Nov. 5 Daily Dry Bulk Comment

2013-11-06

A moderate amount of dry bulk vessels were chartered in the spot market again today. Steady spot chartering activity over the last several days has culminated in rates for all four vessel classes finding support today. Capesize rates, in particular, have continued to find a large amount support as a firm amount of iron ore cargoes have continued to surface in the spot market. Supramax and handysize rates have also continued to find a small amount of support on strength of firm mineral cargo trade. Panamax rates finally increased today due in large part to a recent increase in thermal coal cargoes surfacing in the spot market. Demand for spot thermal coal cargoes is increasing as Northern Hemisphere peak winter electricity demand season is fast approaching.

Source from : CNSS

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