlantic with the pressure for January loaders and, primarily, for trips to the East, although this has had a positive impact on transatlantic business. Rates for US Gulf/Far East runs were allegedly close to $15,000 daily plus near $500,000 bonus while a 79,000 tonner went earlier in the week at $13,500 daily for Belfast via the US Gulf to the East. A 76,000 tonner fixed from the US Gulf to the Continent at $8,000 daily with a $350,000 bonus. Sources say charterers were bidding better numbers for spot-prompt ships for US Gulf/Continent. Early ships were tight on the Continent.

The grain houses also stepped up activity from east coast South America, with ships from the Indian Ocean and further east being fixed for this business.

There was some new business for east traders, but charterers were largely able to secure rates on an APS basis with nopac/Singapore-Japan concluded at around $6,000 daily plus bonuses at $300,000. A step up in period activity prompted some optimism, but there remained a very long list of ships in the market with more still to come. A fuel-economical 76,000 tonner agreed $8,000 daily for two years trading, with China delivery.

For the Supramaxes there was more optimism in the South Atlantic, where a two year old 56,000 tonner was reported to have secured $20,000 daily for a trip from Recalada to west coast South America. In addition, a similarly sized vessel went from Brazil to Lagos at $18,000 daily .

Thanks for listening