Capesize (Atlantic and Pacific)
Little activity has been seen this week also due to Coaltrans, conference in Athens on Monday, Tuesday and Wednesday, which slowed the market. The market at the end of the week however closed positively. Atlantic round remained between $58/60,000, the fronthaul just above $70,000, Ore
Brazil/
China around $30/30.5, Pacific round $64/65,000, the backhaul was the one which improved more peaking at $55,000 or around $28.5 for Ore Glastone/Rotterdam. BCI index gained only 64 points with most of the operators, especially those more active on papers, which forecast a further improvement next week.
Panamax (Atlantic and Pacific)
The Atlantic Panamax market closed the week with falling rates. There is too much prompt tonnage still on the market, while no fresh inquiry available despite some Capesize cargoes have been splitted in 2 Panamaxes. Also too high grain prices are keeping Chinese buyers out of the market. In the Pacific, rates were up slightly or holding at last one. Activity in the Indonesian coal trade and NoPac rounds are supporting the market.
Handy (Far East/Pacific)
Little fresh enquiry kept this basin quiet leading rates for single trips to a progressive decrease through the week. Concluded fixtures are still described as decent and charterers can still enjoy taking tonnage from the considerably more depressed Indian Ocean to cover short trips from South East Asia to the
Far East. Proportionally to the spot owners are still getting paid quite reasonable rates for short and longer term period employment.
Handy (North Europe/Mediterranean)
Demand from the Black Sea remains small and mostly concentrated on Persian Gulf/Indian Ocean directions where owners need to struggle to achieve decent enough rates, also considering the short terms duration and the ending up in a non-attractive area. There is still few business quoted out of the Continent which allowed charterers to conclude some lower level fixtures, but owners with tonnage available in this area are still resisting from agreeing lower rates for period business.
Handy (USA/N.Atlantic/Lakes/S.America)
Very little fresh enquiry was seen from the
US Gulf where a pile up of tonnage may be expected as from the 2nfd week of November while funny enough for prompt positions the area is quite dry both of tonnage and cargoes.
South America kept a little more regular activity but
Far East and
Middle East bound business is lacking allowing charts to put extra pressure on their Atlantic requirements.
Handy (Indian Ocean/South Africa)
Iron ore tonnage demand from
India to
China was switched off again hitting rates down. A very small volume of enquiry in connection with a still quiet demand out of South
Africa is pushing owners of tonnage getting available in the Muscat area to fix business loading from South East Asia and
Australia.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it