Capesize (Atlantic and Pacific)
The Capesize market strengthened his attitude and continued his upward trend during last week. Baltic Capesize Index increased 285 points; the 4 T/c routes closed at $ 23,451 an increase of $ 3,562 from last week. The Fronthaul cargoes increased of almost Usd 2 and the Time-Charter round gained $ 4,259 daily reaching $ 23,059. However last Friday the market, perhaps driven by falling papers, lost 45 points and will therefore have to see next week if the trend has changed again.
Panamax (Atlantic and Pacific)
Market slowed down with more cautious tone for Atlantic market, especially grain shipments from South America, which largely dominated the market, fell a bit and influenced the rates with ships demand becoming low: Trans-Atlantic rounds were said to be about $11,000 daily. At beginning of week, in the Pacific basin, instead, has seen good activity from Indonesia and Australia coal which brought good rates, but then fresh inquiries were very limited as the demand for vessels to carry cargoes from the Atlantic slowed. More and more ship available were noted and rates fell down. From the Indian Ocean, cargoes of coal and ore appeared to be less than in the first few days. Period activity which picked up earlier in the week has reported seen some fixing and failing.
Handy (Far East/Pacific)
Market of the area was so quiet this week with limited demand for tonnage. In spite of this, the round voyages via South East Asia were still proved to be paid reasonable enough rates. Grain charterer operators managed to book a Supramax for a long term charter at rate which was logical as the delivery area will be quite advantageous to charterers once the vessel is positioned in the Atlantic basin.
Handy (North Europe/Mediterranean)
The charterers demand for tonnage to load out of the Black Sea to Eastbound and Atlantic directions was still running strong with firm rates agreed also for tonnage delivering several days off the loading area. The North European market didn't remain as strong as before with some softer rates agreed and some vessel's rushing to fix into areas where they were aiming to position themselves. Anyhow the volume of the enquiry from this area was smaller this week.
Handy (USA/N.Atlantic/Lakes/S.America)
A slower start of the week was seen from Atlantic Americas, but was followed by a small firming up of the Southern American market due to fresh demand for loading grains and fertilizers both to the East and the Atlantic destinations. A Supramax open West Coast Central Africa and another one in West Africa were fixed on a dop delivery basis for short period in the usd 17,000's daily level, both for loading ex Atlantic Americas as first leg.
Handy (Indian Ocean/South Africa)
A further growth of the demand from charterers to load iron ore from India to China showed a constant increase of the agreed timecharter daily rate through the week, which ended up with a large supramax fetching an exciting hire in excess of usd 16,000 on this trade. Round voyages via South Africa to India were compelled to be fixed at the same levels of the India/China run. Strangely, a Supramax was reported booked for one year trading at a low enough level in comparison with the general trend of this area.
Banchero Costa and Co Spa
Mail: research@bancosta.it
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