Thursday, 02 August 2012 | 00:00
The dry bulk market kept on its downward path Wednesday, as the
BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12
percent to 878 points yesterday, with the biggest losses occuring in the Panamax
segment. Panamaxes lost 2.85Percent, ending the session down to 954 points, with
average daily earnings for the vessels ending at $7,612. The capesize index was
down 1.09 percent at 1,181 points, with average daily earnings for capesizes,
down $192 at $4,358.
According to its latest weekly report, shipbroker Fearnleys commented on the Panamax market by mentioning that it was “yet another quiet week in both hemispheres and rates continue to decline as the tonnage list is growing. There seems to be little hope for change in the coming weeks as fresh business is scarce. The Atlantic market has been more or less inactive with very little transatlantic business being reported. There has been talk of a rail strike in Colombia and business out of S.America and USG has been limited, resulting in the furtherance of the negative movement the last weeks. Baltic rounds have reportedly been done at USD 7500 daily, and charterers are willing to pay high 8000´s for a good vessel for a couple of legs with Atlantic redelivery. Fronthaul was limited as well, but one vessel was fixed with delivery Liverpool for a trip via USEC to India at 17,250 daily. For ECSA/FEast USD 14k+USD 400k was reported. In the Pacific there has also been little activity and owners agree to let their ships go at around USD 8-8250 daily for Nopac RV´s. Aussie/China is fixing around 8500, and Aussie/I”, the shipbroker noted.
The dry bulk market kept on its downward path Wednesday, as the
BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12
percent to 878 points yesterday, with the biggest losses occuring in the Panamax
segment. Panamaxes lost 2.85Percent, ending the session down to 954 points, with
average daily earnings for the vessels ending at $7,612. The capesize index was
down 1.09 percent at 1,181 points, with average daily earnings for capesizes,
down $192 at $4,358. According to its latest weekly report, shipbroker Fearnleys commented on the Panamax market by mentioning that it was “yet another quiet week in both hemispheres and rates continue to decline as the tonnage list is growing. There seems to be little hope for change in the coming weeks as fresh business is scarce. The Atlantic market has been more or less inactive with very little transatlantic business being reported. There has been talk of a rail strike in Colombia and business out of S.America and USG has been limited, resulting in the furtherance of the negative movement the last weeks. Baltic rounds have reportedly been done at USD 7500 daily, and charterers are willing to pay high 8000´s for a good vessel for a couple of legs with Atlantic redelivery. Fronthaul was limited as well, but one vessel was fixed with delivery Liverpool for a trip via USEC to India at 17,250 daily. For ECSA/FEast USD 14k+USD 400k was reported. In the Pacific there has also been little activity and owners agree to let their ships go at around USD 8-8250 daily for Nopac RV´s. Aussie/China is fixing around 8500, and Aussie/I”, the shipbroker noted.
