Capesize (Atlantic and Pacific)
It seems the revival in the Capesize market have been of short duration particularly in the East. Following the terrible earthquake in Japan the BCI decreased by 204 points and the 4 t/c routes declined by $1,669. The iron ore rates West Australia/Qingdao were now close to $7.00 and there was little activity on time charter. The Atlantic rates were also weakening with the Brazil/Continent going down again at about $9.40/9.50 and the Brazil/China also decreasing close to $19.00 and the corresponding t/c rate about $ 21,500 level. On the long period time charter the only relevant fixture reported was the Mv Mineral Beijing 174,000 dwt built 2001 fixed for three years at $17,000 to Rio Tinto with delivery spot Singapore.
Panamax (Atlantic and Pacific)
Influenced by the softer demand from South America and serious earthquake in Japan, the BPI trended down day by day in the past week. The Atlantic market was divided; biz in the Atlantic went soft to end the week with a normal Trans-Atlantic round talked at $16,500 to $17,000. However, fronthaul biz to the East was still firm mainly because few owners are willing to go to the Pacific. Charters were willing to pay $27,000 plus 700,000 bb or even more for the right candidate for a trip from USG or ECSA to the East. The Pacific market kept roughly unchanged with some prompt cargoes need to be covered. Indon round voyage was talked at $15,000-16,000 for a south China positioned vessel while Aussie round and Nopac biz gained a little more at about $17,000 level. Demand for short period still remained the same with 4/6 mos done at $17,500-18,000.
Handy (Far East/Pacific)
The Japanese events were said to have lowered down the shipping activity, but a large number of fixtures were reported concluded at rates which were supporting a positive trend. The larger chartering interest is still for loading ex Indonesia, mostly to carry coal to India with still some nickel ore back to China and less interest to move coal this way. India-bound stems were mostly covered at rates similar to last dones although some positional situations allowed owners to grab firmer rates. Nickel ore back to China still deserves a premium rate due to owners' reluctance to carry. Activity for north Pacific and Australia rounds was smaller with steady rates. At the end of the week the spot market became more active on taking Supramaxes on short period with latest concluded deals showing a good increase on rates. There were few fixtures reported done with Handysizes but better rates were available both for single trips and short period commitments.
Handy (North Europe/Mediterranean)
The market stayed very quiet in this area, the chartering demand was more oriented to Handysizes. A fresh flow of scrap enquiries from the north Continent pushed up rates to the Med, also in connection with owners still avoiding trade Gulf of Aden and asking a premium for ending up near to the Black Sea. The on-going piracy troubles in the Somali area was still making big troubles to charterers trying to fix larger east-bound cargoes from the Black Sea. The good enough market from the Atlantic Americas allows that tonnage to find a decent employment across rather than trading through very risky areas.
Handy (USA/N.Atlantic/Lakes/S.America)
The U.S. Gulf persists to be the best market for Supramaxes out of the Atlantic Americas. Trans-Atlantic rates basis delivery in the loading area showed several ships booked into the upper $20,000' for trips to north and south Europe, with rumours of a fixture from Venezuela to the Continent agreed at $30,000 and rates to the East generally standing in the low $30,000's level. Towards the end of the week the market showed a slow down from this area of the larger units while smaller Handies kept achieving quite firm levels. The South American market was similarly firm for the smaller sizes with charterers mostly interested for European and North African destinations. The South America activity was as well limited to the Atlantic business for the larger sizes, which showed to agree at less attractive levels, possibly also due to a lack of demand for eastbound business.
Handy (Indian Ocean/South Africa)
A less active demand to load iron ore from India to China generated some decrements to rates. However it's necessary to mention that the very low rate agreed by Mv King Freight to perform a coal South African round was due to owners' intention of finding a quick employment for her, when she was redelivered without notice from previous charterer K-Line. The actual Time-charter rate for this trade is actually $1,000/1,500 daily higher than the previous employment. There was otherwise some more activity ex Persian Gulf and east Africa with rates agreed not far away from last dones and some short period deal concluded at realistic enough rates both for large and smaller Handies.
Banchero Costa and Co Spa
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