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Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA


Handy
After  a  quiet  end  to  last  week,  the  Atlantic  handysize  market  continued  firminto  this  week  with  several  strong  fixtures  being  reported.  The  short  period market  is  still  active  with  a  modern  55k  dwt  being  fixed  for  6/8  months delivery  US  Gulf  at  around  usd  35,000  daily.  The  Black  Sea  market  is  still going  strong  with  fixtures  being  done  in  the  low  40k  region  for  trips  to FEast.  Market  softening  in  the  FEast  with  lots  of  vessels  opening  and looking  for  employment.  Little  activity  in  the  India  market;  seen  Indo/India around  the  mid  20´s  level  and  mid  to  high  20´s  India/China.  Nopac  RV´s are  in  the  mid  20´s,  similar  levels  for  Indo  China.  Still  interest  in  the  period market  with  modern  Smaxes  fixing  mid  20´s  dely  FEast  for  4/6  mos.  China ´s  iron  ore  imports  seem  to  be  the  leading  factor  determining  the  course  of rates  but  sentiment  is  generally  pretty  negative.

Panamax
Over  the  last  week  the  negative  trend  in  the  Panamax  market  has  gained further  strength  in  both  basins.  Atlantic  positions  have  had  to  accept  lower rates  now  in  the  very  high  30´s  for  transatlantic  business,  and  low  40´s  for fronthaul.  More  positions  and  less  fresh  requirements  seem  to  be  the  trend, especially  for  Pacific  vessels  now  also  suffering  from  an  ending  grain  season in  ECSA.  Pacific  r/v  has  come  down  to  27.000  and  even  less  for  spot positions  including  short  SE  Asia  rounds.  The  period  market  is  still  at reasonable  stable  and  relatively  high  levels,  although  it  seems  actual  period fixtures  are  far  and  few  between.  Added  to  the  negative  trend  the  sentiment lost  optimism  in  a  gradually  weaker  FFA  market.

Capesize
Moving  sideways,  but  with  substantial  geographical  pressure  shifts.  From being  the  main  area  of  interest  and  sniffing  at  usd  85k/day  for  the  fronthaul run,  Atlantic  is  cooling  down  somewhat  in  lack  of  fresh  business  and  reports of  forward  cargoes  concluded  at  heavy  discounts  to  spot.  Pacific  levels,  on the  other  hand,  are  on  the  rise  and  presently  hovering  around  usd  55k  for index  types  as  majors  Aussie  miners  keep  picking  prompt  ships  by  the dozen.  The  logical  consequence  is  considerable  short  period  activity,  with representative  fixtures  including  175kdwt/built  2005  open  China  mid  June done  for  4-6  months  at  usd  40k.  Paper  not  supportive  and  market  too nervous  to  encourage  much  long  period  fixing,  with  the  healthy  exception  of NB  177kdwt  ex  New  Times  Yard  China  done  for  12  mos  at  a  reported  usd 37k.
Source: FEARNBULK



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