Pressure has been notable on Supramax spot freights over the past week even as trends have not been as uniformly deflationary as in other markets with average inter-Pacific rates losing around US$ 500 week-on-week. Current NoPac rounds for 58,000 dwt ships, for instance, are now trading within the high US$ 10,000s daily range in contrast to the lower US$ 11,000s as seen a week earlier during the most recent course correction. Short period deals on Ultramax vessels are still looking rather robust with 3-5 months being secured in excess of US$ 16,500 daily.
Corrections have been evident within the eastern basin Handysizes with Pacific rounds on tonnage of 38-42,000 dwt having moved downward from the upper US$ 9,000s into the lower US$ 9,000s over the past week period. Shipowners do say that they expect to see some firming in demand going into the year-end holiday period.
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