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Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
PanamaxSupramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific round voyage rates ending up around low $ 6k. According to Fearnleys, Fronthaul rates slightly down with average US$ 10,342. Better rates have been seen from Black sea to Singapore-Japan range that is around low US$ 11k. Backhaul is encountering with a bit better rates in these days, supras being fixed around $ 6,000 from Cont to ECSA. In fareast a 57,836mt was fixed for a trip via CIS to southeast Asia at $6,500 daily. 55,675-dwt 2004-built saw mid $ 8,000s bss delivery Abidjan for a short period redelivery ww. A 58,018-dwt was fixed basis del South Africa for a trip re-delivery east coast India at $ 12,500.

Panamax
Commenting on Panamax, Fearnleys an Oslo-based shipbroker says, muted and slowly loosing steam in the Pacific with most people in that area on holidays this week. Levels gradually heading south leaving the 6.000 mark mid-week in general. Nopac trading has been more active lately and now pays around 20 or tick less on voyage alt 6.000 bss delivery S Korea / Japan range. A bit more activity in the western hemisphere with some fresh requirements early week although less than expected from USG, and with the same tendency; slowly sliding. T/A rounds about 5.000 on average. Some surprisingly strong fixtures reported from ECSA at 8+300 but volumes are low. Period activity also reduced from last week where LME's got 7.000 for short/medium. Most players waiting for next week for a new direction.

Capesize
Fearnleys noted that, the majors are in general inactive out of West Australia, but freight rates still improve slightly day by day on the C5 route. Ships in Pacific achieve just above USD 10,000 daily for a Brazil round voyage, and the C3 market is in general on the rise, improving from upper 11's in the start of the week to low/ mid 12's by the end of the week. In the Atlantic a shortage of ships in the short term has resulted in stronger rates. All in all a strong trend despite the holidays in China.


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