Capesize freight rates slide down

Capesize shipThe Capesize freight rates for transportation of iron ore from Australia to China started to slide down after the increase earlier this week. The decrease was caused by increased demand for mid-December laycan dates, when the spot deals were signed at 6.8-6.8 USD/ton, while the contracts for late December laycan dates were signed at lower rates of 6.0-6.1 USD/t. The average rates for charter contract of Capesize ore carrier (169,000-170,000 DWT) dely Zhoushan via Aus rebel South China has been concluded at 12,000 USD/day, while the rates to North China are 13,000 USD/day.

Meanwhile, the Panamax time-charted bss DOP dely North China via NOPAC dedel Spore-Japan is concluded at 7,000-8,000 USD/day, while the rates of Kamsarmax vessel charter for shipment on the above route are negotiated at 8,000-8,500 USD/day.

At the same time, the time-charter rates for Supramax carriers though North pacific remain stable despite of the limited demand and general slowdown of the Asia-Pacific market. The rates are supported by the continuing shortage of fleet for spot/prompt dates. Supramax vessels has been chartered at rates of 5,250 USD/day, mostly for steel transportation dely CJK redel Vietnam. The Ultramax time charter dely North China redel Med is quoted at 4,500 USD/day.