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- Bulker Freight Market Overview (27 November 2020)
Some fresh business for the Capesizes shows up and iron ore voyages out of West Australia are rated again above US$ 7/mt while Brazilian loading can currently be concluded in the mid US$ 13s/mt. Coal cargoes of some 160,000mt from Colombia are talked in the high US$ 7s/mt and further firming when heading to ARA. The trans-Atlantic as well as the Pacific rounds have seen gains of around US$ 400-500 in one day with probably some more improvement possible.
A flurry of fresh shipments brightens the future prospect for the Panamaxes at the moment with spot freight increasing slowly but at a steady pace. Indonesian coal is shipped to China and India and grain is pouring out of ECSA. A younger 82,000 dwt has been talked at about US$ 12,000 daily for a coal trip from West Australia redelivery Japan. And same commodity is rumoured at about US$ 11.50/mt for 75,000mt for mid December loading USEC and destination ARAG. Tonnage in the North Atlantic is a bit tight putting some pressure on freights.
An interesting stream of shipments makes the market for the smaller sizes rather lively. From the US Gulf a 5-year old 63,000 dwt saw an APS freight rate of around US$ 18,000 daily for a trip towards ARA and a Supra is rumoured to have been done at some US$ 24,000 per day for an inter-Continent trip. Small Handysizes are talked in the range of US$ 14,000 daily for shipments out of ECSA heading to the Continent. In the Far East the situation remains encouraging and owners are pushing freight rates higher with the Pacific rounds talked in the mid US$ 9,000s daily with delivery in North China.
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