Capesize (Atlantic and Pacific)
After a few days of weakness, the Capesize market has finally seen a moderate rise, especially in the Atlantic basin where there was lack of tonnage. The Far East also showed more activity esp. with iron ore from Australia to China which closed the week at about $7.50. Despite all that, there had been talk of a ship fixing at $7.75. The fronthaul cargoes were again fixing up to about $19/19.25 and on the period it emerged that Cargill took an 180,000 dwt with delivery Far East for 10-13 months at something over $16,000.
Panamax (Atlantic and Pacific)
In the Atlantic, business to the Far East was still very active. Rates kept stable at around $27,000 plus $700,000 bonuses, slightly lower than the level of last week because of more candidates going to the East. However, Trans-Atlantic biz was comparatively quit with rate soft at $16,500 level. The Pacific market turned firm over the week with a Pacific round like Australia or Nopac biz talked at about $17,000. Influenced by the nuclear crisis in Japan, vessels now can get a premium for calling Japan, with rate at about $19,000 for a Pacific round voyage. There have been reported inquiries for short period at about $17,500 level.
Handy (Far East/Pacific)
Chartering interest for Supramax period fixing between 3/5 to 12 months duration was larger this week. A good number of boats were reported fixed at levels ranging between $16,500 and $17,000 daily, irrespective of the actual duration. Also, a 34,000 dwt new building fetched $13,000/day from a year commitment basis delivery ex yard. The spot market activity was more boring for owners since the coal trades still leading the Supramax activity in Indonesia/India were fixed at rates in line with previous dones or slightly weaker. Smaller Supramax activity on the north Pacific and Australia rounds lead to lowering rates. While nickel ore from Southeast Asia back to China was paying a premium to induce owners to consider. A premium which was not always helping owners to consider the trade at all, due to the large risks connected with the cargo moisture contents.
Handy (North Europe/Mediterranean)
Activity remained slow enough along the European coasts. Scrap trade was a little quieter out of the Continent, but there was fresh interest for Handymaxes to load wheat into the red sea ports (Saudi Arabia and Eritrea). Only one fixture was reported concluded but it was rumored that the stems covered could be more (as a possible loading alternative to the Ukrainian previous origin, which was still banned). The general level for the 40,000 tonners doing this trade was around $15,000 daily mark basis redely at port said. The Black Sea was still slow but decent money was agreed for a 52,000 tonner, and a fancy 35,000 dwt was rumored to have fixed $18,000 delivery Malta via the Black Sea to the Persian Gulf, but was failed on subs.
Handy (USA/N.Atlantic/Lakes/S.America)
South American market kept being a very bright spot for Handy-sizes, with a lot f grain and sugar stems getting fixed and several still waiting to be covered. Rates stayed quite healthy for owners with a modern 30,000 tonner fetching well in excess of $21,000 daily for a trip to North Africa and similar sized tonnage generally achieving nice rates for Trans-Atlantic business. Larger tonnage still didn't face a proportionally good market, no larger size fixture for single trips was reported from this area but similar Supramax tonnage fixed $1,500 daily less for 3/5 months period, compared to other boats delivering in the northern U.S. Atlantic. Market for larger handies stayed better out of the U.S. gulf. This week the major interest was linked to Trans-Atlantic destinations which after showing an initial further strengthening in rates, faded away through the week into softer levels, below the $30,000 daily mark.
Handy (Indian Ocean/South Africa)
India to China iron ore activity kept trading on a low profile showing through the fixtures reported no significant change from previous ones. Larger interest to load Supras ex South Africa into the East and back to India lead to firm rates agreed, which assisted the general market levels for larger units to stay at quite balanced levels. Prompt enquiry for smaller tonnage was very limited.
Banchero Costa and Co Spa
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