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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
PanamaxSupramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to Continent 15k with same said Fearnleys in its latest weekly report.

According to Fearnleys, usual scrap runs from Cont to Mediterranean now concluded at $11-12k daily. From the Black Sea to Far East rates remained ca $15k daily. The sentiment in the Pacific kept softening with plenty of tonnage and less orders showing around. Supra open in Singapore hardly saw 8k for Pacific R/V. A 58k vessel fixed/failed at $7200 for coal biz to Philippines bss Spore del. Fearnleys further said, for Indo/China coal biz it was seen only $7k levels bss end May dates. Less Nickel Ore activities recently i.e. Supras get only 8k levels bss HK del. For steel cargoes chrts rating Supras at 6k bss Bohai Gulf.

Panamax
Commenting on Panamax Fearnleys says, it has been a slow and uneventful week for the Panamax market. Golden week in Asia last week combined with a lack of fresh cargoes and a growing tonnage list is again putting pressure on rates in both hemispheres.

Fearnleys further noted in the Atlantic region the TA market has been most exposed with rates falling to just above $7k, while a Kmax was reported fixed for 1tct via St. Lawrence redelivery Skaw/Gib for just $ 5500/day. FH rates hover around mid $13k’s.In the East there have been some new fresh biz this week and with more activity out of S. Am the owners hope this could redress the balance of the market. Trans-Pacific RV is now at levels around mid $7k. The expectations for both hemispheres remain mixed, but there is a slight more optimistic tone.

Capesize
Rates improved towards the end of last week with a positive trend continuing into this week. However, as we got to the middle of the week, rates were coming slightly off partly due to less activity because of holidays in the Far East.

Demand for Brazilian Iron ore is lower as reflected by the lower iron ore price, but the C3 freight keeps stable in the mid $13s pmt whilst the c5 freight has been moving from mid $5s to mid $6s. Period activity has been limited this week.


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