Even if daily gains have arguably eased from their gigantic US$ 5,000 improvements of days past, the Capesize freights remain very well positioned for the week ahead as charterers consent to all but the most absurdly increased premiums on long hauls. Front hauls are just below US$ 50,000 on modern tonnage with owners set to move that market before the week is through. Brazil/China voyage business is benefiting from the bulls, now at circa US$ 26.5/mt. Sentiment remains strongly on the side of Panamax owners, though some charterers are heard to be putting up more resistance now than they were a week ago. Nonetheless, rates are widely ascendant with scarcely a down-note to be heard on the spot market. TARV rates are still flying to new highs day-by-day with US$ 30,000 likely to be reached on Kamsarmax tonnage by midweek (considering rate trends). Pac rounds are also trading just below US$ 30,000 with some owners already professing to see that level.

There is no arguing against the continued strength of the Supramax market with USG front hauls surging unabated, currently in the US$ 38,000s but expected to reach US$ 40,000 in the week ahead. Black Sea front hauls are still trying to catch up with the bulls as US$ 34,000 daily is seen as last-done on South Korea redelivery (basis 58,000 dwt). The Indonesia rounds are trading convincingly higher over last-done with US$ 26,000 daily on South China redel.

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