Volume Remains Steady On The East Australian And Pacific Front

By
MFame Editor
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171

Capesize

We see a drop in C5 enquiries this week, mostly with late January dates. On the East Australia coal and Pacific front, volume remains steady from last week. On South Africa and Indian business, we see limited enquiries for late January dates. On C3 ex Brazil to China and West Africa, we see dampened volumes as well; majority of outstanding enquiries have first half of February dates. The Far East and ballasting tonnage seem to be building up. On C5, we see fixtures concluding at low to mid USD 8 pmt levels by midweek. On C3, we see limited fixtures concluding at high USD 23 pmt levels for early to mid-February dates. One known fixture of a 179k dwt, 2010-build, non scrubber for 9 to 11 months at USD 23,800 per day.

Panamax

Based on the latest reports, thermal coal demand in Asia remains subdued. Additionally, the South American grain export season has yet to start. These factors have contributed to the weakening of the market as expected.

Regarding the seasonal average market development, the market is expected to reach a bottom in either week 5 or week 6. However, it is important to note that the market is subject to fluctuations and can be influenced by a variety of factors.

Supramax

For another week, we see a steady decline in rates for Supra–Ultramax tonnage. Though the cargo flow from the US Gulf and South America remains steady, charterers keep pushing the rates down due to the extensive number of ships opening in the area. Trips from ECSA to Far East fixing at USD 16,000 pd plus USD 600,000 GBB pd. Transatlantic trips pay USD 27,000 pd on modern Ultra basis delivery USG. Oversupply of tonnage in the Continent and Black Sea areas significantly decreased spot rates. Supramax fixing scrap from the North Continent to Turkey at USD 18,500 pd. There are undoubtedly fewer spot cargoes, and the holiday season has an impact on the slow and bearish market. Trips from Mediterranean to ECSA are fixed at a low USD 10,000 pd. Supramax 55’ dwt fixed TCT to China at USD 22,000 pd.

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Source : Fearn pulse

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