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Panamax coal freight rates lose steam as fixture activity weakens
in-en.com  2013-4-30 22:45:47  

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Panamax coal freight rates on established routes from South Africa's Richards Bay and Indonesia to India edged down Friday as a weakening of fixture activity in the Atlantic basin failed to lend support, sources said.

"In the Atlantic, the number of fresh requirements is limited and the number of ballasters heading for ECSA [east coast of South America] demand more cargoes to avoid a further slide," broker Fearnleys said in its weekly note on Wednesday.

"Some increased activity from the Baltic after cold winter is not enough to give any boost -- so far," the broker said, adding that the market in both hemispheres seemed to be weakening.

There are a few cargoes available from Indonesia to India for Panamax vessels, but Richards Bay to India is largely inactive, a Singapore-based source said.

Author:in-en.com  From:platts.com  Edit:cherry
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