Dry cargo podcast Jun 15 (and a chance to win a Tablet!)By james tweed • Jun 15th, 2013 • Category: Dry Cargo
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This podcast comes from Coracle – myCoracle.com
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Don’t forget to check out the new, and free, resource from shipbrokers Simpson Spence & Young (SSY) . SSY are the world’s largest independent shipbroking group. Much of their work involves arranging derivative contracts for steelmakers, mining companies, carmakers and other manufacturers, to fix the price of their raw materials and shipping well into the future. They are offering free courses on FFA’s, Iron Ore and Steel derivatives via ssy.mycoracle.com.
Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for June 15th 2013. This report looks at the Capesize and Panamax markets.
Before we start we want to remind you to enter a competition. You could win yourself a new tablet! All you need to do is record a very short video, nothing fancy, about your job. The aim is to inspire the next generation to the industry. Submit your entry before June 16th at www.seavision.org.uk/mymaritimeworld
Starting with the Capesizes and the big ships were busy this week, with rates generally improving, despite the Chinese holidays. Rio Tinto re-entered the market and its push for tonnage added to the increased activity, with rates rising to $7.80 for later June positions. There was also talk that a charterer fixed at $8 for 20 June loading from West Australia to China. Timecharter rates saw a sharp rise as a 171,000 tonner with very good ecos fixed from Shanghai for an east coast Australian round at around $10,000 daily. There was also increased activity from Brazil, where rates firmed from Tubarao to Qingdao with second half July 160,000 tonne 10% cargoes fixed at around $17.70. There was an unconfirmed report that $18.25 had been fixed. The North Atlantic has been very slow in the past few weeks, but rates moved as ships were gradually absorbed and supply became tighter. Over the week, rates for transatlantic rounds rose from $5,000 to $7,000 daily, but it remains uncertain whether this will be sustained.
Moving to look at the panamaxes and sentiment was certainly more positive this week as rates lifted off the lows. The market was positional and the Atlantic still short of a significant volume of transatlantic business with limited volume cargoes from either the US Gulf or the US east coast, and rates hardly nudging $8,000 daily for the longer rounds. There was some interest in two laden legs, with a 73,000 tonner securing $9,000 daily for Gibraltar delivery and Gibraltar-Skaw redelivery. The US Gulf has seen committed tonnage build, though a hot supramax market has seen some charterers look to take panamaxes if the opportunity arises. Fronthaul business has been confined to the South American market, though there was talk of firmer rates today as owners with ships this side were reluctant to commit east. A kamsarmax with very good ecos open Ghent spot fixed for a trip via the US Gulf to the East at $14,500 daily, in comparison with the start of the week when a 73,600 tonner fixed from Stade via the US Gulf to the East at $11,500 daily. Rates from east coast South America are currently holding around $14,000 or the low $14,000 daily range for trips to the East.
Thanks for listening