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Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
PanamaxSupramax
Market remained firm - true mostly within Atlantic.

Star performer USG remained its title, where Supras reached around USD 21k for a trip to Cont. The Continental and Baltic have encountered with tight tonnage, says Fearnley in its latest weekly report.

According to Fearnley, the Supras out Baltic to USG were paying above USD 10k net. Supras delivery in Med for 4/7 mos trading ww USD 12k. The Pacific basin is flat compared to Atlantic, apart from S. Africa/MEG range where market still is strong.

Fearnley further noted that ECI to China is paying Supra owners around USD 6k, while trips from N. China to SE Asia is paying high USD 5k/6k. Several owners are looking to cover their vessels on periods. The period market has improved somewhat, where owners achieving around USD 7k on short periods up to 1 year.

Panamax
The firm tendency continues in both hemispheres, especially in North Atlantic. Longhauls out of NOPAC, USG and ECSA combined with weather delays contribute to the solid levels.

Fearnley says the Panamax ships’ T/A rounds in 18-20k range, and even solid 30k or equivalent on T/C done Baltic to Med. Fronthaul >20k from Cont, 16+550 from USG. ECSA hovers around 9+400 bss COGH. The tone is positive in the East, despite a gradually growing tonnage list.

Commenting on Indonesia rounds, Fearnley says, Indo rounds fixed in the 8500-9500 range. Low/mid 9’s done mid-week for Aussie-China and for NOPAC biz - even up to 11k reported for Pac rounds. With the hot spot market and a rising forward curve, owners have gradually increased their rates for period. 8500 to 9500 done on short/medium period.

Capesize
There were signs of a positive start to the week with slightly stronger FFA values on Monday, says Fearnley. However, it soon became clear that physical support was lacking and rates dropped in the Pacific as well as the Atlantic. There has been a drop of USD 2500 on average in one week and West Australia round is being fixed in the upper USD 5's.

According to Fearnley, the Atlantic is sliding steady with a surplus of prompt tonnage.

There is still a hope for a last rally before the Christmas holidays, but obviously chances are getting slimmer as we are getting well into December, Fearnley concluded.


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Wednesday, 05 October 16
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