Bulker Freight Market Overview (21 October 2020)

The Panamax sector continues to see a divergence between Pacific and Atlantic. The Pacific is witnessing an improved tonnage profile in the South and with more cargo hitting the market some brokers see the market pushing up with a tight supply on the prompt position. More enquiry being seen out of Australia (though very little is seen heading to China). Good specification Kamsarmaxes are seeing bids around the US$ 13,000 daily mark versus mid US$ 13,000s per day delivery CJK via Australia redelivery India with standard Kamsarmaxes more like US$ 12,000 daily. Out of Indonesia LME Panamaxes are fixing around US$ 10,000 per day with delivery South China via Indonesia redelivery India and an 82,000 dwt built 2020 was heard to have fixed delivery South China via Indonesia redelivery China at US$ 13,750 per day. In the North the NoPac continues to provide a steady cargo flow which is keeping charterers honest, an 82,000 dwt built 2020 fixed a NoPac round at US$ 12,700 daily basis delivery CJK. In the Atlantic the North Continent remains quiet and levels keep dropping as charterers rate check then look to cover with own tonnage, charterers are bidding US$ 10-10,500 per day for quick rounds on standard Kamsarmaxes. Out of the US Gulf there is a bit of a stand-off as charterers drop their bids and owners reluctant to chase although the charterers appear to have the upper hand. ECSA is also lacking early enquiry, on the forward position a 75,000 dwt built 2008 was heard to have fixed US$13,500 daily + US$ 350,000 BB for a fronthaul delivery aps ECSA 15/20 Nov.

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