Despite the collapsing rate trend in some Capesize routes—notably the front hauls, which have drifted into the US$ 19,000s—there are signs of life in the Pacific giving owners hope for May. Aussie voyages hover at around US$ 4.1/mt, but with the slightest upside suggesting that US$ 4.2/mt and higher may well be obtainable for early-mid May dates. Time charter fixtures have also been emerging with upwards of US$ 7,000 daily just secured by relet from China and back via E.Australia on a 177,544 dwt.
Southeast Asia is the new up-and-comer for eastern Panamaxes with a fresh wave of activity from the area remarked upon by brokers with Kamsarmaxes fetching decent rates over US$ 5,000 daily on CJK redelivery. Trends remain none too owner-friendly, but with emergent signals that the current bottom of the cycle might have been reached, there is reason to expect some reversal in fortune going forward into the new month. Standard tonnage NoPac rounds are hovering in the US$ 5,000s, though more than a few owners have already started pursuing US$ 6,000s.
Handy bulk remains nothing to write home about, but there are green shoots of growth in both hemispheres hinting at potential recovery sometime next week. Indonesia, as with the Panamaxes, is starting to pull more interest from charterers with tonnage getting drawn down slightly from last week across the SE Asia routes. Indo rounds remain at low levels with upside potential currently looking very strong.
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