While not nearly as astronomical as the Capesizes, Panamaxes have been making solid and steady gains all week with a similar US$ 200-400 day-on-day incline, taking TARVs up beyond US$ 12,000 daily even as charters continue to quibble about the particulars. The ECSA front hauls are concluding steady DOP rates in the US$ 8,500-9,000 vicinity with talk of US$ 9,500 daily already on the books. Indonesia mineral rounds are getting higher than US$ 8,000 daily, which exceeds even the index levels of US$ 7,500-8,000 daily currently being reported. Short period chartering is going strong as well with several 4-6 month deals being fixed at over US$ 8,000 daily.
It's been a good week for dry bulk, at least trendwise, with quite some ways to go before owners will be willing to call it a truly bullish market, but seldom have we seen this year so far a period of uniform improvement. Handy bulk rates continue climbing, sometimes at even greater magnitudes than their larger brethren, as the trans-Atlantic Supra trip from USG to UKC moves from US$ 14,000 to the US$ 15,000 daily range, the sort of day-on-day jump not seen in quite a while. Australian rounds are giving Handysizes nearly US$8,000 daily, brokers confirm. www.bmti-report.com