Capesize (Atlantic and Pacific)
Further 1,452 points gained on the Capesize Baltic Index!!! It seems there should be no stop to this run!!! Market was again very healthy in every area with fresh ground on a daily basis and time-charter rate for fronthaul Brazil to China route over passed the $ 200,000. Especially the 4 time-charter route reached $ 166,634. The Atlantic market especially was under pressure with most of prompt capes available disappearing and with few Charterers who decided to split their cargoes in two Panamax were able to find cheaper rates than one capsize bottom. The holidays in China during most of days of next week will probably bring some softening of market although this is always to be confirmed. On the long period there MOSK have taken one modern capes with delivery mid 2008 at about $ 66/67.000 daily for 5 years t/c but there are rumours that they may have taken upto 4/5 vessels in total for long period t/c.
Panamax (Atlantic and Pacific)
Market started this week hoping that many of Capesize splitting would drive rates higher, but this not happened, as charterers didn't successes to this in many cases. However mid week brought some fresh inquiries especially for short period and again many charterers were more convincing to split their cape size cargoes; the rate for trips to the East were back in the upper $70,000 daily range and mid $70,000 daily for transatlantic rounds. In the east holidays in S. Korea and further one in China brought a negative sentiment taking lower rates. However everybody still saying that forward interest was always strong especially for medium/long period.
Handy (Far East/Pacific)
The absence of Korea and Japan on holiday until Wednesday (included) slowed down the activity mostly on the spot business. Rates stayed firm enough an rumors say the China/India leg is now paying better money, the smaller choice of business allowed charterers to book some backhaul business. Short period chartering interest became alive again and a couple of reported fixtures showed owners earning good money. Smaller handies keep fetching very attractive rates.
Handy (North Europe/Mediterranean)
Handymax and Supramax chartering was dragged on slowly along the week without any fixtures revealed to have been concluded. These sizes were further slowed by charterers involved with business loading out of Americas who joined into a strong resistance in taking into consideration owners rating business basis dop European ports. Stronger activity seen around smaller handies although the nice rates fix are still beyond what similar tonnage would achieve within Pacific waters.
Handy (USA/N.Atlantic/Lakes/S.America)
Again the beginning of the week showed a smaller demand without however bringing any downward trend to rates. Afterwards transatlantic rates from the Us Gulf picked up again with a large modern type achieving great money for a trip into Spain. Revived short period interest assist rates to push up again, Handymaxes are getting very nicely for transatlantic South American business, together with smaller Handies enjoying firm timecharter fixtures and said also to have been booked on few voyage business at strong money. Rumors of a Handymax fixed at lower money from West Africa via South America to the east are yet to be confirmed.
Handy (Indian Ocean/South Africa)
Rates kept slowly growing up on the India China iron ore with the usual bigger money available for tonnage loading out o the east coast. Danish operators were rumored having fixed a Supramax delivering in the area at abt $ 60,000 daily for short period. A bit more tonnage is building up for Second half October dates.
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