Pacific Capesizes seem to be splitting away from their Atlantic counterparts as eastern-based freights are looking altogether more positive while the western rates remain in free-fall. West Australian voyages to China are turning around, moving from the US$ 6.5/mt area toward US$ 6.7/mt at midweek and suggesting further improvements based on current sentiment. Likewise, trans-Pacific RVs are some US$ 600 higher than the previous session to close in the middle US$ 13,000s area. Improving interest in late month dates in the East is prompting a minor upward correction in Pacific rates (even if it is not an all-out recovery). Front haul time charters, meanwhile, continue to plummet, losing some US$ 1,500 to slide to US$ 24,000 on the assessment (likely to suffer further losses before the week is through).
The good times keep on rolling for the recovering Panamaxes with very substantial improvements and accelerating gains across the board. Trans-Atlantic RV rates are most buoyant with high US$ 12,000s going to mid US$ 13,000s in the space of 24 hours (basis 82,000 dwt tonnage). TARVs for standard 76,000 dwt vessels are trading in the US$ 12,000s and likely to hit the US$ 13,000s as well very soon.
Prospects are brightening for the Handy bulk crowd. ECSA-to-UKC Handysize rates jumped nearly US$ 500 at midweek (on 38,000 dwt) to hit US$ 12,000 daily and likely US$ 13,000 by week’s end. Supramax rates are improving in both hemispheres with only the Black Sea front haul left to find positive traction (itself holding steady at about US$ 18,000). Indo rounds are moving quickly toward US$ 9,000.
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