Bulk Carrier Freight Market Overview (16 October 2019)

The market for the Capes has turned down with new business hardly seen in any basin. A drop in spot freight rates is seen nearly throughout the routes with the trans-Pacific round voyage hovering around US$ 23,000 daily and the Atlantic counterpart dipping below US$ 24,000 per day. Coal trips from Southern Africa to ARA can be concluded hardly above US$ 9/mt while this commodity loading in Colombia is doing in around the high US$ 10s/mt to the same destination at the moment.

The Panamaxes seem to twinkle towards their bigger sisters as business is somewhat scarce and the spot freight rates cannot hold to last done levels. Fronthauls are talked in a range of US$ 25,000 daily for tonnage of 74,000 dwt but not much vessels are open for such trips. Young tonnage of 82,000 dwt is trying to get rates at some of US$ 15-15,500 daily.

Little amount of business is seen for the Supras with a 62,000 dwt carrying salt from Egypt Med to USEC at a rate in the high US$ 13,000s daily and tonnage of 58,000 dwt is rated in the high US$ 11,000s per day for trips from the Continent to the US Gulf. The Handysizes seem to take a pause. From Continent to USEC younger tonnage of 38,000 dwt is talked at rates in the mid US$ 13,000 daily

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