May 7– May 13, 2012 Weekly market report.. Banchero Costa

Tuesday, 15 May 2012 15:29:08 (GMT+3)   |  
       

Capesize (Atlantic and Pacific)

There was very limited business in the Atlantic last week. There have been reported some T/a rounds and trips but details were failed to emerge. TC trip from Tubarao to Qingdao has been done at about $20.70. In the Pacific, the West Australia/Qingdao run remained under pressure with rates still fixing at $7.50 while a backhaul round, Port Kelang to Spore-Japan, was done at $12,500 daily for modern tonnage. The Baltic Capesize Index edged down by 4 to 1,614. The Pacific Capesize reported the mv Ocean Shine fixed by Cargill for spot delivery Port Kelang on a trip via the Atlantic with redelivery Singapore-Japan at $12,500 daily.

Panamax (Atlantic and Pacific)

By the end of the week, the Trans-Atlantic market decreased further with rates being talked at $13,000 daily level. For the grain business ex East Coast South America to the Far East, rate still remained at a low level, about $17,000 daily plus $700,000 bb. The cargo list in South America was mush shorter than weeks ago. In the East, spot LMEs in S.China were temporarily hot and fixtures were done at very low $10,000 daily for Indonesia/Australia round. The tonnage in N.China was not so lucky due to insufficient Nopac cargo. More spot vessels were ballasting south and fixed on passing Taiwan del bss. Short period busines went up a bit in the beginning of the week, being rated at midhigh $10,000 daily but turned soft gradually as the time moved on.

Handy (Far East/Pacific)

Since it was still unclear about how the nickel ore export hick-ups will be solved, the chartering interest was smaller with rates further reducing. Consequently there was a smaller amount of reported fixtures, although the volume of available tonnage remained quite huge. Supramax size delivering at Japan was booked at low $9,000's for a North Pacific round, while a 55,000 tonner was said to get only $8,000 daily for trip via New Zealand to the Far East with a delivery at North China. $6,000 daily was agreed for a 58,000 tonner on a trip to the U.S. West Coast with delivery South China. The on-going negative trend in other areas has made the Indian Ocean a better market for owners. A reasonable $11,000 daily was agreed for a Supra delivering North China via New Zealand to India, and then a bigger Supra fixed the same rate plus a small ballast bonus for an aps delivery at the loading port.

Handy (North Europe/Mediterranean)

There was some more activity of Supramax stems from Northern Europe. As a result a large boat was agreed at better $19,500 daily from lower Baltic into Southeast Asia. The fixture was even better if we consider the desirable redelivery range within the Pacific waters. A slightly smaller unit was also agreed at better rates of $17,5000 daily to carry scrap into the East Med. From the Mediterranean/Black Sea there was less news available to judge the actual trend. The Supramax fronthaul business was described as much firmer but few fixtures were reported. By the end of the week, a 57,000 tonner was said to have fixed on subs a strong$20,000 daily for a trip from the East Med to the Middle East Gulf. Handysize vessels were still struggling to find acceptable business. The $8,250 agreed on a modern 28,000 tonner for 3/5 months commitment with delivery Gibraltar was worse than it looked, considering charterers were positioning her to Latin Americas with a backhaul business from Morocco rather than a ballast leg.

Handy (USA/N.Atlantic/Lakes/S.America)

The small amount of concluded activity out of the USG didn't prevent a fancy 56,000 tonner to grab a strong $20,500 daily to carry scrap from this area into Turkey. There were still a few enquiries available from this area to the East, as owners with open units in the Atlantic nowadays tend to temporize until the end before booking. But the preset sentiment was that the market in this area did not have sufficient strength to improve further. South America stayed active with smaller Handies still enjoying the best spot market and owners of larger tonnage preferred to remain standby or fix trips which can keep their units on this side of the Atlantic.

Handy (Indian Ocean/South Africa)

Fresh interest to ship Handymax and Supramax coal stems from South Africa to India has brought a better trend to larger Handies in the area. A Supra was reported fixed on this trade at a round voyage rate much more encouraging than what the same vessel would have achieved for a North Pacific round with delivery N.China/Japan range. It was also rumoured that the fixtures concluded on this trade were more than one. Due to these fresh developments owners with tonnage still available on the Indian coasts were resisting to charterers cheap rates for Indonesian coal rounds. Activity was otherwise lacking from these waters with the on-going exception of the demand for smaller Handies to load bagged rice from Bengal Bay to West Africa.

Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it 


Similar articles

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials

India’s SEML subsidiary secures mining rights to iron ore block

26 Mar | Steel News

Major steel and raw material futures prices in China - March 26, 2024

26 Mar | Longs and Billet