It was a slow week for the Capes and other Dry Cargo Market news..By james tweed • Feb 4th, 2013 • Category: Dry Cargo
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Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for Feb 1st 2013. This report looks at the Capesize and Panamax and Supra markets.
It was a slow week for the Capes as the major Australian shippers kept a low key. Spot rates from West Australia to China hovered around $7 as the week drew to a close. Timecharter trading was sluggish, though owners were resisting charterers’ attempts to drive the market lower. A 179,000-tonner achieved $10,000 daily for a West Australia round voyage, but there were suggestions that the market is considerably lower.
Shipments from Brazil have been limited although there was talk that a second half February cargo was done at $18 from Tubarao to Qingdao. Transatlantic business perked up this week with more cargoes in the market. A 180,000-tonner fixed at $10,000 daily for a round and a 169,000-tonner open Rotterdam achieved $9,750.
For the Panamaxes it was a flat, weak market in most areas. Atlantic transatlantic rates eased over the week with voyage rates equating to barely $5,000 daily. A kamsarmax open in Bremen was rumoured booked for a Murmansk round at just $5,000 daily as the week closed. US Gulf cargoes to the East have also been limited, with rates dropping to the low $13,000’s daily plus low $300,000 bonus. South America has been sluggish with rates around $14,000 daily plus $400,000 bonus for cargoes to the East, with ballasters still servicing this area.
In the East, cargoes from NoPac and Australia were limited, though Indonesia has been more active. With South American rates easing, some owners will possibly rethink ballasting and Indonesia cargoes at least give them a short duration alternative until South America trading perks up.
Rates for quick Indonesian trips to China were hovering around $5,000 daily plus $70,000 bonus, while NoPac cargoes peaked at $6,000 daily plus $300,000 bonus.
For the Supramax and Handysize sector the US Gulf market remained relatively healthy as rumours circulated that a 2010 built 57,000 dwt vessel had been paid about $16,500 daily for a trip to the East Med. There were also rumours that a supra had been booked at about $19,000 daily for a front-haul trip, also from the US Gulf.
Handysizes were having a hard time in the Mediterranean and Black Sea. One ship fixed a trip from the Black Sea to the Eastern Med at around $4,000 daily.
On the other side of the Atlantic, handysizes generally remain tight in the US Gulf for first half February.
The market remained very difficult for owners in the East, as even the usual staple fare of South East Asia mineral business was insufficient to underpin the market. A Tess 52 was reportedly taken for a trip from Indonesia to China at a low $7,000 daily plus a ballast bonus of $60,000.
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