Fearnleys Dry Bulk Market Report

Capesize Another uneventful week with fixtures concluded at last done levels, C5 levels remain around the USD 3 mark, whilst C3 is still just short of USD 6. A couple of stronger fixtures has been concluded in the Atlantic, mainly explained by ice conditions at load port. Panamax The Atlantic activity has been reasonable taken the Easter days into account. Rates in Northern Atlantic keep steady and Pmaxes obtain low 4k while Kmax being fixed mid 4k for t/a rounds. Some charterers utilizing the favourable “low” rates locking in coa’s these days. Grain houses active booking ships. S.American grain absorbing tonnage and rates firmer for trips to Feast. Good Kmaxes fixed at high 6 and 7k+200bb to Feast. Pacific little slower after Easter and nopac round covered in the low/mid 4. Aussie/India also in the low 4k. Some medium periods typical 6-8 months covered at low 6k while 1-year Pmaxes obtain 4.8-4.9k now. Still expectations for the grain ECSA on short term. Supramax It is still decent activity out of the ECSA and rates are pushing up. Owners with Ultramaxes are asking USD 10k+USD 100k GBB for trip Feast whereas for Continent destination asking around USD 9k. It is not the same push out of the NCSA and owners are ballasting towards USG for cargo coverage. In the Pacific, we see some negative signs with owners fixing below 5k bss Spore for trips to full India. This is below last done but for the longer duration trips via NoPac owners are asking 5.5-6k DOP Feast rates whereas charterers are back to rating APS at lower levels. The period market in the Pacific is back above the 5k mark and owners fixing out on period in the Atlantic are closer to 6k.