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Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
PanamaxSupramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black Sea fixing in the high 10k and USG/Cont paying high 11k.

According to the broker, the Pacific has continued dropping this week. Supras in N. China is achieving low/mid USD 5k for trip to SE Asia, while S. China via Indo to China is fixing at high USD 3k's. Trips from ECI to China is trading around USD 4k, while Supras bss del Singapore are getting around 6k for trips via Indo to China.

Panamax
Fearnleys noted, in the Atlantic Panamax experiences a lack of prompt tonnage which put pressure on rates. charters with mid-Nov cancelling struggle to get ships able cancelling which subsequently push rates. The broker further noted and they see the same tendency in Baltic where Pamaxes have been fixed at USD 12k DOP cont for Baltic rounds.

In the Eastern hemisphere,  Fearnleys says, Post-Panamax still asking a decent return for Pac R/V’s, 93000 dwt in the sth seeing 9000 on same, with ones in the north seeing high 7’s/8k. Tight on the prompt side forcing charters to pay up. There's a few early EC Aussie cargo with charters bidding high 7's for early Kamsarmax against owners talking in the 8's. However tonnage list in N China-JPN is getting longer, LME offering high 6's for a nopac rv against charters bidding low-mid 6's.

Capesize
Last week ended with a strong push on the Brazil/China tour, where rates moved to the USD 11 pmt level and on high volumes, the Oslo-based broker says in its latest report.

Fearnleys Weekly report further noted that the West Australia/China route also moved up close to mid USD 5 pmt level. This week the activity have dropped and the freight levels moved back down again to USD 10 pmt for Brazil/China and just below USD 5 pmt mark for West Australia/China.

It does appear that this is where the freight levels are expected to be for the next week as well. Most owners now have a preference to do Brazil/China as this will occupy the vessel way into the Q1 period, which seasonally is the weakest period of the year, Fearnleys commented on Cape.


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