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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES


DRY BULK

Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect  some  fresh  enquiries  for  the  next  weeks.  Supramax  vessels  open  in USG are still achieving  low  50´s  to  the  Med  and  mid/high50´s  to  the FEast. Handymax  tonnage  ex  Bsea achieving high  30´s fronthaul and supras  high  40 ´s.  The immediate  outlook  is  for  flat/stable  conditions. The Market  in  the FEast  continues to slide with fresh tonnage coming  open,  adding  to  many already  spot  vessels, it seems  that  t/c rates  will  continue to slide  -  whether these  levels  continue  once  the  tonnage  clears  is  yet  to  be  seen. As expected India  rates continue to soften  with  iron  ore  WCI/China  fixing  around  the $20K  level. Similar  levels for a Pacific RV  at  low  $20K  and  very  little activity on Nopac rounds. Period enquiries still there but charterers are not willing to pay the rates as market slides.

Panamax
The  Panamax  sector is still suffering  from  less  demand  and  activity  has  been low  the last few days. Typical levels are in the mid upper 30´s  in  the Atlantic and mid 20´s  in  the  Pacific. Some  fixtures reported  still  at  decent levels,  but  trend  is  clearly  downwards.  More spot  positions in the  Atlantic and  Pacific combined  with  less fresh orders and  chartrs  reluctant  to  fix  their requirement,  indicate market will continue down. The period  market  has cooled  down  with  less takers although  Owners  holding  on  to  their  rates. Market  activity may also  be  somewhat  influenced  by the  Posidonia taking place  this week.

Capesize
Rates have been decreasing over the last week with Australia round voyage presently at low USD 12s and Tubarao - Qingdao in the very low 30s. Although rates have been in more or less free fall in the Pacific from monday some resistance is seen mid week with the Australia round up as the only one of the Baltic routes. There is more optimism in the market as we are approaching end of the Posidonia in Greece!
Source: FEARNRESEARCH



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