Capesize (Atlantic and Pacific)
The market didn't improve much. In the Pacific there was more activity, but levels were substantially flat: $7.60 was fixed for Dampier to China several times. In the Pacific, Richards Bay to Fangcheng was fixed at $12.70. The Atlantic was more active from Bolivar, but rates were again flat at around $9.70. From Brazil activity was scarce and fixtures were in the low/mid $19. There was good interest in taking period tonnage: 5/8 months delivery the Far East was fixed at $12,500.
Panamax (Atlantic and Pacific)
The Atlantic market saw increased activity by the end of the week with fronthaul business showing improved rates. The activity was focused on East Coast South America to Far Eastern routes and rates were in the high teens. The TransAtlantic round was still hovering at low levels and owners were more interested in doing 2 laden legs at about $10,000 daily. In the East the market rocketed up thanks to the ECSA grain orders. A LME was talked at over $10,000 daily del passing Singapore for ECSA/Feast round and charterers were willing to pay $7,000 daily or more for LME in S.China for a Pacific round. Short period was very hot with rate climbing up everyday and closed the week at around $11,000 daily for S.China.
Handy (Far East/Pacific)
An influx of fresh business has now brought some improvements to rates; there were also some additional chartering interest for business loading out of the North Pacific and Australia. The market started showing better rates for Supramaxes via Southeast Asia for Indian destinations, but some similar tonnage agreed lower rates. The positional issue was quickly overcame by a more general consolidation to firmer levels. Coal trade to India was concluded between high $8,000's/high $9,000's plus over $100,000 bb. Modern Supramaxes earned up to high $7,000's (or equivalent aps) for the Pacific rounds and a nice 53,000 tonner available at Singapore was reported to achieve a good $9,300 daily for an Australian round. More interest for period was seen again with short period on a Supramax agreed at $8,000 and a larger fancy boat rumored at $10,500 for one year.
Handy (North Europe/Mediterranean)
There was still little business from Black Sea and almost nothing from Mediterranean ports. Rates saw some further reduction for the area. The Atlantic Supramax business was being fixed at scary levels around $1/3,000 daily almost irrespective of the vessel size. However a Supramax was fixed at higher levels for Black Sea/USG. A smaller 32,000 tonner dely at Egyptian Med fetched only $1,000 daily for to go the same destination. The sole fronthaul fixture reported via Black Sea was agreed at only $10,500 daily. A similar trend from North Europe ended up into a 52,000 taking clinkers to West Africa at only $2,000 daily. There were also rumors about a similar unit done at $6,750 daily to go East Med, while a smaller unit on same trade was said to achieve a premium rate over $7,000.
Owners were struggling to keep rates unchanged because of an on-going slow demand from USG and too much tonnage available in the area. A large Supramax was fixed for a trip into Far East at only $18,000 daily while a smaller Supramax still managed to get $10,000 daily for Med. The lower rates from this area were inducing owners to look at voyage basis fixing for the Far East destination, even if voyage rates were decreased more or less proportionally. The main benefit was that owners can get almost the full freight shortly after the completion of loading, which on its own was still a large amount of money reaching owners pockets shortly after the voyage started. South American market kept brighter with Handysizes still able to get rates in line to last fixtures for Trans-Atlantic business. Supramax rates for trip via Red Sea with redely Port Said improved through the week. No business to the East was reported concluded this week from this area.
Handy (Indian Ocean/South Africa)
Very weak trade from this area allowed charterers to take Supramax tonnage on short period at levels similar to the Pacific waters, but with the advantage of having less steaming to South America. Two units were booked for loading South Africa one to Atlantic and the other one to Pacific destinations; the aps rate plus ballast bonus agreed for the trip to Singapore/Japan was much lower than the reported level of a similar size doing straight trip from India to China with much shorter duration.
Banchero Costa and Co Spa
|Most Recent Related Articles|
14 Sep 16
14 Sep 16 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »
13 Sep 16
13 Sep 16 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »
29 Aug 16
29 Aug 16 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »
15 Sep 16
15 Sep 16 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »
12 Sep 16
12 Sep 16 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »