Pacific Capesize market busy, Atlantic basin lackluster

摘要

Singapore—A busy Pacific market on the Capesize ships was witnessed Sept. 15, with the freight rates moving sideways while the Atlantic side was muted during Asian trading hours. “The market has actually been fairly active and I heard a lot of fixing on west Australia to Qingdao route, but the rates haven't really moved,” a shipbroker said. On the paper segment, the freight forward agreement market inched down, which clouded the sentiment on physical trading activities. Paper is moving sentimentally because market is undervalued, against strong expectation, a Capesize ship-owning source said. Though the spread of TCE return between Pacific trips and Brazil round trips has been narrowed, market players advised that owners seem prefer to keep ships in Pacific.