PANAMAX:

The PMAX market experienced a strong week on the back of a surge in the East Coast South American market. Fresh grain cargoes and shrivelled tonnage lists meant that some owners were able to command higher rates on a DOP basis. On an APS basis, KMAX ECSA to Sing-Japan range is at $11,500/day + $650,000. The North Atlantic enjoyed the spillover effects of the busy activity in the ECSA region and moved higher w-o-w. The Pacific basin rode on the positive sentiment of the Atlantic as well.  PMAX delivery CJK via Nopac redelivery Singapore-Japan range is at $9,250/day.

Demand for coking coal out of East Coast Australia to India remained firm w-o-w.  As South American business continued to attract owners in the East, supply of tonnage was tight. 'Long Dar' 2013 82265 dwt delivery Xingang 16 July trip via EC Australia redelivery India $9,050/day.  A 2010-built 80500 dwt fixed from Chiwan via east coast Australia to China at $10,000/day with shorter runs for average ships paying more.  Indonesian coal prices ticked up on the back of increased enquiries from Chinese end-users and low output at Indonesian mines due to a heavy monsoon in Southern Kalimantan. PMAX vessels on a DOP basis opening in South China heading from Indonesia to China were assessed at $9,250/day.  

SUPRAMAX:

A flurry of activity in the ECSA and US Gulf region ensured that the SMAX market strengthened w-o-w. 'Themistocles' 2014 55793 dwt delivery SW Pass prompt trip redelivery Brazil $11,500/day. On an APS basis, UMAX ECSA to Sing-Japan range is at $13,250/day + $325,000. Grain and clinker flows from the Black Sea remained steady. 'Theresa Selmer' 2006 55682 dwt delivery El Dekheila prompt trip via Izmir redelivery Dakar-Douala range intention clinker $9,350/day. With fresh new orders coming out of NOPAC, the market in the East remained active.  SMAX delivery CJK via NoPac redelivery Singapore – Japan range $8,250/day.

Nickel ore continued to be fixed. A SMAX on a DOP basis opening in North China heading from Philippines to China traded at $8,750/day. Active Coal trading out of Indonesia and Russia limited the supply of tonnage in the Far East and Southeast Asia region.  A SMAX vessel for coal on a DOP basis opening in the Singapore range heading from Indonesia to China rated at $7,750/day. Indian coal demand remained steady w-o-w. 'Densa Eagle ' 2010 55094 dwt delivery Ho Chi Minh 18/19 Jul trip via Indonesia redelivery India $9,000/day.

Limestone and Phosphate demand from the Persian Gulf to India continued to support the market in the Indian Ocean yet again.  A 63,000-dwt delivery Karachi was paid $12,500 daily for a trip via the Persian Gulf to east coast India. Although rates for trips within the Indian Ocean were highly lucrative, owners still preferred to ballast to ECSA. As a result, the impact of weak coal flows out of RBCT into India/Pakistan was nullified. SMAX vessels on a DOP basis opening in ECI/WCI for the RBCT to India coal route are at $6,500/day.