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Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
PanamaxSupramax
Another slow start to the week with somewhat softening rates and few fixtures.

According to Fearnleys Weekly Dry bulk report, the Nickle ore trips to China via the Philippines with delivery S. China is paying around mid $9000, while nopac rv paying Ultras around $9000+200,000 on aps bss.

Indo/India trip with delivery Thailand range is giving owners around mid $8000, while sand trips from Vietnam to Singapore is getting fixed around $7000. Few movements and signs of softening both from ECSA and USG. Latter mostly due to holidays in States. The weekly Fearnleys report further noted that continent seemed to be tightening up on supply. Supras open Continent was fixed around $14000 daily for front haul and backhaul around $5000 daily. Backhaul from the Far East to Continent was fixed around $4000 daily with the split rate.

Panamax
Fearnleys dry bulk analyst says the activity in the Panamax market has slowed down quite substantially the last week, especially in the Atlantic region putting a downward pressure on rates across all routes. TA and FH rates are respectively at levels around mid $8000’s and mid $14000’s.

The Atlantic market is expected to slide further in the coming days with negligible fresh biz. The Pacific market is struggling to absorb all the tonnage available, and a transpacific RV is at the time of writing facing levels just below $8000’s. It seems as the market is over the top for this time, at least in the short-term perspective. FFA’s, July is priced at around $9000’s, while Q4 now priced at mid $9000’s on the P4TC index.

Capesize
Considering we are in a year with relatively good expectations, it is depressing to see the realities surrounding us at the moment. Rates have been dropping steadily and they still are, with the index dropping 10% in one day: A spot trip in the Pacific pays around USD 6000 a day, whilst the c3 is presently just below USD 11 pmt.

Iron ore prices have been slightly up in the beginning of the period, but dropping again over the last couple of days. The build-up of stock in China in April, as well as being in a seasonally weak period, is creating the situation we are currently in says Fearnleys.


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