Coal news and updates

Dry Bulk Market failed to offer any positive surprises-Intermodal

This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring below 600 points, hardly moved compared to the week prior.

According to Intermodal broker, the smaller size segments once more outperformed the market, while on the period front we saw slightly improved enquiry across all size segments. The summer season is not kicking off with too much promise for a positive reversal in the market and despite the fact that there has been a lot of talk in regards to China’s iron ore inventories, with reports seeing opportunity for Capesize rates, we still maintain the view that a more dramatic fall in Chinese iron ore stockpiles needs to take place before we start talking about changing fundamentals for the segment.

The intermodal further noted that, the Capesize market moved sideways last week, with both the spot and the period market seeing improved levels of activity, but rates seemed stuck around last dones, with no significant improvements being noted as the market slid into the weekend and holidays taking place as this week kicked off slowing down things further.

Commenting on Panamax, the broker of Intermodal, a Greece based ship broker said that, the Panamax market remained very quiet last week with rates moving downwards across both basins, while fresh orders from the ECSA during the second half of the week managed to improve sentiment just before the week came to a close.

The Atlantic Handysize/ Handymax/ Supramax business was moving side-ways last week, with certain owners becoming a bit more optimistic on the back of fresh enquiry out of the USG, while the positive sentiment was also supported by some decent fixtures reported in the Far East, Intermodal commented on smaller segments vessels.

source: http://www.coalspot.com