Fearnley's Dry Bulk Market Report

Capesize Spot levels up across the board, mainly due to sharply increased transatlantic and fronthaul activity. Limited number of ballasters and considerable iron ore volumes expected from Brazil the next few weeks open up for interesting developments on a china-brazil-china round voyage route that has so far only improved from USD 9300 to USD 10750 w-o-w for standard 180000-tonners. Transatlantic levels for same types are up almost 30% to USD 12700 and climbing further. Paper for q4 is giving support, and 4-7 months periods have been done at usd 14750 for super-economic 180000- tonners delivering China end July, whilst slightly lesser 182000 dwt units fetch USD 12k basis prompt delivery for 10-16 months. Panamax After a soaring 6 weeks (BPI > from 4.179 June 1st to 8.939 July 15th) the Panamax market have accelerated further in both hemispheres. Fresh requirments are met by few candidates in a elevated T/A mrkt well above 12K .Chrtrs with N.Atl fhaul facing 17-18 K for ppt deliveries. USG trip out done at 14 + 450. ECSA still active and a contributor to a firm SE Asia / India market, where owners secure close to 9.000 DOP or 13500 + 350 bss APS. Chrtrs with the typical Indo rounds paying a premium to cover ppt/spot requirements.Aussie/Nopac in the 7-8 K range. Period interest and activity more evident arround 8 K but 1 year moving sideways with the forward curve. Could some late week holdidays give a short term breat ... Handy It has been a somewhat firm week for Handies and Supras. ECSA/USG grain is getting more active. A Supramax was reported $17,000 daily for trip USG/Singapore- Japan whereas it was said $12,750 for trip USEC/E.Med. Pacific market is getting tight for tonnage with more vessel wants to move to Atlantic, while Indian port is congested due to monsoon combining slow loading in Indonesia during Ramadan. A 63K dwt was said high $8,000 daily for S.Korea/S.E. Asia whild A 55K tonner was reported high $6,000 daily for N.China/S.E. Asia.