Bulker Shipbroking Overview (24 July 2019)

panamaxAs almost anticipated the Capesizes have turned negative, with the TCA down by 885 to 32,078. All routes declined with the trans-Pacific rounds losing most with more than US$ 1,000 and hardly be able to reach the US$ 30,000 daily mark. Even the wild card, the Brazilian to China voyages are sliding and have dropped already more than US$ 1/mt from the peak seen recently.

For the Panamaxes the amount of fresh enquiries has slowed down a bit although the spot freight rates continue to increase. Ore shipments from Northern Australia keep coming at spot freight rates in the high US$ 15,000s daily on 90,000dwt tonnage towards Singapore-Japan range. Trans-Atlantic rounds can be quoted for young tonnage of 80-2,000 dwt at some US$ 23,000 per day.

Business is not very abundant for the smaller sizes at the moment but coming steady into the market. Young Tess 58 tonnage is talked in a range of US$ 10,000 daily for a trans-Atlantic round trip when open mid China. Indonesian rounds can be quoted at a similar level on same tonnage with delivery in Southern China. Fertilizer shipments of 60-65,000mt can see rates of some US$ 42-44/mt loading US Gulf and redelivery WC India compared to about US$ 38-40/mt seen before. Handies of 28-30,000dwt are rated in a range of US$ 7-7,250 daily for a trip from EC India and redelivery SE Asia.

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