Capesize (Atlantic and Pacific)
Despite Capesize Index is closed to his historical lowest level, bottom of the market seems to be still far. In Pacific the key route West Australia/Qingdao settled closed to $6,50 while from Richards Bay charterers were talking low $11 for Qingdao discharging. For a backhaul cargo from Richards Bay to Rotterdam, it was reported a fixture at $6 and there were owners willing to repeat same levels. In Atlantic from Brazil to go to East rates were closed to $17 while for a round in Atlantic charterers paid $4,000. Period market was again quiet: 3/5 months fixed at $9,500.
Panamax (Atlantic and Pacific)
The market on both sides improved for the whole week. Early candidates in N. Atlantic were fairly tight with rate talked at very high teens for fronthaul business. For S. American biz charterers had more options and could take vessels from Indian Ocean at $10,000 daily or from SE Asia at $9,000 daily passing Singapore. Rates for Transatlantic rounds were stable by the end of the week with candidates in Passero fixed at $8,500 daily level. For Pacific business, since a part of the fleet was absorbed by ECSA or USG rounds, owners managed againg to fix DOP basis and rates were at around $6,000 daily for Indonesia round or little bit more for NOPAC round. However the number of requirements from Indonesia was still far from being enough to allow rates to raise or to hold. Short period trading was also quiet and some 82,000 tonners were said to be fixed for s/p at $8,000 daily.
Handy (Far East/Pacific)
A slow start of the week kept rate levels quite low. Rumours about a possible bottoming were not shared yet by all players. Little chartering demand was mainly concentrated on SE Asia loading business where Supramax rates remained in the low/mid $7,000 daily level for InterPacific employments. More and more owners decided to ballast their tonnage away; this in connection with some awakening interest, ended up showing better fixtures at end of the week. A Supramax performing Indonesia/East Cost India with coal was fixed at $8,500 + $110,000 bb. Short period stabilised around $10,000 daily. Smaller Handies, that were already getting better rates for the previous weeks, fetched even firmer rates on single trips.
Handy (North Europe/Mediterranean)
A sudden improvement of the Supramax market in Continent quickly brought market back to attractive levels. A trip to Far East via Cape was agreed at $19,000 daily, while $14,000 daily was agreed for a short period redelivery Atlantic. More fixtures were rumoured but not reported from this area: it seems that rates for fronthaul trips are now fixing over the $20,000 mark level. From Black Sea, despite a small demand, a lack of prompt Supramax available allowed owners of spot tonnage to fetch firmer rates which have already climbed to mid $20,000's for fronthaul. Little and slow demand was registered for smaller Handies.
Handy (USA/N.Atlantic/Lakes/S.America)
The market strengthened for all Handies fixing from USG/North Coast South America region. A larger benefit was enjoyed by smaller Handies which got fixed at the same levels of Supramaxes for Transatlantic trade. Supramax owners however cannot complain with TA at mid 20,000's levels and fronthaul business in the high 20,000's level. Firmer market generated additional short period interest for all sizes. Activity from South America was slow.
Handy (Indian Ocean/South Africa)
Smaller amount of Supramax tonnage available in the India/Persian Gulf region and the costs for trading pirates infested areas appeared to start bringing some positive trend to rates. A couple of Supramaxes were booked on short period: a non-eco-type was fixed for $10,000 daily dely Persian Gulf and a nicer, eco-type got over $15,000 daily for dely South Africa. Single trips were kept confidential, but it's rumoured rates improved on local trips and trips out to China.
Banchero Costa and Co Spa
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