Capesize (Atlantic and Pacific)
Also the concluded week was a quiet one, as most charterers were holding on in the attempt to keep the rates as low as possible. Especially in the Far East we have seen very little activity from the iron ore operators and in fact the market were showing the negative sign. 157 points lost in one week, $2,815 daily less on the average of the 4 T/c routes, and also the Atlantic round on a negative basis exceptionally with more prompt vessels than available cargoes. Time charter period has shown poor activity as well with few fixture concluded on the short 3/5 or 4/5 months t/c still at quite healthy level plus one done by a 177.000 modern cape at $78,500 for one year.
Panamax (Atlantic and Pacific)
The market keeps a steady pace with maintained numbers in both Atlantic and Pacific areas. Sentiment and expectations keep leading a belief that the market should sooner than later again increase its numbers somehow, also taking into consideration that the number of vessels open especially on the Atlantic side has decreased and the ships steadily continue to be fixed at good levels. Even if up to now these expectations have not yet fully materialized, market keeps reporting levels in Atlantic over $40,000 for both Atlantic round and fronthauls.
The Pacific market is moving as well, and this includes the Aden/Muscat area where we are seeing more activity again for India/China stems. Having said this, even if there are more enquiries for single trips, it is still very much the case that short period is what pays best for now on the Pacific side.
Handy (Far East/Pacific)
The new week started with a smaller volume of enquiry which at the surface didn't show to grow through the days. However the charterers' persisting attempt to lower rates was vain, after the first concluded fixtures were reported at previous week's levels, rates started growing with some LME reported fixed at mid and high $30,000's daily for 5/7 month employment and another one fetching well over $25,000 for 3 years commitment. Interest for backhaul business is back with considerably increased rates agreed and the Far East/Indian ocean time-charter trip rate getting closer and closer to the $40,000 mark.
Handy (North Europe/Mediterranean)
The Mediterranean/Black Sea markets gave some impression of being more affected by the "tail" of the Christian Easter Holidays but this was more coming from the charterers trying to play hide and seek with their business. The actual day-to-day showed everybody busy as from Tuesday with fresh enquiry coming out and quickly disappearing through confidential fixing. The few reports of concluded deals show this is anything but a weakening market area.
Handy (USA/N.Atlantic/Lakes/S.America)
The American Atlantic waters wee totally untouched by the festivities, the first working day of the week showed US Gulf and South American markets as firm as the Friday before, with a daily increase through the week in both areas an a fresh period interest from charterers for US Gulf deliveries. The "45's" are easily getting high 40'000's daily for trips out of the US Gulf into European waters but the top of the week was a 52,000 tonner getting booked at 51,500 for trip to the Far East. South America concentrated it's interest on smaller handies which due to the shortage of available tonnage are taken on delivery for the other side of the Atlantic, at rates which are getting closer to what same tonnage would have achieved on aps basis a couple of weeks ago.
Handy (Indian Ocean/South Africa)
The customary back and forth distinguishing this area's trend showed charterers again keen take tonnage for period even at rates which are not that much below the spot employment levels. Interest for single trips is still very much alive with improved rates agreed, both for loading west and east coast India.
Banchero Costa and Co Spa
Mail: research@bancosta.it