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Eagle Bulk Shipping Inc. Message Board

  • tencjedd tencjedd May 22, 2012 4:41 AM Flag

    Pacific Supramax Market turning sharply lower

    (Clarksons Singapore Daily Report)


    Downward trend continues as vessels rating numbers that were fixing at the end of last week remain in the market. It is now very much an APS market with owners succumbing to charterers low levels and all rating APS. We have seen a diamond 53 rating at 8k +100k spot in Indonesia. Have seen charterers rating her at 7k+40k levels. An oversupply of prompt tonnage in SEASIA combined with a lack of prompt orders is allowing charterers to push for these very low rates. Have also seen owners rating a larger Japanese built smax open in SEASIA at 8+80k bb APS for Indo/Thai. Although relatively low the speriod market remains the same as last week for smaxes rating between 10-11k levels.

4.48-0.20(-4.27%)Oct 21 3:59 PMEDT