Capesize (Atlantic and Pacific)
A very confused week for the Capes which reached the end with a negative minus 478 points. The week started positively the first 2 days to fall considerably the balance of the other days mainly as a consequence of stopping of activity in Far East which has driven the market the previous week. Atlantic market, while under pressure, have held up reasonably well with Front-Haul business at a more-or-less unchanged level, the Pacific rounds instead have lost all their previous strength loosing then about $ 6,000. South Africa to Cont and EC Australia to Cont are more or less unchanged and Period sector most un-active with practically no significant fixtures reported.
Panamax (Atlantic and Pacific)
Last Week was relative quite, in the Atlantic more business was concluded on rounds rather than on trips to the East with mineral trades making the major of the reported fixtures. Short period activity still bit busy and rates have a premium over spot. The Far East activity instead remains very stead with rates fallen to low $70,000s either for rounds or for short period. In both basin markets closed on a more volatile note due also to paper market fluctuation.
Handy (Far East/Pacific)
Rates kept steady thru the week with a good amount of demand mostly for spot requiremets and reasonable number of fixtures reported at satisfactory levels. While backhaul business to Europe, East Africa and US Gulf was quieter, more interest was registerd on local trades, Australian round voyages and some fresh enquiries out of Pacific Americas. Large Supramaxes earning mid $70,000s for Australian rounds while larger Handies still fetch well over $40,000's on the same trade. Supramax rate for local trips stands in the low $70,000's daily while low $50,000's was paid for same sized tonnage delivering Japan for a trip with fertilizers via North Pacific, to get positioned in active South American area, a slightly smaller unitiy manage to get his $40,000 for a similar redelivery while an overaged large handy received a good $40,000 daily for a trip from South China to the US Gulf.
Handy (North Europe/Mediterranean)
Although no fixtures were reported concluded this week from the Continent, several new requirements were put in the market predicting firmer activity for the forthcoming week. Mediterranean and Black Sea were reported quiet as well for the number of fixtures conluded, as a probable cosequence of Charterers last week's attempt to put rates down. But the Supramax period fixtures reported concluded basis delivery South Spain and the Handysize booked from Black Sea to the Persian Gulf talk on their own about a steadily firm atmosphere in this side of the market.
Handy (USA/N.Atlantic/Lakes/S.America)
An initially steady market was followed by a sudden increaese of fixing which firstly lead to some lower rates agreed and afterwards switched on an increasing market which remained very much alive until last minute of this week. A number of second half load ready requirements from the US Gulf connected with a shortage for prompt enough tonnage may easily push the already firm rates to explode further, fresh enquiries for the end of the month are seen also from South America where prompt enough tonnage is lacking as well. Irrespectively to the Charterers willingness to face the growing rates it still may happen to see somebody left "in te middle of the street" just due to a physical absence of the vessel able to match his required dates
Handy (Indian Ocean/South Africa)
India/China iron ore trade went back to full steam suddenly making the area one of the most attractive and active market spots. A flood of fresh fixtures on this trade were reported thru the week showing that timechater rates for Supramaxe have stabilized in the mid $70.000's irrespective of the loaing coast. Very good money was paid as well to tonnage coming open in East Africa for trips via South Africa to the Continent, Far East and Middle East.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it