More coal inquiries from South Africa to India; Supras fixed CA $12K + BB

Source: FEARNLEYS

Supramax

Better rates in Atlantic, but not too busy market just yet.

Black Sea catches improving rates for grain cargoes, where supras to Egypt got about 12k, fthauls done at ca 19k daily says Fearnleys research team.

According to Fearnleys’s latest weekly report published yesterday, more coal inquires from S Africa to India, supras fixed ca $12000 + bb .USG have kept steady pace, petcoke cargoes done around $19000 to Med, and $24000 to Far East. In the Pacific, the market is very strong and active with usual Indo/China coal runs paying ultras around $15000, while Nopac rv’s are paying low $12000.

The report further noted that, the period market has been active as well, seeing Ultras has fixed in the mid-high $13000 for 1 year and mid $14000 for s. period and Supras have been able to get around USD low 12000 for 1 year and high $12000 for short period bss del Feast.

Panamax

Commenting on Panamax sector, Fearnleys says, it has been a new week with firm rates and a positive sentiment in both hemispheres, however midweek it seems that the market has taken a breather which has led to more mixed feelings about the direction of the market going forward and those charterers that can wait to fix tend to do that.

TA and FH rates are respectively at levels around mid $13k’s and $19k’s, while Baltic rounds paying a high premium due to the ice conditions. The sentiment in Asia appears to remain and a transpacific RV is now priced at mid $11k’s with good activity been reported after the Chinese New Year. Generally, the short-term outlook remains stable. FFA’s, Mar is trading mid $12000’s, while April is now priced at high $13000’s on the P4TC index, says Fearnleys.

Capesize

The Oslo based broker said, Cape rates have been under pressure all week, with the Australia to China c5 coming off from $6.80 pmt earlier in the week to present low $6’s.

According to Fearnleys research team, The Brazilian Iron ore is presently around $16 pmt and there are generally few requirements in the Atlantic, despite good level of freight inquiries. The current trend in the spot market is not surprising after a relatively strong last week, and we are expecting rates to pick up as we are approaching Easter. Period interest is still solid, with last done for a modern 180,000 dwt reported at $23,000 for one year.

Source: FEARNLEYS