By Keith Wallis

SINGAPORE, Jan 19 (Reuters)– Freight prices for huge capesize completely dry freight ships on trick Asian courses might hold stable or slide somewhat following week after suddenly climbing today on solid freight quantities, ship brokers stated.

“It is a case of two oceans. In the Atlantic, Vale has been active from Brazil, and volumes from Saldanha Bay in South Africa are steady,” stated a Singapore- based capesize broker on Thursday.

“In the Pacific, it’s a waiting game with owners and charterers haggling over a 50 cent difference in the freight rate,” the broker included.

This took place as capesize products prices on the Brazil- to-China course on Wednesday struck the highest degree considering that September 2015 for the 2nd time this year complying with a rise in components.

Globally, there were 42 capesize place charters in the week to Wednesday, compared to around 20-25 a week in December, hiring information on the Reuters Eikon incurable revealed.

“Rates may tail off a little before Chinese New Year on Jan. 28,” the broker stated.

However, products prices might hold about the existing degrees or perhaps climb as they in some cases have in the previous years as charterers stay energetic in spite of the vacation, a Shanghai- based capesize broker stated.

“The market is good, especially from Brazil where rates are at the $16,000-per-day level,” the Shanghai broker included. Rates for the Colombia- to-Asia course are greater at $19,000-$ 20,000 each day.

“Rate levels from Brazil have strengthened as a sudden urge for prompt tonnage have cleaned out most of ballasters (empty vessels),” Norwegian ship broker Fearnley stated in a note on Wednesday.

An casual broker’s survey of 9 ship brokers and also proprietors on Thursday projection day-to-day capesize incomes of $8,500-$ 10,000 each day in the initial quarter this year.

That compared to typical incomes of $4,100 each day in the initial quarter in 2015, information from delivering solutions company Clarkson mentioned.

An continuous traffic of around 300 capesize and also panamax vessels in China’s Bohai Bay has actually aided tighten up the quantity of readily available tonnage and also interrupted future cruising timetables.

Charter prices from Western Australia to China climbed to $5.87 per tonne on Wednesday, up from $5.37 per tonne recently.

Freight prices for the course from Brazil to China rose to $14.07 per tonne on Wednesday, the greatest considering that September 28, 2015, from 12.03 per tonne recently.

Charter prices for smaller sized panamax vessels for a north Pacific round-trip trip slid to $5,673 each day on Wednesday versus $5,738 each day a week previously as the variety of vacant ships exceeded freight quantities, brokers stated.

Rates in the Far East for supramax vessels continued to be stable at concerning recently’s degrees with charterers paying around $3,000 each day for ships from north China to southeast Asia, brokers stated.

The Baltic Exchange’s major sea products index reached 952 on Wednesday from 894 recently. (Reporting by Keith Wallis; Editing by Sherry Jacob-Phillips)

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