April 2– April 8, 2012 Weekly market report.. Banchero Costa

Wednesday, 11 April 2012 12:21:01 (GMT+3)   |  
       

Capesize (Atlantic and Pacific)

The Capesize market improved last week in the Atlantic confirming positive signals already showed during the previous week. The fronthaul voyage was fixed at $21 and the charterers were rumored to pay the same for end of April dates. In Pacific all the tonnage available did not allow rates to break $8 for West Australia round even though the reported levels were very close to $7.90. The market was quieter at the end of the week as Easter Holidays approached. Period market was calm as well with 1 year period reported at $10,000 daily.

Panamax (Atlantic and Pacific)

The market was flat due to the Chinese holidays in the first half of the week and following Easter holidays in the West. Many owners and charterers were more willing to move next week after the holidays. Transatlantic business was quite firm, supported by grain cargo, talked at around $10,000 daily plus $325,000 bb.Fronthaul business ex ECSA kept stable at a good levels, securing LME at $17,000 daily plus $650,000bb on aps dely or $10,500 dely passing Singapore basis. In Far East, Indonesia round was still steady despite of the Chinese holiday, with S.China candidates talked at $8,000 daily. North China candidates were not so lucky because Nopac cargoes were scarce and rates were soft. A vessel in Japan agreed $6,500 daily for Nopac/Philippines round. Short period orders were limited and charterers were just willing to take vessels at very low $9,000 daily for 4/7mos.

Handy (Far East/Pacific)

A large list of reported fixtures reconfirmed that the over tonnage in this area has a negative impact on rates. Supramax rates for Pacific rounds were the worst hit while business via Southeast Asia back to China or into the Indian Ocean showed to resist the negative trend, even though fixed at slightly lower levels. Backhaul rates showed to suffer proportionally less the negative trend even though the much longer duration would affect owners' income more seriously. Supramaxes kept getting fixed on short periods with rates now getting close to the $10,000 daily level. The sole Handysize reported fixture for short period showed that smaller tonnage kept resisting the market negative variations.

Handy (North Europe/Mediterranean)

With Easter holidays approaching activity was very quiet especially for business loading out of the European waters where the few fixtures concluded were kept strictly confidential. The market trend was said to be from all areas except the Black Sea that was reported to be starting firm up again.

Handy (USA/N.Atlantic/Lakes/S.America)

Although market activity was slightly stronger compared to the European market, the chartering interest from Atlantic Americas was still lower with a larger idleness from US Gulf. South American market managed to keep some more activity on. Supramax and Handymax were again significantly affected by the negative market trend while Handy kept fetching firm rates for Transatlantic employments ex South America.

Handy (Indian Ocean/South Africa)

Chinese holidays during the first part of the week halted the iron ore activity from India again. The only fixture reported for a very large/fancy Supramax showed this vessel type didn't get any premium from charterers. Voyage rates on this trade were said to have become discounted by about 1 Usd per tone. No other activity was reported concluded from this area with the exception of a couple of Handysize units that were said to have been fixed to carry rice from East Coast India to West Africa at rates similar to last dones. Similar sized agribulks from the same loading range were rumored to have been booked at firm levels connected with the request of combo ports discharge in West Africa.

Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it


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