Panamax/Kamsarmax market continues on negative mode in USG/USEC, with rates falling on all routes

The USG/USEC Panamax/Kamsarmax market has come under significant pressure amid tonnage oversupply and insufficient number of fresh stems to support T/A and F/H rates:

• Kamsarmax time-charter rates bss TARV are hovering at $12-13k daily;
• A Kamsarmax ship has been chartered at $11.5k daily bss dely Gibraltar via USG redel Continent;
• The deal for a Panamax vessel bss dely Med via USEC redel Med is discussed at $11-12k daily;
• Transportation of 70,000 t of coal from USG to ARA with spot laycans may cost $15-16/t, which is equivalent to $11-12k daily bss dely Gibraltar;
• The contract for shipment of 80,000 t of iron ore from Canada to Rotterdam has been signed at $11.25/t, which is equivalent to $10.5k daily bss dely Gibraltar;
• The deal for transportation of a Panamax lot of grains from USG to Egypt is discussed at low-mid $30s/t.

• The deal for a Kamsarmax vessel bss dely Gibraltar via USEC redel China has been signed at $24.5k daily;
• The contract for an 82k dwt carrier bss dely Gibraltar via USG redel China has been signed at $23k daily;
• Transportation of 66,000 t of grains from USG to China with 1H September laycans is negotiated at $56-58/t;
• A 75,000 t lot of coal has been fixed from Newport News to ECI at $41.5/t.