Spot freight rates for the Capesizes remain depressed and the amount of fresh shipments is rather limited. The trans-Atlantic rounds hardly achieve rates in the mid to high US$ 11,000s daily at the moment and the Pacific rounds fell by some US$ 2,500 in one day. Fronthauls are rumoured in the low to mid US$ 25,000s per day and the iron ore highway trades are dropping further also.
The market for the Panamaxes is rather boring in regard to the low amount of fresh business available in both basins but the spot freight rates seem to have reached a turnaround finally with increases of US$ 200-300 seen on many major routes. Indonesian coal rounds are talked in the low US$ 13,000s daily with delivery in Southern China for modern tonnage. An interesting amount of periods have been concluded like a 9-12 months period for a younger 82,000 dwt at a freight rate of around US$ 12,500 daily with delivery in China and redelivery in the Far East.
The Supras and the Handysizes experience a rather stable market with interesting business around although sentiment seems to weaken somewhat in both basins. Charterers have been trying their luck to attract an older 55,000 dwt for a trip from Indonesia to WC India at a freight rate of US$ 8,000 daily and delivery in Northern China but the business failed. Handysizes can fetch freight rates of around US$ 7,000 per day for a trip to the Continent with loading in WCSA. Modern tonnage can be rated for a grains voyage from USEC to West Africa at about US$ 40-41/mt.
For regular and exclusive updates from the shipbroking markets, subscribe to the BMTI Daily Report.