Dry cargo market report and an offer of free courses with @ssyonlineBy james tweed • Apr 5th, 2013 • Category: Dry Cargo
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Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for April 5th 2013. This report looks at the Capesize and Panamax and Supramax markets.
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Starting the market report with the Capesize sector and the East saw rates firm marginally on the key West Australia/China run as the week closed with the majors expected to be more active next week. The rate crept back to $7.10 with BHP Billiton reportedly fixing at this level for 170,000 tonnes from Port Hedland to Qingdao for 20 April onwards having largely spent the week at $6.90. Timecharter rates were relatively better with a 161,000 tonner open Taichung 10 April fixing for a Newcastle/China run at $7,250 daily.
Trading from Brazil to China was once again piecemeal although a couple of cargoes were done from Tubarao to Qingdao for a prompt and later April position at $17.25. Further north, transatlantic voyage rates dipped with Cargill fixing a Louis Dreyfus relet from Bolivar to Rotterdam at $8.35. Timecharter trading was negligible but sources said that, for now, owners were reluctant to consider fixing below $4,000 daily for the round voyage.
Turning to Panamaxes and in the Atlantic owners appeared to be chasing cargoes as rates continued to drift. Holidays impacted on trading and although there was increased business, this was quickly covered, and largely on a voyage basis. Ships in ballast towards South America faced a gap in the market for April cargoes as some grain charterers used in-house tonnage to cover positions. Similarly, ships coming from the East agreed lower rates with numbers slipping to the mid/high $15,000 daily range and in some instances ballast bonuses dipping below $600,000. However the Chinese have been holidaying this week and there is hope that next week could see increased demand, particularly for Argentinian grain.
Holidays resulted in a slowdown in the East and rates slipped although ships open in Japan still managed $10,000 daily for NoPac rounds. The holiday-affected week led to the Supramax market taking a breather and rate levels were influenced accordingly. In the US Gulf, there were reports of a ‘Tess 52’ type being fixed for a trip to the Continent in the mid $18,000s. Handysize activity included a modern 32,000 tonner, open Brazil early April, fixing a trip via the Plate to the Continent at $11,500 daily and a 37,000 tonner in the same area fixed a trip with pig iron to the Continent at $13,000 daily. The eastern markets also had a softer tone.
Thanks for listening