Capesize market slipped last week in view of rates being lowered even below $ 8 by Rio Tinto and BHP from West Australia to China. For this reason some Owners were thinking to ballast their ship to Brazil instead of just doing one West Australian round. The Atlantic market is still suffering the lack of early tonnage, but cargo requirements within Atlantic are still lacking. The iron ore rate Brazil to China dropped upto/about Usd 20 but then talks were reporting rates up again. Baltic Capesize Index lost 805 points and the average of the 4 t/c routes lost $ 9,352.
Panamax (Atlantic and Pacific)
The Atlantic market was still showing steady rates and tight tonnage availability expected which kept rates firm. Also the Pacific basin was improving with more and more spot/ppt tonnage fixed. Very good period fixtures have been reported due to improvements in paper values, with an LME fixed for about 1-years trading at an improved usd 14.000 daily in Pacific and usd 16500 in Atlantic delivery.
Handy (Far East/Pacific)
Market was still slowly improving in the Pacific area, even if levels remained extremely low if compared with the Atlantic area. There were more cargoes, but there were also too many ships, and we were starting to see owners sending their ships from China to USG in ballast. Compared with the previous week period activity decreased in volume, but hire rates were slightly higher.
Handy (North Europe/Mediterranean)
A lot of scrap cargoes from Continent were driving up rates. We have seen a 48 k dwt fixed at usd 30.000 for a trip to the Far East. And also cargoes to West Africa or Med were paying good rates, close to 20.000 usd. The Black Sea was still very active, it was difficult to find vessels willing to go to Far East, MEG area, for which charterers were there to pay very interesting premium.
Handy (USA/N.Atlantic/Lakes/S.America)
USG-USEC and SAmerica were becoming firmer and firmer. Even if there were more vessel open in Atlantic, we have seen many fresh cargoes. Trip via USG to India was paying well over 30.000 usd and now is in the mid high teens. Some ships started to ballast from the Far East to load in USG, and from India - MEG area to load in South America.
Handy (Indian Ocean/South Africa)
Some fresh cargoes ex SAfrica brought the South Africa round at more than 10.000 bss dop wci. The volume of iron ore to China was still good, and seemed getting better. Rates level remained more or less unchanged. Big operators were trying to take vessels for period with delivery in this area.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it