Capesize (Atlantic and Pacific)
The Capesize market was weak, especially in the Atlantic that seemed to be more promising the previous week. Fronthaul business from Brazil settled in the low $21, while owners from Colombia were willing to break $29 level talked by charterers at the beginning of the week. In the Pacific rates were relatively softer as well, although the market got busier on Thursday and Friday for WestAus/China route ending between $7.80 and $7.90 level. The period market was active for short duration: 5/8 months was fixed at $11,500 dely Far East.
Panamax (Atlantic and Pacific)
The Atlantic market experienced a rapid growth driven by the ECSA grains. Fronthaul business was talked at $18,500 daily + $850,000 bb at the end of the week. Tonnage available for Transatlantic round business was limited and pushed rates for 2/3 laden legs within the Atlantic up to $13,000 daily level del Cont. Also Pacific was very active with Indonesia round talked at $11,000 daily and some LME in N.China fixed and failed for Nopac rounds at $12,250 daily. Short period business was fairly hot and several fixtures were done at $11,500 to $12,000 daily for 4/6mos. However many charterers managed to hold back rates on Friday and some were expecting a softer market by the end of next week.
Handy (Far East/Pacific)
Approaching the Indonesian nickel ore ban charterers were fixing prompt tonnage as fast as possible. Tonnage available close to the loading area achieved larger premiums than the saved positioning ballast. At the same time, some further positive reflections reached other trades and better money was also paid for coal from Indonesia to India. Period interest was for durations up to 12 months with more concluded business than reported. All reported fixtures indicated that tonnage open in North China was cheaper than in Southeast Asia. At first vessels were booked at around $11,000 daily for both 3/5 months and 1 year, afterwards similar tonnage was fixed at $13,000 for 3/5 months. No activity was reported ex Australia and Pacific Americas: this might threaten future stability of the market in this area. No activity was reported either for Handysizes which experienced some lack of employment even though were said to keep enjoying decent voyage rates to carry bagged rice from Southeast Asia to West Africa.
Handy (North Europe/Mediterranean)
Charter activity remained pretty much quiet in these areas with little demand. The only two fixtures reported were about Supramaxes fixing unexciting levels to carry scrap from Northern Europe to Eastern Med and to move wheat out of Black Sea into the Red Sea. At the end of the week there were several rumours about spot market picking up in Black Sea, but there were no reports available to support it. Interest for backhaul business was quite scarce and just talked at very low money.
Handy (USA/N.Atlantic/Lakes/S.America)
The market firmed for Supramaxes ex South America and started to improve from the USG. The lack of available Panamaxes diverted more and more cargoes towards smaller sizes. Improved rates were agreed, even though some units still got unattractive levels. Transatlantic business from USG into Med was done around $15,000 daily. A Supra got $16,000 and was shortly followed by another one agreeing $18,000. A nice 55,000 tonner was fixed at $20,000 daily dely River Plate to carry grains into the Med with redelivery East Med. A larger modern type agreed only $16,000 plus $375,000 bb with similar aps delivery for a trip into the Far East. There were few fixtures reported for Handysizes with less interest for these types ex South America. However better rates were agreed for Handies from the USG into the Mediterranean.
Handy (Indian Ocean/South Africa)
The iron ore trade from India to China remained scarce; this made life difficult for owners with Supramax tonnage available in this area. Considering this the short period rate of $12,000 daily agreed for a large Supra was not bad, but the vessel was already ballasting from East Coast India to Southeast Asia where charterers wanted to load, which made it equivalent to a similar vessel taken in the Pacific with delivery China. In spite of the small demand ex South Africa, a smaller Supra was fixed with delivery there for the same duration period at the same rate plus ballast bonus. Then a large Supra fixed a trip to Med at a rate not too bad considering the area where the vessel was coming from and that she could be used to load via South America.
Banchero Costa and Co Spa
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