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Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS


Handy
The  BSI  regained  positive  momentum  exactly  a  week  ago  and  the  Atlantic remains  firm.

Supramaxes  open  in  USG  are  now  achieving  mid  40´s  to  the Far East  (up  4K  from  last  week),  USD  12500  from  Cont  to  USG.  T/A  rounds remain  in  mid  20´s.  Handymax  tonnage  ex  Bsea  achieving  mid  30´s front haul,  Supras  low/mid  40´s.  Short  period  activity  up.  The  outlook  is continued  firm  conditions.  The  FEast  market  is  picking  up  again  during  the last  week,  the  rates  are  improving  for  all  directions.

For  Pacific  rounds Supras  trading  around  20K  and  for  Indo/India  coal  trips  Supras  can  achieve around  mid  10´s.  The  period  market  was  quite  active,  for  short  period Supras  were  fixed  in  the  mid  20´s. 

The  Indian  market  is  still  increasing  and is  nearly  back  to  the  top  level  of  this  year.  For  iron  ore  trips  from  WCI  to China  Supras  were  fixed  in  the  very  high  30´s  -  owners  try  to  achieve  40+Supras  open  ECI  trading  in  the  high  20´s/low  30´s.  For  Richards  Bay  round back  to  MEG/India  Supras  trading  in  the  mid  20´s.
 

“Indonesia / India coal trips Supramaxes can achieve around mid 10´s and Richards Bay round back to MEG / India trading in the mid 20´s”
 

Panamax
The  Panamax  market  has  been  a  bit  vague  and  only  gradually  come  back  to life  after  the  Chinese  holidays  with  mixed  rates  especially  in  the  Far  East hovering  around  the  USD  25000  level  per  day.  The  Atlantic  basin  seems  to push  up  on  spot  levels  with  some  fresh  requirements  and  owners  holding back  for  fixing  in  the  upper  20000  range  for  straight  T/A  rounds Confidence  seems  to  be  still  there  for  the  medium  forward  market  with short  period  rates  above  the  spot  market.  4-6  or  5-7  months  are  fixed  at,  even  above,  USD  35000/day  in  the  Atlantic  and  27500  in  the  Far  East.  At the  same  time  FFA  market  has  been  sliding  on  low  volumes  throughout  the week  in  search  for  stronger  directional  signals  from  the  physical  market  to improve  the  overall  sentiment.


Cape size
With  surprisingly  good  level  of  activity  during  the  Chinese  Holidays,  by  the end  of  last  week  people  were  getting  more  and  more  optimistic  in  terms  increasing  rates  immediately  after  the  holiday.  However,  last  Thursday  some Far  eastern  owners  accepted  close  to  a  dollar  lower  than  last  done  on  the Australia  round  voyage,  clearly  resulting  in  charters  holding  the  upper  hand Charters  have  managed  to  utilize  this  situation  fully,  and  Australia  round voyage  is  presently  at  low  9s.  Front haul  rates  have  been  reduced  to somewhere  between  25  and  26  pmt  and  backhaul  is  presently  below  USD  11 pmt.

However  at  the  time  of  writing,  chrtrs  in  the  east  have  been  extremely active  in  fixing  a  big  number  of  ships,  close  to  10  on  a  day  for  the  Australia round  voyage,  which  could  be  a  sign  of  having  reached  the  bottom  for  this time.
SOURCE: FEARNLEYS AS



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