Capesize (Atlantic and Pacific)
It was again an unexciting week for Capesize. Business trended sideways/downward and activity reported was not relevant. In the Pacific a vessel was fixed at $7.35 from Port Hedland to Qingdao and $7.5 from Dampier while there were still large amount of vessels reported looking for employment in Singapore. Richards Bay to China was rumoured to have been fixed at $12.80. In the Atlantic there was some talk about front haul voyage trading between $19 and $19.50, substantially unchanged from the week before. The Trans-Atlantic round was steady at around $5,000.
Panamax (Atlantic and Pacific)
The Atlantic market was still struggling during last week. Vessels in US Gulf were hardly able to find Transatlantic business while the fronthaul to Far East was also talked at very low level, around $15,000 daily. ECSA saw more cargoes with forward laycan which was expected to hold the market levels. In Pacific the market finally saw some upward trend which was influenced by the increasing ECSA grain. Moneywise, charterers were talking about $9,000 daily passing Singapore for LME. For a single Pacific round charterers were still willing to talk basis aps delivery only at about $6,000 daily plus $120k bb level for Indonesia round or $6,000 plus $350k bb for Nopac. There were some short periods with rates at $9,000 daily for 4/6mos delivery China.
Handy (Far East/Pacific)
Even though freight rates were very low a large amount of available prompt tonnage resulted into a large number of Supramax fixtures. Most of the tonnage in the area was at Time-Charter at much higher rates than the local market and the disappointed disponent owners running spot tended to fix what they could in order to cover at least a part of their losses. The leading route was still coal to India, mostly loading Indonesia. In the bunch of the vessels fixed some achieved slightly better rates and others managed to keep levels similar to last dones. Owners' hope is that the market stopped decreasing. A couple units achieved higher levels on NoPac rounds, while the short period was still fixed at dreadful rates, even if at the end of the week a couple of boats were taken at $2,000 daily more. Reports for smaller sizes were scarcely available, but market remained slightly below the Supramax types. Some Supramax owners that previously decided to ballast into the USG are approaching a collapsed market.
Handy (North Europe/Mediterranean)
North European market was quite dry of business. One Supramax was fixed at very low $2,000 daily to carry grain from United Kingdom whilst another similar boat was rumoured to have agreed $10,000 for a trip with scrap into the East Med. The situation in Med was even worse. Enquiries were a little more active, but the larger amount of open tonnage rushed dragging down rates. A Supramax was fixed from the West Med to West Africa at high $5,000, while a similar size delivering in the same area was fixed to US Atlantic Coast at zero with charterers just paying for the bunkers. Tonnage able to trade Red Sea and Gulf of Aden still achieved better rates.
Handy (USA/N.Atlantic/Lakes/S.America)
South American market started moving a little better for Handysize owners who were fixing at similar rates for trips to Europe and to WCSA. Considering the firm demand for tonnage to go East from Central and West Coast South America the triangulation may end up in a profitable result compared to ending up in European waters. Supramaxes were surprisingly getting lower rates although they should have achieved some benefit with the subsequent leg. The market from the U.S. Gulf was lousy on the TransAtlantic trade. East bound business was very small and ballasters from China brought further reduction to rates. Similar sizes coming open in US Gulf were hardly getting $10,000 on TC for East Med destinations and upper teens on voyage. Similar sizes loading at NCSA were paid better on the TransAtlantic runs. The only reported fixture from US Gulf to Far East was at more than $ 10,000 daily over what the same vessel would have achieved on a Transatlantic run. There were a few fixtures reported for smaller Handies, but a 28,000 tonner on the US Gulf/Caribs run got $8,000 daily compared to $6,000 reported on a fancy 55,000 tonner for similar business. That leaves a lot of thinking on how the smaller units managed to resist to the downwards trend in certain areas.
Handy (Indian Ocean/South Africa)
India/China Supramax trade was still extremely weak being fixed even lower than for a South African coal round to India. Supramax short period showed to pay better compared to the Pacific Ocean levels.
Banchero Costa and Co Spa
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