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Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
FearnlyesCapesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning of the new year and demand is tepid on the back of weak buying activity in China said Fearnleys in its latest Weekly Report. Power plants in China have drawn about 20 million tons of coal inventories since the end of November which is a big reason for the slow market action. The market probably won’t liven up again until after the Chinese New Year.
 
Panamax
Commenting on Panamax, Fearnleys said, another disappointing week for ship owners, as the market continues down in both basins following the limited supply of fresh cargoes. 
 
A transatlantic round voyage now only pays high USD 4,000's, while a short front haul from the continent pays around USD 13,500 Fearnleys said. In the east, a Pacific round voyage yields about USD 6,700 per day, while a backhaul pays around USD 3,000. The market is down 186 points from last week, now at 893 points.
 
Supramax
The market remains under pressure across the Atlantic basin, with rates falling further down. 
 
Tonnage oversupply and limited demand on the cargo side are spreading negative sentiment. Owners resistance to face lower rate and charterers in no rush to fix, resulting in too many spot positions. The market shows no resistance due to the amount of tonnage building up. A transatlantic round voyage below USD 5,000 and front haul from USG to Far East around USD 14,000, it's about same level both from Continent / Bsea area to East.


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Recent News

Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...


Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.    Acco ...


Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...


Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...


Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...


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