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Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
intermodal logoCOALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, but despite the fact that the BDI managed to move closer to 1,100 points, a level last approached in December 2014, there was a strong sense towards the end of the week that the market was running on less steam, says Intermodal.

According to the Greece based  broker Intermodal, at the same time, a mixed picture across the different size segments was additionally placing a limit on expectations for the market moving another substantial leg up, something that should be more clear during this week. On the negative side, with the performance of the Chinese stock market still being bearish for commodities demand and with China having already added more than 3 million metric tonnes to its iron ore stockpiles in July, it will definitely be interesting to see how long can this restocking be extended for.

The broker further noted that, the Capesize enquiry was particularly strong during the first half of the week, but things started to slow down in the Pacific just before the weekend. The paper market remains firm, while this week has also kicked off on a substantially positive tone for the segment.

Commenting on Panamax, the broker says that, the Panamax market kept rising last week, however fresh business volumes took a hit just before Friday with rates trending sideways. Ample business out of East Coast South America remained the main force supporting rates.

Fresh enquiry out of the Atlantic resumed last week for the Handy/Handymax/Supramax market, helping rates to hold around last dones, while numbers in the Pacific were a bit off for Handysize business compared to the week prior.


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