Dry Cargo market chartering report podcast Nov 22By james tweed • Nov 24th, 2013 • Category: Dry Cargo
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
This podcast comes from Coracle – myCoracle.com
Thanks for downloading the dry cargo market report from Coracle Online and the Baltic Exchange for week ending Nov 22nd 2013. This report looks at the Capesize and Panamax markets.
Before the market news, we’d like to let you know about 3 competitions. Top prize in one of them is £1,000 cash! If you’re interested in finding our more, head to our Facebook page at Facebook.com/coracleonline and look for the Keep Calm and Enjoy the Competitions story.
We start the report with the Capesize sector and it was a busy end to the week for the big ships, with some of the large Australian shippers hoovering up vessels for cargoes from West Australia to China. Rates moved up sharply on Wednesday, hitting $10.30 before slipping to the upper $9 range as the week drew to a close. Trading has slowed but next week could be interesting, with BHP Billiton and Rio Tinto taking around a dozen ships between them, and other charterers in action.
A 180,000 tonner open Dangjin fixed for an east coast Australia/Liuheng run at $18,250 daily and there was talk that a 180,000 tonner Imabari went for a NoPac round at $17,000 daily.
Atlantic ships saw rates drop sharply, with operators reletting tonnage for trips from the Continent to the East at $24,000 daily, but this was with a duration of 75 days minimum and likely much longer. There were others allegedly fixing at similar numbers, though some involved split rates. Vale appeared in the market with cargo from Brazil and there was talk that the charterer fixed an end November-early December 160,000 tonne 10% cargo from Tubarao to Qingdao at $20.50.
Round voyage rates in the Atlantic did reach the low $20,000 daily range, but are now said to be under this level.
Now the Panamaxes and there was cautious optimism in the Atlantic as the week drew to a close, with increased activity for first half December from the US Gulf to China prompting a rise in rates. Charterers took tonnage both in the US Gulf and from the Continent for these cargoes, with talk of a 74,000 tonner going at a stronger $18,500 daily with an $850,000 bonus.
Rates were around $20,000 daily for very early ships, but there remained limited interest for transatlantic rounds for either long durations or short Baltic rounds. Rates for two laden legs fell, with a kamsarmax open Gibraltar fixing at $10,000 daily for two laden legs within the Atlantic.
In the East, Indonesia remained the lynchpin of the market, but this was mainly for short rounds, where rates have improved and remain around $11,500 daily for ships open Taiwan.
Period interest returned to the market in the middle of the week and rates improved, as a 16 year old 73,000 tonner booked for 11 to 13 months trading with delivery Fangcheng at $10,750 daily and a kamsarmax agreed $11,750 daily for four to seven months trading with delivery Vietnan.
Thanks for listening