Tuesday, 11 October 2011 18:00:03 (GMT+2) -
Capesize (Atlantic and Pacific)
Despite the holidays in the Far East area which slowed down the market and the activity, there was a firmer fixing mood at the middle of last week and higher rates were fixed for October business on iron ore West Australia to China. It was also reported that Rio Tinto fixed about 10/12 vessels at rates ranging from $10.50 up to $11.35. The Atlantic market resumed as well and there were some rumours of one Capesize to have fixed $35,000 for one Trans-Atlantic round. Brazil/China rate was reported at $27.50 for end October dates and a touch under $ 26.00 for November shipment.
Panamax (Atlantic and Pacific)
The both sides of the market turned significant firmer during the Chinese holiday. The Atlantic market went up thanks to some fresh cargoes appearing in the market. By the end of the week, Trans-Atlantic business was talked at $15,000- $16,000 daily and trip to the East from U.S. Gulf turned extremely firm, reaching $27,000 plus $700,000 bonus. However, there was still large number of ballasters from the East, which made a big question about further trend of the market. The Pacific side also climbed up a lot, with charter offering $15,000 daily to Japan positioned LME for Nopac round and vessel in S.China could gain $13,000-$13,500 daily for an Indonesia round trip. Short period biz became hot and rocketed to $14,000 daily level quickly.
Handy (Far East/Pacific)
Despite the holidays, trading activity carried on regularly through the week. Activity concentrated on Supramax sized coal trips from Indonesia to India. Rates remained on the previous week's level for the larger sizes whilst the less numerous reported fixtures for smaller Handies showed they still enjoy a firmer market.
Handy (North Europe/Mediterranean)
No reported activity was available for cargoes loading from the Black Sea and the Mediterranean waters. Business from the Mediterranean Sea was very quiet. Activity was said to be carrying on and kept confidential from the Black Sea where levels were described stable. Fresh chartering interest rapidly grew from Northern Europe, but was mostly limited to larger sizes. Handymax rates were agreed at quite firmer levels for scrap to the East Med and a stronger rate was also agreed for a Supramax performing a trade from North Europe to East via Cape of Good Hope. The general trend allowed owners to fix at better levels for positioning cargo into Americas, to compensate the longer duration.
Rates improved through the week because of a sudden shortage of large Handies all along the American Atlantic coasts. There was also ongoing demand for loading South America and U.S. Gulf/Caribbean. More fixtures were reported concluded for loading ex South America and rates started to climb up, but the market out of the U.S.Gulf still proved to be stronger. Several Supramaxes were fixed for Trans-Atlantic businesses to Continent or Med. Rates were all over the $25,000 mark and were not necessarily influenced from the final redelivery range. Similarly U.S.Gulf/Far East rates stabilized to figures over $30,000 daily with a fixture peaked at $35,500 daily which major Korean charterers were forced to pay premiums for positional needs.
Handy (Indian Ocean/South Africa)
With China celebrating its national holiday for the whole week, the iron ore trade from India literally disappeared and the Supramax owners with tonnage in that area struggled to find their way out. At least there was small interest for Indian coastal business and South African loading stems to India round and the Far East destinations. The very few fixtures reported showed levels to keep more or less similar to last dones. According to the local rumours the trip via South Africa to the East was paying around $1,000 daily premium over the India round. No news was available for activity with smaller sizes, however the units coming open at Bengal bay ports were said to fetch nice money for Indonesia rounds back to India.
Banchero Costa and Co Spa
|Most Recent Related Articles|
22 Aug 14
22 Aug 14 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »
21 Aug 14
21 Aug 14 | Steel Prices & Market Analysesiron ore , raw mat , Australia , Brazil , China , India , Far East , steelmaking , Istanbul | similar articles »
05 Aug 14
05 Aug 14 | Steel Mattersiron ore , raw mat , Australia , Brazil , China , India , Europe , freight , trading , Brescia | similar articles »
26 Aug 14
26 Aug 14 | Steel Mattersraw mat , Turkey , Australia , Brazil , China , Morocco , Spain , Italy , Japan , Egypt , Singapore , Europe , trading , Algeria , Brescia | similar articles »
26 Aug 14
26 Aug 14 | Steel Mattersiron ore , raw mat , Australia , Indonesia , India , Europe , freight , trading , Brescia | similar articles »