Chartering - Handy
Supras continue to trade in a depressed market. The
average time charter has slipped to below USD 6000, and now trades at
about USD 5800. The forward curve is in contango, and thus the rates bid
for tonnage for short period is in the low USD 6000’s and is in line
with the curve. On longer period owners wanting to fix, need to give
away optionality. Although cargo volumes are still quite healthy, the
cargos disappear quickly at lower rates, especially the short duration
ones, as owners hope to re-fix and cover over the Christmas period.
Chartering - Panamax
It has been an extremely slow week so far with rates
continuing to soften in both hemispheres. The tragic mudslide in Brazil
is affecting iron ore exports (about 30mio mts p.a) out of Pt Ubu and
will force buyers to source from alternate facilities. This can again
put pressure on rates as a considerable volume of cargo will disappear
from the Atlantic market. TA’s are now paying around 4k while ows fixing
Fhauls bss Cont dly would need to shade the 10k mark in order to go
Feast. In the Pacific we see Aussie rounds being fixed at low 4k/day on
kamsarmaxes and the shorter Indo/India trade is paying abt the same. The
period market is next to non-existent, however a short period fixture
was reported in the mid/high 5’s.
Chartering - Capesize
There are no good news in the Capesize market; after the
Pacific has remained steady for some time with a possibility for further
improvement in rates, the opposite happened and c5 is presently at USD
4.70. The c3 has struggled some time and last done is in the mid 9’s.
Both are still under pressure. In the second hand market, more ships are
being quoted as sales candidates but buyers seems to hold back.
