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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL


The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing both rates and sentiment to very low levels. The BDI has now slipped back to end of February levels with any upside noted during the month of March being completely erased and with the weakness of the Panamax market being the most notable one, as the segment has been and continues to be under a lot of pressure.

The Capesize market has kicked  off the week with talks of better activity, which never materialized,  and owners ha d to  substantially lower their ideas as charterers held firm the upper hand for yet another week. The one ray of  hope has appeared closer to the weekend,  as volume s of business in the  East have spiked up, while no reversal of rates or sentiment was achieved in the Atlantic, as the ample available tonnage in the region is still blocking any significant upside.

The Panamax market remained  under significant pressure this past week, with the BPI moving south to the low 800s level and the average rate for  the segment falling in the mid-$6,000/day level. Early dates and period  fixture s received  most of the pressure, while more  forward business witness some steadier numbers.

Moving onto the smaller size segments, things were less dramatic but still far from good, as Handy/Supramax rates  retrieved with activity ex-USG and  ECSA being in adequate to offer any support,  while business in  the Pacific proved uninspiring as well.

Analysts:
Mr. George Lazaridis |
g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr

Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.

Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.



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