The Coracle Online Dry Cargo podcast for week ending Feb 3, 2012 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
Capesize sector: A week of marking time, as Lunar New Year holidays and a cyclone disrupted shipments from West Australia combine to curb trade. High bunker costs continued to weigh heavily on the market. Hopes were then pinned on a full return to work stimulating demand and a resumption of shipments from Australia and Brazil, but rates drifted over the week with West Australia/China hovering around $7.75 and Tubarao/China agreed mid week at $19.10. The backhaul rate was in negative territory and although voyage business was done, it showed the owner a negative return.
The Atlantic market generally remained inactive, with demand from utilities and steel mills in western Europe negligible. Transatlantic rounds were barely holding around $5,000 daily and trips to the East paying no more than the high teens.
PANAMAXES: The market collapsed this week as Atlantic rates dropped sharply and owners struggled to find timecharter business on a DOP basis. Charterers were able to secure tonnage on a voyage basis at numbers showing very poor returns, with one cargo allegedly equating to zero basis Cape Passero for a US East Coast coal round. Most agreed that an owner would be fortunate to see $6,000 daily for a transatlantic round. Fronthaul business was limited and rates slipped…
Holidays severely reduced trading in the East. Tonnage was still plentiful and cargoes scarce. Round voyage rates were barely $5,000 to $6,000 daily and backhaul went into negative territory. Some owners continued to ballast towards the US Gulf and east coast South America. One 74,000-tonner fixed from Singapore for East Coast South America at $9,000 daily, but with redelivery southeast Asia. The collapse of the Atlantic market sidelined period traders and rates dropped sharply. Charterers were prepared to pay $9,000 to $10,000 daily for four to six months trading with few takers so far.
SUPRA/HANDYMAXES: This was a week when things went from bad to worse for the supras. A nice 56,000 dwt vessel in ballast from Morrisville was reported to have been booked APS North Coast South America for a trip to the Continent with grain at just $12,000 daily. In the US Gulf a 53,000 dwt Diamond type was reported to have been fixed for a trip to the Far East at about $18,000 daily, a significantly softer level.
Handysizes also came under pressure, although South America was at least showing more activity. A modern 28,000 tonner in ballast from West Africa fixed from the Plate to north Africa at $11,250 daily.
In the East, the Indonesian coal market provided some sort of support as reports emerged of a 57,000 dwt vessel, spot in Singapore, being booked for a trip from Indonesia with redelivery China -India range at just under $9,000 daily. Short period rates however took a hit as European interests fixed a 2004 built 52,400 unit delivery Lianyungang for 3/5 months at an easier $6,000 daily. Owners of handysizes had to graft hard to find employment: a number of holidays including the China New Year having an impact. There were reports that a newbuilding 35,000 dwt went for a year in the mid $8,000′s
The Coracle Online Dry Cargo podcast for week ending Jan 13, 2012 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
The Coracle Online Dry Cargo podcast for week ending Jan 13, 2012 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
This podcast from Coracle gives a review of the state of the Shipping Industry and Forward Looking Prospectives. Commentary has been provided by BIMCO.
The Coracle Online Dry Cargo podcast for week ending Jan 6, 2012 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
The Coracle Online Dry Cargo podcast for week ending Dec 16, 2011 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
The Coracle Online Dry Cargo podcast for week ending Dec 9, 2011 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
The Coracle Online Dry Cargo podcast for week ending Nov 25, 2011 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
The Coracle Online Dry Cargo podcast for week ending Nov 18, 2011 in association with The Baltic Exchange
To learn more about the dry cargo chartering market, why not take Coracle’s Dry Cargo Chartering course?
