There is a sharp contrast at presenrt between the drastic fall recorded on most dry bulk markets and the overall optimism that still apparently prevails in the news with most articles or press releases dealing with healthy first quarter results, miners output growth, record ship’s values, massive en-bloc sales …

 

 

 

 

 

 

 

 

The Panamax Pacific market really collapsed last week with round voyage rates hovering around the US$20,000 mark and backhaul values falling below that. Short period rates also depreciated with one vessel fixed at US$28,000 with delivery China. Some owners feel that the Pacific has started to bottom out. The Atlantic still proved to be more resistant but rates were forced down by charterers who were taking advantage of the build up of tonnage and ballasters. Fronthaul rates stood at US$36,000 but general sentiment suggests that this will fall further this week ...

 

 

 

 

 

 

 

 

The Handymax market continued its downward trend particularly in the Pacific where the pre-holiday rush pushed owners to discount rates. Trips back where being fixed in the mid teens when Indonesian rounds where being fixed in the high teens. The Atlantic maintained higher levels with the differential between East and West set at a tick more than US$10,000. Because of the Far East situation, trips to the East today command a premium. The US Gulf gained some momentum helped by the high cargo volume from ECSA, which is attracting ballasters.
Source: Barry Rogliano salles, Shipbrokers, Paris

Published under Cement News