Chartering - Handy
The Atlantic market has been pretty stable and balanced this week. Mid week we see some signs of rates sliding but not to a big extent. W-O-W it seems flat, but with a slightly growing tonnage list we see signs of what could be a small correction. In the Feast rates are also stable but with a more positive touch to it. SE Asia rounds are paying ard USD 10,000-11,000 where India rounds are being fixed in region of USD 12,000. We also see a firmer NoPac market were rates have moved up to low USD 10,000 bss North China delivery. The period market has been fairly active where Supras can achieve low USD 10,000 for same while the smaller 46’s see the mid 9’s.
Chartering - Panamax
As the year-end requirements gradually appear, a softer tendency is explicit in both hemispheres for a too long list of open positions. Rates are even slipping from the recent relatively strong north Atlantic, where levels are about to fall off the USD 10.000 range. Owners willing to do Kamsar may still see a premium for the short duration and for calling WAFR. Fronthaul from USG is being challenged by the Ultramax segment, with voyage rates now close to 40 pmt or USD 15.500 bss Skaw/Passero. The wave of open positons is doing more harm to the Far Eastern market where activity has been fair, but owners achieve poor USD 8.000 for NOPAC and tick more for Aussie rounds or trips to India. Period volumes are limited but reported below 9.000 for 4-7 months or even wider. One year market for a modern kamsarmax hovers in the low 9.000 range. Owners are gradually becoming reluctant to offer any period with a declining forward curve heading south of Usd 8.000 for 2015.
Chartering - Capesize
Whilst the cape market is developing from bad to worse, owners are still hoping there will be one last rally before the Christmas hollidays. However at the same time, looking at supply/ demand figures as well as the dropping FFA values, such a rally appears unlikely. Because of an overall lack of cargoes, it is more challenging to assess last done levels and the rates reported on the Index may be on the high side.
Whilst the cape market is developing from bad to worse, owners are still hoping there will be one last rally before the Christmas hollidays. However at the same time, looking at supply/ demand figures as well as the dropping FFA values, such a rally appears unlikely. Because of an overall lack of cargoes, it is more challenging to assess last done levels and the rates reported on the Index may be on the high side.