Dry bulk shipping market makes corrections

Capesize

Meanwhile, more coal cargoes from East Australia to China were fixed on time charter trips according to report. Brazil to Qingdao had an active week for both first and second half of August loading. C3 stopped drifting for a day but that was not sufficient to cover the retreat felt throughout the week. The north Atlantic felt under pressure in general, transatlantic and fronthaul runs were marked at US$25 750 and US$55 188, respectively.

Panamax

Sentiment in the South Atlantic began to decline for the middle of August liftings below the current prompt levels a 76 000 DWT was rumoured to have fixed basis delivery EC South America on the 13 August for a front haul requirement at US$17 000 plus a US$700 000 ballast bonus, whilst 80 000 DWT vessel fixed with prompt dates passing Singapore via EC South America to Singapore-Japan at US$15 750 against a mid-August delivery was placed on subjects basis delivery passing. Activity in Asia was also said to be improving, but levels had so far remained balanced with an 84 000 DWT fixing from Kinuura with prompt dates via Eastern Australia to South China at US$15 000; whilst an 81 000 DWT fixed from Lanshan via Nopac to China at US$15 250 earlier in the week. Period activity was also visible with an 81 000 DWT fixing basis delivery in Kaohsiung with prompt dates for five to eight months at US$16 500 and a 76 000 DWT rumoured to have been placed on subjects basis delivery CJK for five to seven months in the upper US$14 000’s.

Ultramax/supramax

With the Atlantic in summer holiday mode, it remained a rather positional market. Sentiment from the US Gulf was mixed, as brokers saw a slight weakening of fronthaul rates whilst trans-Atlantic runs remained fairly firm. A 63 000 DWT fixing delivery US Gulf for a trip to Finland in the low US$26 000s. The Continent – Mediterranean lacked much fresh impetus with 63 000 DWT vessels seeing in the US$11 000s for Mediterranean backhauls to US. The South Atlantic remained fairly active although rates for ultramax size hovered around the mid to low US$16 000s plus low to mid US$600 000s ballast bonus. From Asia, brokers said that there remained ample tonnage supply although there were still some reasonable levels achieved. A 61 000 DWT open Anyer fixed a trip via Indonesia redelivery South China at US$19 000. The Indian Ocean lacked fresh enquiry keeping a downward trend some said. Period activity remained rather muted, but a 63 000 DWT open Indian Ocean fixed for 3/5 months trading redelivery worldwide at US$14 500.

Handysize

A week of minimal visible activity across both basins in the handy sector. In the Atlantic, a general lack of fresh cargo enquiry which added pressure to the market. Positivity continued across the South Atlantic with a 43 000 DWT rumoured to be on subjects basis delivery WWR Upriver for early August to West Coast South America intention Ecuador at US$27 500, whilst a 37 000 DWT was fixed delivery South Brazil trip to Continent at $17,000. With continued improvement, gains were also seen in the US Gulf region this week with 33 000 DWT fixing from Camden via the US East Coast to Tukey with an intended cargo of Scrap at US$17 000. Asia experienced a generally balanced week with backhaul demand and owners’ resistance to fix ships for backhaul trips which has some positive impact on the implied rates for the routes, but numbers had remained steady as the week progressed.

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