Supramax: The market is still going strong in the Pacific



Source: FEARNLEYS

Supramax

The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore runs via Philippines to China are paying Supras around mid US$ 11000 says Fearnleys in its latest weekly report.

Fearnleys further said, Aussie rounds are paying in the US$ 13000’s, while Spore trip to WCI/Pakistan range has been fixed around US$ 13000. Similarly to Far East market, the Atl performed well nearly all areas. More fhaul enquires from Black Sea, same were done around US$ 20000 daily. Inter-Med business were concluded around US$ 12000 levels. USG pet coke trips to Far East still paying around US$ 23-24000 daily. Cont stayed more stable, where backhaul to Brazil were fixed around US$7000. Both basins seeing continuous period interest for both short and longer period.

Panamax

Commenting on the Panamax, the Oslo based broker Fearnleys says, a mixed week with a lot of volatility and different activity level from day to day, but in general there has been a positive sentiment, especially during the last couple of days with increasing freight rates in both hemispheres. Period interest remained robust with strong numbers being reported. A 75000 was reported fixed for 9 to 12 months at a strong US$ 14,500 daily. On the spot biz in the Atlantic, TA and FH rates are respectively at levels around mid US$13000’s and US$19000’s, while Baltic rounds continue to pay a high premium due to the ice conditions and last done is US$22000 for a Baltic RV on an ice classed LME. The sentiment in Asia is strong and a transpacific RV is now priced at mid US$12000’s with steady enquiry from all areas.

Capesize

Disappointing week so far with dropping rates in all basins says analyst from Fearnleys. According to Fearnleys, both the north and south Atlantic market have been struggled with very limited activity. Quite a bit of owners taken their vessel towards Brazil expecting a stronger market for end of March and beginning of April, but the rates have dropped and the number of cargoes are scarce.

South Africa market have basically been non-existing, which also put press on owners who decided to ballast. Freight rates on Brazil/China now down to mid US$ 15 pmt level. Pacific is still active, but enough tonnage around, and with an Atlantic market which is not attractive, the owners willing to discount for short west Aussie RV, which now down close to US$ 6 pmt mark.

Source: FEARNLEYS