After posting several consecutive days of improved freight levels in the final days of July, Capesize rates take yet another breather at the start of August with rates either flat-lining or reversing slightly. Only the Pacific RV, ever volatile, takes a notable loss, down some US$ 1,000 to US$ 44,000 daily, nonetheless no major loss for a route that has the capacity to rise by as much as US$ 5,000 in a single day. Brazil/UKC voyages have stabilized at around US$ 13/mt while Brazil/China is holding steady at US$ 28-29/mt.
Even as Capes slide into mild correction, Panamax freights appear to be trending toward a flatter trend that could—say owners—potentially turn positive as the week continues. The declines have been minimal with only the front hauls (down US$ 300 day-on-day to US$ 47,000 on 82,000 dwt) showing any kind of significant reversal. Trans-Atlantic RV rates, on the other hand, appear poised for recovery at US$ 28-29,000 daily while inter-Pacific RV rates look even better, hovering in the US$ 27-28,000 range.
Supramax freights are holding their own for now with modest improvements seen across the board as charterers fail in pressing down rates for early August dates. NoPac rounds are especially buoyant at the moment with tonnage of 58,000 dwt pushing to just below US$ 30,000 daily while Ultramax tonnage has already passed that line (by some accounts). Inter-Atlantic trades are performing solidly as well—there are rumours of 32,000 dwt ships fixed at US$ 33,000 with steels ex-Black Sea to USG-Caribbs.
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