Ever the size class ruled by sentiment rather than physical trading, Capesize freights slide further and more sharply than in days past with an average of US$ 2,000 lost on long hauls and more than US$ 3,000 lost on trans-Atlantic RVs in one of the more damaging sessions in recent weeks. It remains to be seen if these losses will be arrested, continued or worsened as the week goes on, but for now it seems the market is very much swaying in favour of charterers until cargoes finally return to the spot market.
Trends remain lightly buoyant for Panamaxes with owners holding onto the slightest advantage in negotiations on Atlantic delivery freights. Trans-Atlantic RVs continue trading in the US$ 14-15,000 daily range with charterers seemingly willing to throw in the extra US$ 100 if absolutely necessary. Pacific-based business is steady if stagnant. NoPac rounds are flat at US$ 12,000 on 76,000 dwt as witness by a recent fixture open Zhoushan. Coal voyages have secured US$ 14.6/mt on 75,000mt Gladstone/Vizag.
Steady sailing for Handy bulk as the week begins with little change noted in either direction and principals that do secure business happy to accept last-done rather than argue the finer points. Trans-Atlantic trips are consistently fixing mid US$ 13,000s on 38-42,000 dwt vessels with US$ 14,000s common on the larger 52,000 dwt-and-up ships. Northbound trips from Southeast Asia into NoPac are still getting US$ 9,000s on 36,000 dwt, but some owners of 42,000 dwt ships report seeing US$ 10,000s.
For regular and exclusive updates from the shipbroking markets, subscribe to the BMTI Daily Report.