Capesize
On the C5 front, we see enquires from miners and operators alike for late February to full March forward dates. On the East Australia coal front, we see livelier activities and volumes this week from a dampened last week. On South Africa and Indian business, we see limited enquiries. On C3 ex Brazil to China and West Africa, enquiries are largely centered on March dates. Far East tonnage is moderately abundant with ballasting tonnage weighing heavily on first half of March. Ballasters for second half of February is tight. On C5, the week started with fixtures concluding at low USD 9 pmt levels, retreating to mid USD 8 pmt levels by mid-week. On C3, we see some concluding at mid USD 23 pmt levels for second half of March.
Panamax
The Panamax market is approaching a potential bottom, indicated by high vessel counts in South America and specific market metrics, hinting at a nearing rally. A slight recovery is observed with the BPI timecharter average increasing and signs of improved demand in both the Atlantic and Pacific basins. Despite initial negative sentiment and high tonnage availability, there’s a mild uptick in charter interest and freight rates, suggesting cautious optimism for market improvement.
Supramax
There were no changes in the market direction, and the timecharter average remained at the same level. Australian or Pacific round voyage with ballast leg from China reduces slightly from last week, fixing around at USD 11,000 pd on Ultra. Better levels were paid for ships open in Southeast Asia via Indonesia trips to China. From South China, the trip via Indonesia to EC India declined by USD 2,000, and Supra was reported fixed as low as USD 8,000 pd. The Atlantic had better and healthier activity. Trip from USG and ECSA saw firm numbers. Ultramax 63,000 dwt, built 2017, was fixed at high USD 20,000 pd. Rates from West Africa for trips via ECSA to Singapore-Japan were rumored to be paid close to USD 20,000 pd. Trips from Black Sea-China fixed high USD 27,000 pd. In view of the upcoming Chinese NY, we expect the market to slow down and move sideways.
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Source : Fearn pulse
