Capesize freights look like they might already be getting re-energized a la last week with front hauls swiftly returning to the psychologically powerful US$ 50,000 daily line and Pacific RVs bounding over US$ 26,000 daily. Trans-Atlantic RVs are still moving sideways in the US$ 21,000s, but owners say they expect things to start recovering there as well if the jump in front hauls is any indication of things to come. China/Brazil RV freights are also holding to unchanged levels in the US$ 25,000s.
Panamaxes may be putting on the brakes for the time being with the once high-flying Atlantic rates losing steam to stick to last-done levels of US$ 16,000 daily on TARV and US$ 28,500 daily on FH (basis 82,000 dwt). The ECSA is still providing a solid volume of new cargoes, but there seems to be a re-balancing in cargo demand with open tonnage afoot, which would reduce the continued upside on any potential rate gains. Pacific RVs have also stayed in neutral mode with US$ 16,000s as last-done.
Ultramaxes are shining in the Black Sea with front hauls from the area moving into the US$ 24,000s (compared to the US$ 22,000s available on Supramax tonnage). USG front hauls, meanwhile, seem to have reached a ceiling for now with Ultras not able to pushing beyond US$ 29,000 daily for tonnage of 63,500 dwt and more than likely to already be accepting US$ 28,000s when pushed. NoPac rounds are also maintaining some impressive stability with last-done rate levels still not budging from the US$ 15,000s, where they’ve been for over a week now.
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