Capesize (Atlantic and Pacific)
Negative week for Capesizes with rates going down in both basins BCI index dropped 293 points (8.50%) on weekly basis In pacific the Waus/China route has seen below usd 10 and f/h done below usd 24 with pessimistic sentiment for the next week due to the rising number of ballasters coming from East and lack of fresh cargoes. In Atlantic situation can be considered as divided in 2 parts: rates down from Brazil requirements whilst Canada, Columbia and Narvik cargoes have to pay premium over Brazil cargoes due to tightness of available tonnage in the Continent.
Panamax (Atlantic and Pacific)
Market performed quite separated this week with Atlantic and Pacific biz in wholly different world. Baltic exchange index kept rising for the whole week but trend for drop has appeared. Atlantic market became firm quickly for the lack of early vessels. Rates for both Trans-Atlantic and fronthaul biz recovered rapidly until the end of the week. Pacific market kept dropping down for most of the time except for the mid week which may be lifted by Atlantic market and some fresh inquiries. There still remains too much tonnage in the market and even will be more considering fronthaul biz in the past weeks. Indian biz also went soft significantly this week and activity was scarce to see. There were some demand remained for period biz and rates also climbed up slightly.
Handy (Far East/Pacific)
An initially very depressed market showed to stop decreasing further through the week. Some situations described as positional, generated a few fixtures concluded at improved levels on the North Pacific round run, where both Supramaxes and Handysizes were reported achieving better Time-charter figures. Supramax business loading Australia paid higher levels than North Pacific, even if rates from the East into India were still very low, owners of the larger units feel a bit more optimistic also in light of the on going period interest at slightly improved rates. Smaller handies are seeing much less demand and in some cases they were rumored to be taking T/C levels well below the $ 10,000 mark for local trips
Handy (North Europe/Mediterranean)
A reasonable volume of scrap trade was still going on from the Continent to the East med showing Supramax and Handy-size tonnage fixing firmer rates this week. The Black Sea stayed into its uncertain trend still suffering from the Ukrainian wheat export ban. A few vessels were confirmed to book for trips to middle and Far East at unattractive rates. On the other hand larger tonnage going for more than one laden leg Atlantic business/short period is not ale to get fixed at more than $ 15/16,000 daily, which is still 25/40 percent less than the eat-bound rates.
Handy (USA/N.Atlantic/Lakes/S.America)
With some pressure still going on for Trans-Atlantic business where Supramax owners have struggled to induce charters pay over the low $20,000' s daily, better feeling were enjoyed by seeing the U.S.Gulf to the East trade more active with a number of vessels reported well over $ 30,000 daily and one even over $35,000. South America wasn't that good for similar sizes but at least brought joy to smaller Handies which through an increasing demand saw rates rise.
Handy (Indian Ocean/South Africa)
The number of Supras reported fixed from India to China was still not large enough to keep all the available tonnage busy, but it was larger than the previous week and showed a rate increase of $2/3,000 daily or even slightly more due to positional reasons. A 39,000 tonner fixed a better rate from Persian Gulf to Med, perhaps also due to a required November cancelling date to load sulfur.
Banchero Costa and Co Spa
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