Capesize (Atlantic and Pacific)
Capesize market was very volatile during last week . During the first part, the Atlantic market was very quiet and in the Pacific rates were heading South: West Australia to China was fixed closed to $9/MT. From Thursday, charterers tried to take advantage of lower rates and started to offer cargoes more and more aggressively; this drove rates up. At the end of the week fronthaul was reported fixed up to mid $22/MT bss Tubarao/Qingdao and West Australia/China was talked in the high $9/MT.
Panamax (Atlantic and Pacific)
The BPI continued its slow drop during last week. For the trips within Atlantic, rates were talked at around 3,000 daily level and flat. Fronthaul trips from US Gulf were still under pressure being fixed at $13,750 daily + 375,000 bb level, a slight slide from the level of the previous week. In the Pacific there was still some support from Indonesia coal to India and West Australian iron ore to Fareast. As a result modern candidates in S. China could still secure $7,500 daily for such a Pacific round and vessels in Japan were also talked at such level for a trip via East Australia. Short period interest was still limited at rates in the high $6,000 daily.
Handy (Far East/Pacific)
This area has become the place were the largest number of fixtures are concluded. This is not due only to the excess of tonnage available as rates agreed kept steady/slightly improving. Most of the action is still on the coal from Indonesia to India, China rounds with iron and nickel ore and some backhaul business with Supramax rates slightly improving as well. Activity out of Australia and US West Coast was almost dead on Supras. A little period interest was seen with a 52,000 standard modern tonner agreed for 4/6 months at $8,500/d. The two sole fixtures reported on smaller Handies confirmed that this segment keeps doing better, with a 28,000 tonner fixing a nice $6,500/d for a trip from Japan via Cape of Good Hope to Continent and a nicer unit fetched $8,000/d for a trip with steels loading Japan, discharge in a better area of South East Asia.
Handy (North Europe/Mediterranean)
Very slow activity all around these waters. No fixtures were reported concluded. Some scrap was still said to have been moved from North Europe to the East Med. A Supramax was rumored to have been agreed at only $8,000/d and another similar unit said to have done similar business on voyage basis at $14/Mt. Interest for Fronthaul trading to the East and Backhaul to Atlantic Americas was very quiet. From here the sole chartering action seen was on the usual grain Handysize stems to North Africa. A few fixtures were concluded on private terms at rates said to be quite lower compared to previous week.
Handy (USA/N.Atlantic/Lakes/S.America)
Fixing out of Atlantic Americas became less attractive for owners. TransAtlantic rates softened in particular for Continent redelivery. Stems out of USG for East Med kept quite steady fixing in excess of $10,000/d. Fronthaul Supramax trips were still done in the 15/16,000/d level from USG whilst South America delivery was lower. An Handymax was fixed at only $8,250/d for a trip with dely Praia Mole and redelivery FarEast. Handysize activity lacked with rates now softening and more in line with larger units.
Handy (Indian Ocean/South Africa)
Activity again was extremely slow limited to local trading between Persian Gulf and India. Freight rates remained at similar levels to previous week. A large Supra fetched higher rates, $7,000/d, to carry Salt from WC India to FarEast. A few more enquiries were seen in the market mostly voyages with Minerals from Persian Gulf for local trades and grain stems out of India that hopefully will speed the activity up.
Banchero Costa and Co Spa
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