Capesize (Atlantic and Pacific)
The market is increasing since end of last week, the closure saw BCI index at 3306, i.e. +156 points. The average raise on the 4 main T/C routes is $2,136. Most of all the Atlantic is suffering for the lacking of prompt positions: Tubara/Rotterdam and Bolivar/Rotterdam gained half a dollar and
Brazil/
Far East region reached $45,000.
Panamax (Atlantic and Pacific)
Even with forward tonnage largely available for next month, the Atlantic market continues its upward trend supported by the good rates paid especially for the early vessels and trip from Atlantic to
Far East. The Pacific is still experiencing a very active moment and improvement of rates on all routes. Pacific round voyage rates have increased daily for prompt positions and are now in excess of $21,000 daily with trips to the Atlantic at $20,000. Charterers, once again have turned their attention to short period to cover their requirements and owners are taking good advantage of this. Rates for 3/5 or 4/6 months quickly jumped from the initial $19.000 to the actual $21.500 or even more. The major Japanese and Korean charterers have also been very active with short-haul business from
Indonesia and
Australia. There are indeed no signs of decrease of rates because of the summer.
Handy (Far East/Pacific)
The holiday in
Korea on Tuesday didn't bring any disruption to the general activity which showed that the softening seen last week was just a momentum and now market is back to its full steam, with some routes improving further. Handymaxes are now paid over $22,000 for cement trips from
China to the US Gulf, until 7-10 days ago this was the rate for 53-55,000 tons. Trips to
Europe are similarly expensive for charterers and a lot of fresh period interest is going on. Besides reported fixtures there are strong rumors about 48,000 tons having achieve a rate in the very high teens for 12 months charter.
Handy (North Europe/Mediterranean)
The Continental market, mostly lead by
scrap cargoes has shown further improved rates with Handymaxes now easily achieving $17-18,000 daily for trips to the East Mediterranean. The lack of business for Supramax sized tonnage is so far preventing rates to grow up faster. Similar levels are now achievable for trips from Black Sea to
Middle East but stems for direction
Singapore/
Japan where owners would concede discounted rates, are still not available. A lager chartering interest to the US Atlantic Coast still showed smaller sized fixtures at low money.
Handy (US/N. Atlantic/Lakes/S. America)
South America is active enough, mostly on transatlantic trade with a minor portion of requirements to
Middle East. Reported fixtures are missing and tonnage available on the coast is lacking, owners play the strong game turning down aps delivery, so tonnage is fixed on dop
Gibraltar or West
Africa and agreed rates are proportionally higher. The US Gulf keeps growing firmer, as well mostly involved with transatlantic business. At the end of the week a 45,000 toner was rumored having been fixed basis delivery
Gibraltar area for a trip via us gulf back to
Europe at $17,000. Some
scrap activity is going on from us Atlantic to
Far East but the voyage rates available are not good enough to attract ballasters.
Handy (Indian Ocean/South Africa)
Iron ore chartering activity remained very limited with lower rates agreed but South African market brought a reasonable balance to this market area with a couple of quite standard handysizes achieving interesting money for business back to
Europe.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it