Capesize (Atlantic and Pacific)
Market continued his exceptional increase getting stronger rates basically in all areas: in Atlantic was very strong and reaching levels for rounds well above $100,000's, while in Far East is running close to $80,000. Iron ore from Brazil to China is currently at about $45's which means a t/c equivalent of about $116/117,000 daily. Backhaul cargoes from Australia or Richards Bay to Continent were giving an equivalent of up to about $65.000 levels. The average rate of the 4 Capesize T/c routes (T/a rounds + Fronthauls + Pacific rounds + Backhauls) at last Friday ended at $90,530. Period was also very active with 3/5 months or 4/6 months being paid about low $70,000's and coal from Richards bay is currently running at around $24.00 levels.
Panamax (Atlantic and Pacific)
Panamax market is still showing new gains both in the Atlantic and in the Pacific basins. Sources reported that owners are firming their rates as fresh inquiry and the possibility of some Capesizes splits give to the market optimistic feel. Also period inquiries are pushing and keeping this sentiment. A transatlantic round voyage earned $43,000 while Far East redelivery $45,000; in Pacific Australia round are over 40,000 while NoPac round is earning high $30,000s.
Handy (Far East/Pacific)
The excess of available April tonnage combined with a momentarily slowdown in the chartering activity start showing some concluded deals agreed at lower levels but the trend went back to firmer levels so rapidly to avoid any real worries to start. Handymaxes and Supramaxes stared the week very firm achieving $40,000 daily for local trip and $36,000 for short period. On the spot a Supramax got $39,000 daily for a trip from Far East into India, which considering that on the afterwards trip back she would get something around $37/38,000, shows this area back to fully healthy for the owners.
Handy (North Europe/Mediterranean)
Scrap charterers involved with shipments from the Continent into the East Med gave another push up to the rates both for Handysizes and Supramaxes, with 52,000 tonner reported fixed for this trade at an excellent $45,000 daily. Activity from Mediterranean and Black Sea remains more irregular, but the few reported fixtures saw respectable levels agreed.
Handy (USA/N.Atlantic/Lakes/S.America)
The trend in these areas showed a lot of analogies with the Pacific market. A firm week start showed a small Handymax to Med getting $40,000 basis delivery US Gulf and well above this level for a larger unity on same delivery for a trip into the Indian Ocean. Weaker rates are afterwards fixed for trips to Far East and transatlantic chartering met a little standby. On Friday, together with a fresh flow of enquiry it was rumored that a large modern one was booked at high $40,000's for a trip to Europe. South America kept a bit more stable with general surface atmosphere of nobody needing to rush for business, more should emerge shortly especially if rumors of a more active April market will be confirmed by facts.
Handy (Indian Ocean/South Africa)
New firmer fixtures were reported concluded from India to China. According to several opinions this is only the start as due to monsoons starting to hit the country by next May/beginning June, it is expected that the Chinese receivers will try to grab as much cargo as possible before getting involved with the seasonal pipeline supply breakdown. This will also push upwards South African coal rates.
Banchero Costa and Co Spa
Mail: research@bancosta.it