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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

Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...


Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...


Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...


Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...


Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...


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