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Dry cargo report podcast for week ending July 19 2013

By • Jul 23rd, 2013 • Category: Dry Cargo

The Coracle Dry Cargo podcast for July 19, 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 week ending July 19th 2013. This report looks at the Capesize and Panamax markets.

Starting with the Capesizes and the week saw a gentle drift down in rates for the big ships as the major West Australian shippers were less active. Rates hovered around $7.75, with $7.80 rumoured to have been done whilst Owners were hoping for $8 on the key West Australia/China run. A 180,000 tonner prompt in Qingdao fixed a West Australian round voyage at $13,500 daily. Rates for ore shipments from South Africa remained steady, with levels in the low $14’s for August positions, although a spot cargo was fixed at $15.40 for a 160,000 tonne 10% cargo from Saldanha to Qingdao.

In the Atlantic, Vale was active at the tail end of last week and the start of this week, taking at least 8 ships for Tubarao/Qingdao cargoes at rates ranging from the low $20’s to just under $19.

Further north there was some fronthaul business. Noble covered an end July-early August 160,000 tonne 10% cargo from Narvik to Qingdao at $22.90 – a rate that some claim equates to an eco ship from Skaw on timecharter at $27,000 daily. Transatlantic rates appeared to be trading between $14,000 and $16,000 daily, with the latter rate paid to a very eco vessel basis Gibraltar for a transatlantic round.

Looking at the Panamaxes and Atlantic rates remained solid with the emphasis on the tightness of early tonnage. Short runs within northern Europe commanded strong numbers, with $17,000 daily paid for a Baltic round. Two laden leg trips for early ships in the Mediterranean reached $13,000 daily, paid to a 75,000 tonner open Malta.

Fronthaul from the US Gulf also saw good numbers, with a 15 year old 71,000 tonner fixed from the US Gulf to the East at $16,000 daily with a $600,000 bonus. The ship sailed Rizhao 7 July and some suggested this equated to $8,500 daily retroactive – a higher level than NoPac or Australian rounds and short period rates.

In the East, the focus has largely been on Indonesia cargoes, with tonnage still tight in South East Asia. Australia coal shipments slowed and there was limited activity from NoPac.

Thanks for listening