Capesize (Atlantic and Pacific)
Very few activity in the market of Capesize ships with BHP and Vale reporting fixing few iron ore cargoes from West Australia and Brazil to China. The Baltic Capesize Index (BCI) lost only 124 points, the 4 T/c routes lost Usd 1,594 with the Pacific Index, West Australia to China, sliding of only about 30/35 cents to reach Usd 7.89 and the Brazil/China having lost about the same ending at Usd 21.09. Rio Tinto remained absent from the market having suffered logistical problem after heavy rains having flooded mines and railways.
Very few fixtures reported for period except one 176,000 dwt allegedly done for 4/6 months at about $ 30,000 daily by a far eastern major player.
Panamax (Atlantic and Pacific)
A very good week with both basin markets showed ''heavy'' improvements. In Atlantic grain market charterers faced with a very tight tonnage supply, which made them look to the East tonnage either on rounds or back to the Feast or short durations: this had a very good impact in the Feast market which had been expected to slip this week. Short period rates in the East were near or at $16,000 daily with single trip numbers at similar levels for ships coming from China. In the Atlantic tonnage remained extremely tight in the North with charterers looking to take tonnage for US Gulf and North Brazil, and the Black Sea cargoes faced with rising numbers. A 15-year old 83,000-tonner obo achieved $33,000 daily for a trip from Port Said via the Black Sea to China. Period market was also moving up with rates at usd 2000/3000 more than 2 weeks ago.
Handy (Far East/Pacific)
The slow start of the week's activity afterwards turned into a more optimistic scenario for owners. Rate levels were still far from what could be achieved in the Atlantic, but an increased demand for tonnage attracted charterers to revise their evaluations upward and lead to a number of local trip Handymax/Supramax fixtures concluded at firmer levels. Handysizes appeared to benefit even more from this improvement. Backhaul business kept paying lower levels but better than the previous ones, and will still allow owners to benefit from the firm Atlantic rates afterwards.
Handy (North Europe/Mediterranean)
Fresh enquiry to load scrap from the Continent to the East Mediterranean and Middle East kept this area active and quite healthy for owners. The lack of available tonnage put charterers in a need of taking tonnage available in the Mediterranean and West Africa regions. The Black Sea market kept showing strong rates agreed for Middle and Far East direction, with rates for positioning cargoes to other Atlantic areas showing some improvement as well. Good rates were also available for Handysizes entertaining short period deals.
Handy (USA/N.Atlantic/Lakes/S.America)
The South American market stayed quite active showing strong rates agreed both for going east and trans-Atlantic rounds, with tonnage taken on delivery from West Africa and the Western Europe. A couple of units were fixed even basis delivery Indian Ocean at proportionally healthy rates. There were also good activity out of the USG with stronger rates agreed for trips to the East and firm rate seen paid on trans-Atlantic. A good volume of period interest was also going on.
Handy (Indian Ocean/South Africa)
The India/China iron ore trade was a bit at a standstill with very few fixtures reported at less exciting rate. Some Handy-size fixing interest went on from South Africa with acceptable enough rates paid by charterers. Generally the chartering interest from this area was little.
Banchero Costa and Co Spa
Mail: research@bancosta.it
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