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Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS

COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry Bulk market were hard to find during last week as enquiry remained particularly soft, intermodal, Greece based broker said in its weekly report.

According to broker, as the Far East has now started to slowly get back into action, we believe that the market should find some sort of balance in the short term, but whether a definite positive reversal could be imminent is very hard to argue for, as fundamentally nothing has changed yet compared to the weeks leading to the Chinese New Year festivities.

The broker noted that, capers remained the big losers of the market for yet another week, which of course didn't come as a surprise given the expected slowdown in Far East enquiry, while period activity was once more pretty much nonexistent. Starting this week the spot market appears to be more active but in terms of freight rates we don’t expect any substantial come back in the next few days.

Noted on Panamax, Intermodal said, the end of the week prior saw the Panamax market slowly reversing course and it seems that the optimism that was built up managed to feed through last week as well. Despite the fact that the upside noted in rates for the segment was overall limited, talk of fresh business in the Pacific seems to have supported the market there, while rates in the Atlantic remained around last done.

The Handy/Handymax/Supra market moved sideways overall, with things in the Pacific remaining slow, while starting end of last week we started see-ing some signs of life in both the ECSA and Continent regions for the smaller size segments.



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