Capesize (Atlantic and Pacific)
The Capesize market registered another considerable increment last week. The Capesize 4 T/C routes rate surged by $1,153 to $28,888 daily on last Friday, which indicates a $4,149 increase in one week. The Front-haul business was reporting a Cape delivering in the Med with iron ore via the Black Sea and Suez to the Far East fixed at $ 50,000 daily. And the Atlantic round was being talked in excess of $33,000 daily. In the Far East the iron ore from West Australia to China was fixed at about $12.00 with the usual major charterers and $27,000 was concluded for Brazilian round back to the Far East with a delivery WC India.
Panamax (Atlantic and Pacific)
The Atlantic market was a little quiet with few vessels fixed, fresh cargo was also limited. The Trans-Atlantic business was done at $14,000 daily. The vessels' spot/prompt in USG were still struggling due to rather few matched cargo in the market, which made such business talked at just $24,500 + 450kbb level. The Pacific side dropped significantly due to the fresh cargoes were far from accommodating such large tonnage available in the market. Charters could only pay $11,000 daily for S.China vessel for Indonesia round voyage and similar rate for Nopac with Japan positioned vessel. Until the end of the week, the market still could not find support. Short period business also stepped down, talked at $12,000- $12,500 level.
Handy (Far East/Pacific)
The Supramaxes stayed active through the week with better money agreed on the Southeast Asian round voyages. Improved rates were also seen on trips to India, but were proportionally smaller. That was due to some tonnage opens prompt at India failed to secure business from closer loading area, they have to compete on the Indonesia/India range. Improved fixtures were also seen on backhaul business where the larger Handies were paid around the $10,000 level for the first couple of months duration. Demand was smaller for loading ex North Pacific with levels staying quite similar to previous week. The period interest went on with a 2 years deal concluded at quite better figures and improved rates were agreed on shorter durations. There was much less concluded business reported for smaller Handies although rates for same were said to be involved with a very similar trends of the Supramaxes.
Handy (North Europe/Mediterranean)
Fresh chartering demand from Northern Union quickly pushed the rates up. Agreed rates were much better for the scrap intothe- East-Med trade and firm rates were paid for trips to the East including the ones via Cape of Good Hope, involving the additional couple of weeks steaming of the GOA transit. A reasonable amount of fixing from the Black Sea showed that market was slightly better than the previous week, but rates were not as good as the ones suddenly becoming available out of the Continent.
Handy (USA/N.Atlantic/Lakes/S.America)
The constant demand for Supramaxes to load ex U.S. Gulf and NCSA for Trans-Atlantic direction kept hire rates stable to previous week with some improved fixtures concluded. No activity was officially reported concluded from this area into the East but strong rumours circulated that the rate for a fancy large type on this trade has to be in excess of $32,000 daily. The trend for these sizes was softer from Atlantic Latin Americas where weaker rates were seen agreed for Trans-Atlantic business and nothing was heard on the east-bound trade. To the contrary owners of smaller Handies enjoyed a better market from South America compared to the struggle for fixing the units available in the U.S. Gulf.
Handy (Indian Ocean/South Africa)
A bit more Supramax and Handysize fixtures were reported from these waters, with some rates still in contradiction. The T/C rate agreed was slightly improved from west coast India to China, a slightly smaller boat fixed much less for loading out of Iran to the same discharging area. Unexciting level was agreed for a trip to South Africa while a more positive rate was agreed for short period with delivery East Africa. The on going large volume of rice stems exported by EC India allowed one of the most customary operators covering this trade, to arrange a Handymax sailing into West Africa, at rate which wasn't bad at all considering that in spite of a longer duration the business will end up at Atlantic waters. The week nicely ended with another Supramax reported agreed at a quite firmer rate for a trip via Middle East Gulf to China.
Banchero Costa and Co Spa
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