Capesize (Atlantic and Pacific)
The Capesize market was very dull with few reported activities. The Atlantic rates kept on decreasing while the week was ended with $19,650 reported for a Tubarao/Qingdao voyage. The Pacific activity suffered due to the cyclone affecting West Australian Coasts. Port Hedland to China was reported in the $7.80 / $7.75 level. Rates for period dropped accordingly with several short periods reported at Index linked for the first several months and balance between $10,000 and $11,000.
Panamax (Atlantic and Pacific)
Pushed by the South American grain trade the Atlantic market kept going firm. Lots of ECSA fronthaul business was done during last week attracting many vessels from India and Southeast Asia. Moneywise an LME could get $16,000 daily plus $600k bb for aps dely Brazil or about $10,500 del India. The Transatlantic was also slightly firmer, but the rate didn't improve too much. The Fareast market also turned positive with the Nopac business talked at about $8,000 daily for Japan positioned vessels and charterers were willing to discuss between $9,000 to $10,000 daily for spot/ppt LME in S.China. Short period went up with the spot market and by the end of the week owners were asking around $10,500 to $11,000 daily for 4/6mos.
Handy (Far East/Pacific)
The large number of Supramax fixtures showed improved activity especially in mineral export out of South East Asia. A regular flow of coal keeps on going to India resulting in firmer rates. Moreover owners can now manage to get higher differential depending on the redelivery coast. Bauxite as well kept being moved from the same area into China, but on this route leading rates were agreed by tonnage loading nickel ore since the high moisture content of this cargo still deserves a premium despite the dryer season. On other trades fixtures were more limited and concluded at lower money, with NoPac and Australia rounds booked at $10/11,000 daily with delivery Far East. Some short period fixtures were concluded at $10,500/11,500 daily level. However the week closed with a large Supra fixed at lower rates for Indonesia/India coal run with delivery mid China. Smaller Handies were enjoying as well firmer rates for Pacific business; this put into trouble those charterers who were seeking units for Atlantic directions that ended without owners interest back.
Handy (North Europe/Mediterranean)
There was lots of noise about market improving around the European coasts but, if this will prove to be true, the better agreed deals must have been kept very much private and confidential. The small number of reported fixtures didn't show any better figure agreed for loading Continent where Supramax get unattractive levels and demand for smaller Handies is still missing. The Black Sea market improved by over $500 daily for fronthaul Supramax business and it was rumoured that owners taking long duration business to Americas managed to obtain from charterers a hire escalation over the first two months duration.
Handy (USA/N.Atlantic/Lakes/S.America)
The number of fixtures concluded for loading Atlantic Americas was larger and better rates were said to be agreed, but most of the fixtures were confidential. Because of the limited amount of tonnage available for fronthaul business rates shown some improvements, but US Gulf was still the less attractive area for owners. Much better rates were seen from US Atlantic waters where Supramaxes where loading scrap to East Med at rates almost 20% higher than USG (usually tonnage ballasts to USG to get premium rates). Freight rates kept firm for all sizes loading S. America with smaller tonnage achieving the best on transatlantic routes and the larger one on the Fronthaul.
Handy (Indian Ocean/South Africa)
Chartering interest was very small in the Indian Ocean. The volume of enquiry for Persian Gulf iron ore trade to China was much limited and no fixtures were reported. Demand for loading iron ore out of India was even more limited, but owners of larger Handies could still find good rates fixing their tonnage for Indonesia coal rounds. Activity for smaller Handies registered only one fixture for an aged 37,000 tonner back to East Med at a decent rate.
Banchero Costa and Co Spa
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