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Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK


Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips to the east ex Continent are close to USD 28k. The Pacific market has been quiet and limited activity seen in basin.  Charterers now book vessels on APS basis and ballast bonus barely covering bunker costs.  For Indo-India, large eco Supra can fetch close to Usd 7k + BB USD 100k basis APS Indonesia  . Premium cargoes like nickel ore are also less and vessels for nickel ore rounds fixed at USD 6k dely North China. Indian iron ore market remains dead with no activity on WCI & ECI forcing vessels to ballast to RBCT and Indonesia.  WCI-China rates around USD 10k and ECI-China around USD 9k. RBCT rv fixed at USD 9k for vessel  opening in ECI.  Red Sea fertilisers to India are fixed around mi-20s.  Not much activity seen on short period however rates around USD 12k.

Panamax
Panamax hardly affected by the recent firmer tendency for the big sisters. In the Atlantic rates are holding and hovering in the 15-16k range.  Activity is gradually cooling down as most players are moving only to close their books for the year.  Fronthaul is under some pressure for prompt loading with levels now passing 25k - and with some positional pockets on the North Cont or from Black Sea adding a good premium. For January the Atlantic basin looks more fine-tuned and balanced, so far. In the Eastern hemisphere some fresh activity has pushed levels up a notch close to the12k mark, but mixed signals going forward.  The period market is slow with short period levels in the mid 12´s and one year around 13.  Takers ask for options to move, the Owners look for higher levels.

Capesize
The market has operated on a two tier level. Spot positions demanding improved numbers and those charterers willing book forward positions managing to secure tonnage at not insignificant discounts. Part of this recent behaviour is related to the Christmas season and charterers taking advantage of those owners not willing sit with open vessels during  the holiday season, and  secondly the recent bad weather in some Chinese ports requiring charterers to fix in spot tonnage to fill holes in the port lineup. This has fuelled the rates which have risen from usd 12.20 for west Australia/China last week to over USD 14.00 this week.  The fronthaul market has also see gains, but not as much as the Pacific round voyage. The  present T/C  average is in the mid Usd 32k´s and this has produced some short period fixing at about USD 20k daily, this despite the forward paper market dropping sharply off early next year.
Source: FEARNBULK



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