Capesize (Atlantic and Pacific)
A week under tone also due to the Coaltrans conference held in Rome at the beginning of the week, which took several operators and traders out of the business for a while. Market closed the week with a negative trend at minus 89 points only. Especially in the last days market shown less activity with the Trans-Atlantic loosing almost $ 3,000 and the Fronthaul closing at just below $ 227,000. Pacific Basin is also under tone with Pacific Rounds at about $ 186,000 with paper market having getting usual up and down trend. Period market also shown less activity though the long period remained quite strong with a 174,000 dwt built 2005 reported fixed with delivery end October for 2 years at a good $ 140,000 daily.
Panamax (Atlantic and Pacific)
Atlantic Panamax business was very quiet at the end of the week. Some charterers have yet to enter the market with new business, but also some ballasters still looking to fix; however sentiment is still positive and short period rates which are very high keep this sentiment. In Pacific rates are steady, with $100,000 daily reported done for an India/China run. Very active period business with good demand noted: 1-year Usd 87,000 while short period is now at $ 100,000.
Handy (Far East/Pacific)
Quite good spot market fixtures where reported thru the week showing excellent rates agreed on local trips, round voyages and trips out, both for Handymaxes and Handies. Getting closer to the weekend the spot demand dried up a bit and prompt tonnage started to pile up rather quickly. Charterers still kept strong interest for Handymax and Supramax short period fixing, some vessels were reported booked for same at quite strong rates which let owners believe the slowdown is only temporary.
Handy (North Europe/Mediterranean)
The sole two fixtures reported for loading out of the Continent have been concluded at so firm levels to let think that there is a much larger volume of concluded business done off-the market. A Supramax for a trip from this area to the Far East had to be fixed with delivery in the Western Mediterranean, but this is the fee chrs have to pay to go against the market of Americas which keeps washing away the tonnage open on this side. Very little activity was seen for loading out of Mediterranean and Black Sea but chrs involved with BSea loading are struggling to get reasonable enough rates back from owners.
Handy (USA/N.Atlantic/Lakes/S.America)
We won't stop getting surprised from what we will see reported every next day for tonnage loading out of these areas. 80,000 Usd daily was paid for a vsl delivering in West Africa to load in South America for Far East destinations and 88,000 for slightly smaller Supramaxes delivering Mexico to load at Us Gulf and proceed to Europe. Other Handymax and Supramax tonnage was booked at fat rates still delivering at European ports while charterers have temporarily abandoned their period enquiries due to too high rates. Bigger rates were also paid to quite aged tonnage and smaller handies kept achieving very strong rates for spot employments all around.
Handy (Indian Ocean/South Africa)
Rates for the India China Supramax iron ore transportation have grown up further and this week stabilized in the mid/upper 70,000'' level making this area closer and closer to the rich market levels which could be achieved for delivering in other oceans. An elder Handymax delivering at these waters was booked at a quite strong rate for short period, showing a general market concentration around the Indian coasts with an otherwise smaller chartering interest from South African and Persian Gulf areas.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it