Thursday, November 26, 2009



Events that occurred this week confirmed our assessment in our last report that a market correction was on the books in the Atl as activity reduced quite dramatically from last Friday. The gap between owners and charterers became too wide and uncertainty started to creep slowly in: owners had to let go some steam. Nevertheless the market remains firm to stable. Rates back to FEast between usd 35-4...
The Pmax market kept stable from last week, with healthy numbers on all trades. BPI only fell USD 1000, with little shred of evidence in the physical market. Still a good flow of fresh cargoes in the Atlantic market emphasized the USD 37-38000 market throughout the week. Fronthauls declined only USD 2000, to arnd USD 44500. It was still sustainability in the Pac market, with rounds fixing more or ...
After rapid increases in rates over the past weeks, rates have been steady down in both basins so far this week. However, despite the Baltic dropping USD 2000 to 3000 daily in average, market levels are still much higher than expected. An Australia to China round is around USD 18 pmt. Rio Tinto rumoured having booked four ships today and the activity is healthy, despite a drop in rates from USD 25-26 level at the peak last week. Front haul is down at around USD 90,000/day on TC and low 40 on voy...


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