Capesize (Atlantic and Pacific)
Up and down on capesize market. We just seen a downwards the previous week and now we assisting at another rush in the week just elapsed: plus 1813 points on the Baltic Capesize Index, the average of the 4 T/c routes increased of 23,710 $ daily reaching the level of almost $ 185,000 with spot and period rates at record highs !!! Fronthaul iron ore cargoes were bringing tc rate upto $ 227,000 daily while the Transatlantic rounds at about $ 186,000, almost similar level in Pacific, with the backhaul instead at about $ 132,000.
Panamax (Atlantic and Pacific)
The Panamax market seems to be going from strength to strength and rates with rates and indices marking new highs. Tighter tonnage in the Atlantic and Pacific and plenty of fresh inquiry have pushed rates up strongly close the $100,000 (rumours of business done at over $100,000 daily for a NoPac round, but confirmation has yet to emerge). Also demand for period business is very high and rates are very strong too: 4-6 months trading now done at $mid 90,000s and 15-17 months trading fixed at $ hi 70,000/80,000 daily while 3-years trading fixed at $ mid 60,000s daily.
Handy (Far East/Pacific)
The Chinese slow catch-back of activity did not prevent this market to go active and firm. Period interest still was the leader with strong rates agreed for smaller and larger handies, a 40,000 tonner fetched a high 30,000's daily rate for a 2 years duration, 53,000 Usd was the rate for Supramax size on sme duration, size which was reported fixed in the mid 60,000's for 8/9 mos employment. A strong activity with cement to be carried into West Africa rose the trip out rates for both Handies and Supramaxes, compelling charterers involved with "clean" commodity transportations to pay up on the same trade. Other reported concluded spot activity showed a firm 70,000 Usd daily agreed for Supramax to carry nickel ore via Philippines to China and mid 60,000's paid to a similar size for a North Pacific round voyage.
Handy (North Europe/Mediterranean)
Scrap activity for the Continent was smaller and generally not much demand for loading out of this area was seen. On the other side the unarrestable upwards market trend from Atlantic Americas is quickly washing away the tonnage available in these areas with owners fetching firmer rates on round-voyage and period employments. A similar soft demand was seen from Mediterranean and Black Sea was more the surface of a market where operators involved with grain shipments from Black Sea to Arabian countries get snobbed by owners who want keep their tonnage in the Atlantic or at least entertain what they consider more "consistant" deals. A 49,000 tonner delivering in the Adriatic Sea got paid mid 50,000's daily for a trip via Algeria into India.
Handy (USA/N.Atlantic/Lakes/S.America)
There is no room left for surprise about the rates being agreed from the US Gulf. After 95,000 Usd daily rumored for a Supramax to load petcoke ito Med and around 75,000 for a Handymax delivering on the European side for loading grains back to the Continent, similar size was fixed at 95,000 aps Texas for a trip to India. A large Supramax fixed on subs Usd 100,000 daily for a North Brazil delivery loading Us Gulf to Japan, after failing re-fixed similar buziness at 106,000 daily and failed again. Which perhaps shows a bit of unconsciousness from charterers in agreeing crazy levels without being able aterwards to match their economies and being able to finalize their buziness. But at the ground the American Atlantic market remains anyhow very strong for owners. Sotuh American is matching a similar atmosphere with very strong fixtures concluded mostly for Atlantic destinations on tonnage delivering in Europe, West Africa and South Africa.
Handy (Indian Ocean/South Africa)
Period fixing interest was seen to be quieter from this area, perhaps due to the India/China Iron ore market now growing more seriously. 64,000 Usd daily was paid for a large Supramax basis Ec India loading, quickly followed by a bit surprising 66,000 paid for a similar size loading on the West coast. However the subsequent report of a 69,000 Usd daily agreed for another unit to load out of the West coast, besides under-lining the increasing trend, reconfirmed that East coast loading is still worth more. Handy-sizes enjoyed as well an exciting market with several boats booked on trips to different directions, all in the 40,000's.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it