Capesize (Atlantic and Pacific)
Capesize market has seen quite an important increase last week with the Baltic Exchange index passing 871 to 1331. The market was heavily driven by iron ore trade from West Australia to China: with almost 10/15 cargoes done during the week the pacific round rose from about $ 2,200 to about $ 10,300 and more. Atlantic market did not move as Pacific and also Fronthaul business were not much active as Brazilians Vale is still not able to sell iron ore to the Chinese, but in any case time charter rates passed $ 10,000 daily mark.
Panamax (Atlantic and Pacific)
The Panamax market continued its decline but with some positive feeling for next future. In fact there was a little more activity on the period side with a rumour of one LME unit fixed at around US$10,000 for a year with December delivery in the Med. Apart from that there was very little positive news from any side of the basin. Both Trans-Atlantic and Trans-Pacific round voyages now stand close to US$3,000 per day, with little change on the horizon.
Handy (Far East/Pacific)
Rates are still going down, few fresh cargoes and a huge number of vessels open in the area. Trip to USG have been done just over 3,000 Usd daily, backhaul is around 4,000/4,500 per for modern Supramaxes. Even rates for Intra Far East employments are a bit cheaper than last week.
Handy (North Europe/Mediterranean)
No activity reported from Med-Black Sea basin and from Cont. Understand there have been some fixtures ex Baltic, but no details and anyhow rates very low. There is a big number of spot tonnage drifting in Med and Black Sea, which are not finding the proper employment.
Handy (USA/N.Atlantic/Lakes/S.America)
Few cargoes coming out ex USG and ECS America and rates are still dropping. Most of people is waiting for a bit rebound in early January. Quite a good number of spot vessel are preferring short employment to remain in this area.
Handy (Indian Ocean/South Africa)
Still quite a good activity in the trading of iron ore between India and China, but rates are cheaper than last weeks, the only fixture really high remain MV Prabu Lal.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it