Shipping News - Dry Trade

CAPESIZE: As expected the end of last week was quiet due to the Easter Holidays. This working week started flat, but a flurry of activity on the Pacific drove the rates back up to the upper usd 7.00 mark for West Australia/China. Activity on front haul has been limited but a fixture has been reported at a usd 19.80 for Brazil/China which is a welcome rise on this route. Period has been dominated by owners re-fixing vessels prematurely redelivered off long Charters, thus pushing the level for 12 months down to usd 12k's. Longer term charters have been concluded on 206kdwt vessels at usd 20k for 5 years. The Atlantic market remains very quiet despite low coal stocks on the Continent. The index has remained largely flat but with a slight positive trend. PANAMAX: The Panamax market have been oversupplied with tonnage both in the Atlantic and the Pacific lately, although activity picked up towards end of last week and cleared out some of the tonnage overhang. The market remained nervous early this week as well, as most of Europe came back form Easter holidays. Rates in Atlantic remained more or less the same with TA's around USD 10-12k, and fronthauls fixed in the USD 20k region. The Far East remained over-tonnaged with rates around 8-10k, but mid week activity and rates indicated signs of some recovery. Period business vague but all the way down to mid 12 for 4-6. The FFA market traded stronger and volumes fair.