Capesize (Atlantic and Pacific)
The market softened a bit because charterers were very aggressive pushing down rates, but an upper sentiment kicked in approaching the end of the week. West Australia/China dropped to $8.35, but by the end of the week was at about $9. Also timecharter rates firmed up when a 172,000 tonner was reported fixed at $11.750/d. Brazil/China rates slightly improved for end of October delivery and are now in the $22.00 range. Atlantic market is not very active, but there were rumours of a 180,000 tonner being fixed at around $8,500/d for a round with delivery Cont prompt.
Panamax (Atlantic and Pacific)
The market kept recovering during the whole week with Baltic Panamax Index closing at 871. Atlantic market became fairly hot while market players were discussing about the sustainability of the booming trend. By the end of the week there was some TransAtlantic business concluded at $7,500/d and Fronthaul trips from US Gulf talked at $16,000/d + 600,000 bb. Some owners with tonnage open Brazil started thinking to compete for USG business. In Pacific the recovery was encouraged by the Atlantic market and by a large number of Spot/prompt cargoes from Indonesia. By Friday a candidate in CJK was fixed at over $7,000/d for a trip from Indonesia to Japan. NoPac was concluded at similar levels with candidates in Korea/North China. Period rates were affected positively with talks at $7,500/d for 4/7 months and $8,500/d levels for 2 years.
Handy (Far East/Pacific)
The end of Chinese holidays brought more Supramax activity in the area especially for cargoes loading from South East Asia. Most of the activity however was still for Coal cargoes to India that were concluded at rates similar to the previous week (well over $10,000/d with aps dely) apart from larger premiums required for West Coast India discharge. North China discharge kept fixing at around $2,000/d discount compared to East Costa India, whilst Nickel Ore cargoes got better rates. More interest was registered for short periods on Supramax with daily rates unchanged at around $9,000/d. There were fresh enquiries for large grain stems loading US North Pacific. Australia and backhaul business were quiet. Handysize market was quiet as well apart from a 31,000 tonner that was agreed at a good $11,500/d for a trip from WCSA to FarEast.
Handy (North Europe/Mediterranean)
Activity was again very quiet all around Europe and North Africa with no fixtures reported concluded. A little more interest was seen out of Black Sea, but the only two fixtures reported showed a messy trend: a large, fancy Supramax fixed at $7,500/d for a trip with redelivery Red Sea and a 34,000 tonner booked at $7,000 daily.
Handy (USA/N.Atlantic/Lakes/S.America)
Good amount of business out of US Gulf with Supramax rates similar to last the dones on TransAtlantic employments and slightly improving for FarEast trips. Handy market was very quiet from US Gulf, but was better ex S. America; no fixtures were reported, but rates for TransAtlantic trips were around $9/10,000 daily. The preference towards smaller stems affected Supramax activity from S. Atlantic with only one fixture reported for a trip with grains into FarEast at last dones levels.
Handy (Indian Ocean/South Africa)
There was a lack of enquiries from this area and tonnage open in these waters suffered. A fancy Supramax delivering APS Persian Gulf agreed a $8,000/d for 3/5 months commitment and another unit was rumoured at $7,500/d for a trip from S. Africa to Persian Gulf. Some owners with tonnage tonnage coming open East Coast India preferred to wait and see by fixing 7/10 days duration coastal trips. Rates in the $7/8,000/d are giving a better daily result compared to ballasting into Singapore or South Africa areas.
Banchero Costa and Co Spa
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Internet: www.bancosta.it