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Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
IntermodalTo see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the extend that could turn sentiment around, it was still more than welcome across the market.

According to Intermodal  broker, the geared sizes are steadily ahead of the bigger segments, while macro data on the Chinese economy is still coming in short of expectations and consequently still weighing down on sentiment for Capes. The price of iron ore, which seems to be caught on a vicious downward spiral, has noted a fresh low for the year, while a big part of the market is placing the revival of iron ore imports from China on this very slide and the subsequent close down of local producers.

This week’s market report Intermodal said that, the average rate for Capes regained the $ 4,000/day level last week, which of course is hardly great news, but in the midst of uninspiring activity across both basins throughout the week, this slight upward correction might well be a sign that a floor is being created for the big bulkers.

Commenting on Panamax vessel, Intermodal, the Greece based broker noted that, activity in the Atlantic Panamax continued to be primarily driven by East Coast South America, with charterers only taking a pause just before the weekend, while despite the fact that the region has been drawing an in-creased number of ballasters, rates managed to hold around last dones. At the same time the period market remained active, while out of the Pacific rates were positional.

Rates for the smaller size segment continued to improve last week on the back of stable enquiry across most key trading regions. Supramax tonnage saw rates trending sideways just before Friday, while Handies held onto the good numbers reported recently throughout the week.


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