Capesize (Atlantic and Pacific)
Last week has gone by without any particular excitement given the Easter holidays slowing down most western nations. The market obviously been softening the whole week long closing with a slight drop of 98 points; also the average of the 4 TC routes declined by $1,140. There should be an albeit slow pick up in activity from Tuesday onwards although all major market players agree that no significant changed should take place until the new ore price will be decided; shall it be in early May?
Panamax (Atlantic and Pacific)
The market remained fairly steady during this shortened week with only marginal gains on the Baltic indices. A number of pre-Easter fixtures were reported but with very little change in the actual rate levels. Trips via ECSA still remained the dominating force with the rates for
Far East redelivery in the region of $19,000-19,500/day and
Middle East redelivery. On the period front, Chinese charterers were reported to have taken a vessel for 12 months at a $17,500/day. In the Pacific, there has been little change over the week. Backhauls have been concluded at $16,500/day and short rounds at $17,500/day and levels still trend to go down with sign. The overall sentiment on
freight was reflected in more tonnage being taken for 4/6 month periods, delivery
Far East at levels between the 16.500 and 17,500/day.
Handy (Far East/Pacific)
Market remained generally healthy for handymax owners. The loss suffered by panamax size couldn't affect much owners of supramax tonnage due to majority of business requiring craned and/or grab fitted tonnage. Period interest for up to 12 months employment is still quite alive with agreed rates increasing and charterers need consider very high levels to attract owners into trips from
Far East to the US Gulf. Just before the Easter holidays charterers have been caught by a fixing rush on their April requirements and although Reported fixtures are not available yet some deals are rumoured of having been concluded at very healthy rates.
Handy (North Europe/Mediterranean)
The Continent remains quite awkward for owners, apparently a little more business was quoted but charts temporize their fixing and tonnage runs spot. Volume of enquiry from the Black Sea is again volatile and charterers for the few requirements available just try to squeeze their rates down. Much better money is being paid for business to the US Gulf just because owners try avoid end up in an area which still remains pretty much lousy.
Handy (US/N. Atlantic/Lakes/S. America)
There is still surplus of tonnage in the US Gulf in combination with a poor chartering activity. Owners try fix short duration local business to kill some time hoping for a better market to come. Good enough activity remains for loading out of
South America where obtainable rates are considerably better.
Handy (Indian Ocean/South Africa)
Indian
iron ore export activity grew up again with rates slowly climbing up on a daily basis upto a $30,000 daily timecharter level paid so a fancy supramax on a short coastal trade. South African market showed more activity around handysizes, but rates seem to suffer a little softening.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it