Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 laden legs within the Atlantic which is actually not bad at all. The problem is that a large amount of tonnage is pouring into the Atlantic (ballasters from India etc.) and this should excerpt downward pressure on rates.

Outlook: Flat. Very healthy tonnage supply in the East means charterers are sitting back and waiting for the best rates, both on Handies and a large amount of Supramaxes opening up in North China with tonnage around the Christmas w/e looking healthier than owners will be wanting. Off the WCI tonnage is tighter with owners aiming in the high teen level to China. There has been a bit of short period activity with a couple of fixtures seen around the 17k level but overall the sentiment is pretty negative until the New Year and then what

Panamax
The Panamax market has experienced a softer tendency this week with sliding rates in particular in the Pacific from mid week. North Atlantic holding better for prompt dates but majority of the prompt December cargos now gradually covered. Chrts with January stems already see a good number of ballasters committed for same putting pressure on January market. Owners are willing to cut their rate ideas in order to secure employment before the holidays. In the Pacific the rates apparently left what seemed to be a logical floor as it continued to slide downwards in lack of any fresh requirements. Pac rounds fixtures ard 13/14k daily while TA rvs fixed in the 23k region. Fronthauls are still at healthy 26/27k level. Period market has not been very active this week still some short and longer periods reported. FFA market gradually slowing down and forward levels under pressure.

Capesize
Rates and the BCI have continued to slide this week, despite a reasonable activity level. The fronthaul market T/C return, being on par with the West Australia level, has prompted owners to fix shorter Australian round voyage at the going rate rather than committing tonnage for a long duration via Brazil. The Atlantic have been confused, with cargos via Narvik or the St Lawrence commanding a premium, the index has thus been overpriced. Physical transatlantic coal has been fixed at significantly below the index, albeit at higher levels than the Pacific due to the continued lack of tonnage in the Atlantic. At the time of writing, there have been some encouraging signals and early vessels have fixed at improved levels, giving owners a little more faith in the market. It will be interesting to see how the market moves in January as many new buildings are being pushed into January delivery (thus 2011 blt) and this increased supply could have a negative effect on the rates.
Source: FEARNBULK