Capesize (Atlantic and Pacific)
The market surged during the first four days of the week and then collapsed on Friday of 259 points. It appeared to be a sell-off of paper that caused this fall notwithstanding the volume of available business is still good in all areas. T/A round went to $ 25,227, Pacific round $ 23,429 and fronthaul down to $ 44,696 after BHP fixing about 10 ships from West Australia to China and Rio Tinto making a similar move. The Atlantic market was also lowering with today reported fixture of m/v Bulk Africa 170,000 dwt built 2002 open Rotterdam 19 September being reported fixed for one T/A round with E.On at a low $ 23,500 daily, a considerable decrease from last reported at $ 30,000.
Panamax (Atlantic and Pacific)
The Atlantic market turned firm by the end of the week, thanks to a lack of prompt vessels and more fresh cargoes in the market. USG business to the East stood at $25,000 daily plus 500,000bb and Transatlantic business also got some improvement to $14,000 daily level. There was also a short period fixture in the Atlantic, at very good $19,000 daily. Pacific side seemed to touch the ceiling and was trending softer. Nopac or E. Aussie business were done at $13,500 daily for N.China positions and candidate in S.China could gain $14,000 daily. Short period biz was still at good level with grain house taking several vessels for period in Far East at $14,000 daily.
Handy (Far East/Pacific)
The ongoing positive trend was underlined by larger period interest both for Supramax and Handysize tonnage. Besides a variety of concluded short period fixtures for Supramaxes, with a few reported agreed at better Usd 14,500 daily hire rate, it was significant to see reported top class charterers Dreyfus booking a 52,000 tonner for one year at an unexpected Usd 13,500 daily. Unconfirmed rumors circulated about a modern Handysize agreed at over Usd 11,000 daily for the same duration. Fresh enquiry from SE Asia lead trips into the Indian Ocean fixed at improved levels. Also rates for Nopac rounds had a positive trend even though charterers still managed catch some tonnage at lower money.
Handy (North Europe/Mediterranean)
Trading quieter from North Europe with no reports of concluded fixtures available; rates were said to be keeping at previous levels. Out of the Black Sea was more active, even if most of the business concluded was kept hidden. Reported fixtures showed rates to be firming up for trips out: a Supramax have been booked for 2 laden legs via US Gulf to Far East at very high levels, but it still need to be considered that the 2nd leg starting ex the US Gulf in present market is worth about Usd 12,000 daily over the agreed figure.
Handy (USA/N.Atlantic/Lakes/S.America)
Activity was slow from Atlantic Americas. A shortage of large tonnage is building up in US Gulf; this was positively reflected on the trips out which ended up into two Supramaxes booked at Usd 32,000 and 32,500 daily for trips to Spore/Japan range. Rates for Transatlantic business did not show yet this situation and tonnage delivering nearby is booked in the mid Usd 20,000 for trips to Europe or around the Usd 15,000 mark if delivering on the European side. Rates were better for East Med due to the troubles related with the next employment (typically from Bsea to East through Gulf of Aden). Activity was slower from South America both for Supras and Handies, although the smaller units still enjoyed better market compared to depressed rates out of US Gulf.
Handy (Indian Ocean/South Africa)
The market appear to be brighter for owners of Supramax tonnage in this area. Reports of concluded business were quite small, but the Usd 12,000 agreed for a WC India/China iron ore trade is surely a good improvement, also taking into consideration the longer duration from this coast where, besides the longer steaming, also the on going seasonal weather is against despatch. The Usd 11,500 paid basis delivery WC India back to load Iran for discharge China are looking even better, both for the rate, but also because is a new trade which is consolidating allowing owners to be less Indian dependent.
Banchero Costa and Co Spa
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