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Shipping News - Dry Trade - Pakistan & Gulf Economist

By Pakistan & Gulf Economist

Release Date: 2010-10-24

Genre: Economics

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CAPESIZE: This segment keeps showing strength on the back of Chinese stock-building combined with limited tonnage availability, in Atlantic in particular. With pacific pretty much remaining the sole provider of early tonnage for both basins, levels obtained for transatlantic and north Atlantic business soar. Fronthual rates are approaching USD 70k, up some 16% w-o-w, whilst Pacific rounds are stable at just below USD 40k. Paper is supporting period activity to a certain extent, so far this week resulting in a handful of standard BCI units done for short periods in the region of USD 33,500-34,500/day. Longer periods of 11-13 mos have been concluded twice, last on 180,000 dwt/built 2010 ex yard October at USD 31,500. Judging from the considerable number of tonnage providers looking to secure period employment, the most common forward market view appears to include a discount to present levels. PANAMAX: Lack of fresh requirements gave charts possibility to pick and choose of tonnage, especially in USG and Med. On the Cont it was more balanced with vessel/cargo. The TA market dropped slightly, arnd USD 500 from last week. Fixing in the USD 18,500 range. In the Pacific the supply of spot tonnage has increased and little fresh requirement seen. Pac rounds fixing around USD 18,000. Fronthaul and backhaul kept stable at respectively USD 28,000 / USD 10,000. Period market has gone silent as sentiment turned more bearish and FFA market traded down although on low volumes onwards.

Shipping News - Dry Trade - Pakistan & Gulf Economist

By Pakistan & Gulf Economist

Release Date: 2010-10-24

Genre: Economics

(0 ratings)
Read Download
CAPESIZE: This segment keeps showing strength on the back of Chinese stock-building combined with limited tonnage availability, in Atlantic in particular. With pacific pretty much remaining the sole provider of early tonnage for both basins, levels obtained for transatlantic and north Atlantic business soar. Fronthual rates are approaching USD 70k, up some 16% w-o-w, whilst Pacific rounds are stable at just below USD 40k. Paper is supporting period activity to a certain extent, so far this week resulting in a handful of standard BCI units done for short periods in the region of USD 33,500-34,500/day. Longer periods of 11-13 mos have been concluded twice, last on 180,000 dwt/built 2010 ex yard October at USD 31,500. Judging from the considerable number of tonnage providers looking to secure period employment, the most common forward market view appears to include a discount to present levels. PANAMAX: Lack of fresh requirements gave charts possibility to pick and choose of tonnage, especially in USG and Med. On the Cont it was more balanced with vessel/cargo. The TA market dropped slightly, arnd USD 500 from last week. Fixing in the USD 18,500 range. In the Pacific the supply of spot tonnage has increased and little fresh requirement seen. Pac rounds fixing around USD 18,000. Fronthaul and backhaul kept stable at respectively USD 28,000 / USD 10,000. Period market has gone silent as sentiment turned more bearish and FFA market traded down although on low volumes onwards.

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