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Not the most eventful week for the big Capesize ships :-(

By • Mar 18th, 2013 • Category: Dry Cargo

The Coracle Online Dry Cargo podcast for Mar 15, 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 March 15th 2013. This report looks at the Capesize and Panamax and Supramax markets.

We start this podcast with the Capesizes in what was a largely uneventful week for the big ships. In the East there was a brief flurry of activity earlier in the week that saw one of the major shippers pay $8 for a prompt 170,000 tonne 10% ore cargo from Port Hedland to Qingdao and a few at lower rates for more forward positions. As the week closed the rate dropped to around $7.35 for 31 March shipment. Timecharter activity was largely kept under wraps, although a 175,000 tonner open Kaohsiung fixed to Winning for Indonesia/China bauxite run at $7,000 daily. The Tubarao/China run remained slow with the rate largely hovering around the mid $17’s. The North Atlantic saw more activity as the miners’ strike in Colombia came to an end. There was an increase in enquiry, but rates remained at low levels with transatlantic rounds around little more than $5,000 daily. Fronthaul activity was limited, but there was talk of rates around $20,000 daily.

For the Panamaxes this week saw a stronger market, with rates holding in most areas. South American grain shipments continued to underpin rates and, as levels rose, charterers looked at Atlantic ships as well as those coming from the East. A 77,000 tonner open Rotterdam prompt reportedly secured a rate in the mid to high $17,000’s daily for a trip via east coast South America to the East. Tonnage has been tight on the Continent and rates firmed particularly for short rounds with talk of a 73,000 tonner seeing in excess of $11,000 daily for a Murmansk round. However, for the longer rounds rates generally remained steady rather than climbing rapidly, with charterers still able to secure ships in the US Gulf and from the US east coast to move mineral cargoes on voyage basis at relatively low numbers.

Rates remained firm in the East particularly for ships in South East Asia with short Indonesian rounds fixed at rates ranging from $11,500 to $14,500 daily. NoPac grain appeared to be in evidence with a kamsarmax booked from Japan at $10,500 daily for NoPac/China. However, ships coming open in North China faced more of a challenge. Charterers continued to book tonnage for short period with even 70,000 tonners seeing $9,500 daily for three to six month periods.

The Supramax market continued to push in the Atlantic as reports surfaced of a big 61,000 dwt vessel being fixed for a trip from Texas Gulf with pet-coke to Turkey at a strong $23,000 daily. 

The South Atlantic market was also firm with unconfirmed reports of a Tess 52 type open in West Africa being booked for a trip from east coast South America to the East at a rate in the high $14,000s daily.

The market in the East was also firm, especially in South East Asia.
Thanks for listening