Capesize (Atlantic and Pacific)
The market was still affected by the negative sentiment, rates decreased due to huge tonnage in the East. South American cargoes were delayed by heavy rain and a cyclone in Australia forced some ports to closure. By the end of the week, W. Australia rates found the floor in the mid/high $7. The Atlantic market still suffered from a lack of shipment. The fixtures reported were definitely lower than last done dropping to $20.00 for early Feb date. The Atlantic round was reported at $10,000. For the back haul business, it was reported a Dalrymple Bay to Rotterdam fixed at $15.00. That equaled to the cost of bunker, resulted in a negative T/C equivalent.
Panamax (Atlantic and Pacific)
In the Atlantic basin bad weather in Brazil and Argentina shortened the cargo list. For the Trans-Atlantic business some fixtures were done at about $10,000 daily level while fronthaul business hovered close to $20,000 daily by the end of the week. The Pacific market dropped down to an extremely low level due to the coming Chinese Lunar New Year and bad weather in E.Kalimantan and Australia. For a normal Indonesia round, S.China positioned candidate was talked at $5,000-$6,000 daily while for longer trip like E. Aussie round, owners could only get slightly better money. By the end of the week, charterers were more willing to take vessel at about $7,000 plus $250,000 for aps del E.Australia. Rate for short period finally broke $10,000 daily with some vessel fixed at low $8,000 daily level.
Handy (Far East/Pacific)
Supramax rates deceased further due to smaller volume of available business and larger number of open vessels. This affected in particular North Pacific round where every fixture was agreed at a lower rate, ending up into a fancy vessel booked at $6,000 daily delivery ex Japan and another one rumoured at $5,750. Other business was all finalized at dull levels, mostly on trips ex Southeast Asia to Indian Ocean and back to China. A few Supramaxes were reported fixed for short period at levels closer to last dones, but it was unclear if the fixtures reported were recent or agreed earlier. Apart from a reported 31,000 tonner delivery New Zealand for a trip back to the East, there were very few fixtures reported for smaller Handies. Similar size was rumoured to have fixed $5,000 daily for a positioning trip ex Japan to SE Asia.
Handy (North Europe/Mediterranean)
There was little fresh activity from Northern Europe showing the market was very dull . Supramax tonnage appeared to suffer more, smaller tonnage was slightly better with a reported deal concluded into the Med. However, a small Handy agreed only $4,000 daily to fix into the Caribbean with steel. It appeared that the owner took a bit of a gamble doing that, as the smaller units had less choice of employment ex US Gulf area. Black Sea was more active with Supramax tonnage taking less money for Far East bound trips compared to Indian Ocean one. That seemed contradictory because of next employment positioning advantage, which in the present market should make rates go the other way round.
Handy (USA/N.Atlantic/Lakes/S.America)
USG Supramax market started the week soberly, but then enquiries just dried up. The almost total absence of Eastbound enquiries, that was helping the market, caused a progressive decrease on the Trans-Atlantic rates. The week ended showing the trip across agreed well below the $20,000 mark and only the WCS American bound business was still earning some premiums. The trend wasn't much different in South America. The Trans-Atlantic rates stayed at very similar levels to the USG.
Handy (Indian Ocean/South Africa)
Chinese receivers kept importing iron ore from Iran with a few more Supramaxes fixed on the trade at levels very similar to the previous week. There was a little more activity from South Africa with Eastbound business fixing at almost unchanged levels, and the Atlantic destinations agreed at very unattractive levels.
Banchero Costa and Co Spa
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