Capesize (Atlantic and Pacific)
Capes market was climbing the whole week.
Far East was in particular very active and carried the whole market on the positive mark. BCI index closed gaining 283 points and the average 4 T/C routes achieved $64,342, $4,000 more than the previous week. Backhaul cargoes in particular were the stars with many enquiries at increasing rates. T/C was closed to $60,000. Coal from Richards Bay improved achieving and passing $25.00.
Panamax (Atlantic and Pacific)
All this week Atlantic Panamax market was dull again till too much tonnage in the Atlantic and insufficient inquiry especially of grain changed the route. Period interest increased and business helped to steady the market. Pacific instead still plenty of inquiry and tight tonnage availability which sustained recent gains. The period for both short and long-term business underline the positive trend together with trip back Atlantic which showed very high T/C rates.
Handy (Far East/Pacific)
Activity was even quieter at the beginning of the week with single trip rates decreasing and period interest progressively drying up. Supramaxes for trips from
Far East to the Indian Ocean have been booked below $30,000 per day and similar money was agreed for period. The improving Panamax market started show at the end of the week some reflections in the smaller size segment that may show some recovery next week.
Handy (North Europe/Mediterranean)
There is little business to be fixed for tonnage open in the Mediterranean, Black Sea and Continental areas. Trips across are fixed at lower and lower money while rates from Black Sea to
Middle East although not exciting are still paying a little more decent rates proportionally, very few fixtures reported from the Continent didn't show any exciting result.
Handy (USA/N.Atlantic/Lakes/S.America)
The trend was very similar from the previous week with no fixtures reported concluded and rumors of some vessels caught by charterers from the
US Gulf at cheaper money. The end of the week shows more enquiries especially from
US Gulf, while available tonnage has become scarce due to all owners running away to the East.
Handy (Indian Ocean/South Africa)
South African market enjoyed a sudden wake up that showed a number of concluded fixtures to
Europe and Americas at poor enough rates, a fortune type fetched better money for a trip to the East. Chartering interest from
India to
China is still poor with very few fixtures reported and decent money was paid only for tonnage available loading ex the Eastern Coast.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it