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Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
FearnleysSupramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Both USG and ECSA have shown sign of slowing down with USG at the forefront. 
 
According to Fearnleys Weekly Dry bulk report, USG to emed around $13000 . Ultras from ecsa to med around 14k daily. From ecsa to WCSA $17000. On front haul to Singapore-Japan around $14000 daily+ bb .Cont has been quite firm, with supras fixed to ECSA around $7000 and on front haul around $16000. In the Pacific prompt cargoes got covered last week and more tonnage available. Fearnleys analyst further noted that the levels for Indo/China coal round still quite healthy being fixed around $12000 bss Singapore delivery. CIS coal to N. China fixtures is getting concluded around mid $7000 with delivery N. China. Nickle Ore rounds delivery S. China via the Philippines back to S. China is getting fixed around mid $9000.
 
Panamax
Commenting on Panamax, Fearnleys says, it has been a new week with firm rates in both hemispheres, but the last days there has been a softer mood especially in the Atlantic. Less activity from ECSA and a more balanced market both in the Black Sea and the North Atlantic have led to somewhat weaker rates compared to last week. 
 
Fearnleys further commented, TA and FH rates are respectively at levels around mid $10000’s and low $16000’s, while Baltic rounds are paying around mid $11000’s. The sentiment in Asia appears to remain, despite some softer rates the last couple of days. A transpacific RV is now priced at around 9000’s with decent activity being reported. FFA’s, Aug is priced at $9000’s, while Q4 is now priced at mid $9000’s.
 
Capesize
A volatile week in the Cape market says Fearnleys. 
 
West Aussie started on a firm note for thereafter falling a bit back. It has been very positional where some spot positions getting as high as USD 6 pmt while slightly later positions had to settle for $5,70-80 pmt and softening a bit further. 
 
The Brazil to China market, Fearnleys says, started firm with rates reaching the mid $13 pmt level but subsequently dropping to around the $12 pmt mark. The period market still firm and getting a good premium to spot market. 1 year period on a standard 180k dwt still able get very close to the $15000 mark.


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