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Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK

COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappointing week, Intermodal said in its latest report.

According to Intermodal, it seems that every time the rates for Capes firm, the rest of the market is unable to follow course and vice versa. The BDI noted a sharp decline last week, a movement entirely attributed to the Cape size market, while at the same time the rest of the size segments enjoyed improved fundamentals that eventually boosted rates in most key regions. It is worth noting that one year ago the BDI was standing at 1,865 points, over 65% up from current levels.

Intermodal further said that, rates for Capes noted a big downward correction last week, while as sentiment was being shaken charterers quickly got the upper hand pushing owners to accept levels heavily discount compared to the week prior. With activity softening across both basins, the impact was felt both in the period and paper market, while this current week has kicked off with strong signs of further corrections ahead for the segment in the short term.

Broker Intermodal further said, fresh business across both sides of the Atlantic has been supporting Panamaxes throughout the past week, while we expect things to move sideways this week as the strongly negative performance of Capes is bound to weigh down on sentiment eventually. At the same time things still remain quiet in the Pacific, with the market there in search of balance between the volume of enquiry and the long list of ballasters in the region.

The broker noted that, rates for both Supras and Handies moved up for a second week in a row, with market talk of firming activity in the Black Sea supporting sentiment, while enquiry ex USG and ECSA continued to support owners’ ideas.



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Recent News

Monday, 06 October 14
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Monday, 06 October 14
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Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday. The Cape index was down significantly week on week or lost 5 ...


Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of  largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...


Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...


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