Capesize (Atlantic and Pacific)
The Capesize sector went through an interesting week with a flurry of fixing. Most of the fixtures were on the West Australia to Qingdao route with rates reaching $11.80 level. Fronthaul rates remained firm with several operators fixing between $28 and $29 depending on dates of the shipment. Just one cargo was rumored done in excess of $29 by STX Panocean. Improved activity was registered for Trans-Atlantic rounds and again several iron ore cargoes were reported from St. Lawrence to China, Far East and Middle East. The BCI average of the 4 T/c routes reached $28,350, the Trans-Atlantic round was reported at $32,000 and the Pacific round at about $22/22,350.
Panamax (Atlantic and Pacific)
The Atlantic market improved, especially by the end of the week, largely because it was influenced by the fronthaul business ex USG. Some vessels in USG were said to have seen $27,000+700,000 ballast bonus while the Trans-Atlantic round was stable due to limited fresh new business; it was still being talked between $16,000 to $17,000 daily. The Pacific side as well showed some positive sentiment, by Friday, a good vessel in Japan was done at mid/high $13,000 daily and the short Indonesia round went up to $13,500 daily for S.China vessels. There was some more demand for short period and rates were talked at high $12,000 daily for 4/6mos and low $12,000 daily for 1 year or longer.
Handy (Far East/Pacific)
Market trend was still negative with further reduction on some trades largely due to the persisting amount of available prompt tonnage in the market. Also the Indian Ocean Basin was showing softer rates. Supramax owners with tonnage open Indian coasts agreed cheap rates for East bound business via Indonesia and China, causing further pressure to the spot market. Tonnage open North China was fixed around $9,000 daily at the beginning of the week for Indonesia rounds and some $1/2,000 less for trips to India. The week ended with a vessel fixed at only $5,000 daily for India destination. North Pacific rounds were booked in the region of $8,000/8,500 daily and large tonnage was said to be worth around $4,000 daily for backhaul. In this doom atmosphere owners got a little optimism from the 12 months period market that appeared improved when a Supramax agreed $11,000 daily and another one was then reported at $12,200 daily.
Handy (North Europe/Mediterranean)
Market operators still managed to keep most of the fixtures concluded in this area confidential, however it was clear that market was trading up, especially for those owners willing to take fronthaul business and risk ending up in the Pacific market. The East Mediterranean via the Black Sea and GOA to the East showed larger Handies fixing at low $30,000s. Some charterers agreed to redeliver back in Med on a business via GOA to India at a rate well over the Atlantic levels. Since most of the owners are unwilling to trade via GOA the Atlantic bound business did not improve. Tonnage available at North Europe still went East only via the Cape at daily rates over $25,000 daily.
Handy (USA/N.Atlantic/Lakes/S.America)
Charterers still have to pay a premium to convince US Gulf open tonnage to trade to Far East, however Trans-Atlantic rates were said to have improved to mid/slightly high $20,000's. The South American market remained more active with the smaller Handies still enjoying firm rates. Charterers involved with East Coast Canada/Algeria grains covered their Handysize stem by taking delivery in the Caribbean, and still paid decent rates considering the longer duration.
Handy (Indian Ocean/South Africa)
There was more interest for iron ore to China and Supramaxes taking this business were concluded at around $8,000 with delivery India. Rates were too low to allow others to book Supramaxes with same delivery for trip via Indonesia and Australia to China. The rest of the market was active in the area with several non-definite business circulated around. A fancy Handysize fixed 12 months period with delivery at South Africa.
Banchero Costa and Co Spa
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Internet: www.bancosta.it