Capesize (Atlantic and Pacific)
The irrationality of the Capesize market, sharply up one week and down the next, seems to have subdued, at least for now. Last week the market remained mostly unchanged, with some improvement until Wednesday, only to return to the previous levels at the end of the week. The Atlantic has been quite flat with little demand and few prompt vessels; only some
iron ore for
China provided some action even though the major Chinese operators have by now their vessels almost always in position. The Tubarao/Beilun+Baoshan index closed the week down to $25.23, and the T/c fronthaul to $54,430. Also in
Far East we saw a slowdown in activity with a generalised softening in rates which took the Pacific Round to close down to $42,130.
Panamax (Atlantic and Pacific)
The levels this week have improved slightly. Timecharter trips to the East are now around the $20,000 pd mark which is close to $1,000 pd higher than last week. Short trans-Atlantic round voyages are paying $16,000/16,500, with the longer rounds staying about $750/1000 above such level. There was little activity for short period with today's rate for the eco type being around $18,500-19,000. In the Pacific, the market remained firm taking advantage of the good levels reached the week before. Short period still remain the major pusher, with grain house still taking in a considerable number of vessels for 4/6 mos or 5/7 months at levels between 18,500 and 19,500 usd. Other Chrs were forced to follow. The Nopac round reached the levels of 20.000 usd daily and Indonesian and Australian round voyages were fixing in the low $20,000s.
Handy (Far East/Pacific)
The market remains pretty firm all around the area, with owners trying to push rates further up, and with charterers attempting to resist the rise left with their requirements unfixed. More and more charterers need to attract fixtures by translating their single trip enquiry into short period.
Handy (North Europe/Mediterranean)
The latest reported fixtures from the Continent show how rapidly the market is firming up here. Enquiries still to be covered are kept low profile, but the reality of an going sound chartering activity pops-out as soon as a new concluded fixture gets reported. The Mediterranean and the Black Sea remain a struggle for owners.
Handy (US/N. Atlantic/Lakes/S. America)
The chartering activity in the US Gulf is still a mess for the owners. Some cross trade deals were concluded at a little better money. Fewer concluded fixtures to
Far East were reported, achievable rates from handymaxes oscillate between $15/17,000 daily depending on size/type/final destination. Some owners start thinking about ballasting into the Central American west coast to try enjoy the better Pacific market. In spite of the competition from the ballasters, South American rates resisted at the previous week's levels.
Handy (Indian Ocean/South Africa)
The
India to
China iron ore trade is monopolizing the tonnage available in the area. Rates are climbing up further, and $25,000 daily for fancy large types is no longer that shocking a rate. Charterers' attempts to fix tonnage from this area to other destinations results into owners' crazily high rating back.
Banchero Costa