Capesize (Atlantic and Pacific)
Capesize market was once again flat in both basins. In Pacific, West Australia/China remained in the region of the low $7 while little activity was reported from East Australia. Out of South Africa Saldanha Bay/Qingdao cargoes paid below $13. Out of Tubarao to China there was little activity in the low $17. In Atlantic, the market registered few fixtures at around $5,000/d for vessels with good delivery.
Panamax (Atlantic and Pacific)
A positive week with the Panamax index gaining 101 points to 1196. The Atlantic market remained tight with a good amount of fresh enquiries either from USEC, Baltic and Kamsar. A small amount of candidates in Continent for prompt delivery generated more competition and higher rates.
ECSAm grains remained active. Since ballasters are providing good availability some charterers tried to reduce their ideas, however mid May dates, for those who wanted to fix, remained steady in the 16/17,000/d + bb. Pacific basin trade was mainly focused on Indonesian Rounds which seemed to be the only route able to pay good rates, despite the ECSAm attractive rates. Since NoPac and EC Australia were quieter vessels open in N. China had to reduce their ideas in order to become competitive for Indo RV.
Handy (Far East/Pacific)
Activity was slower at the beginning, but grew throughout the week with Supramax business concentrated on the trades out of Indonesia, in particular Coal to India. Most of the tonnage that was fixed was open near the loading ports. Reported fixtures were at least at levels similar to previous dones or higher. The positive trend was reflected also on other trades, for instance a 42,000 tonner committed for a backhaul trip from N. China to WAfr at $6,000 for the first 65 days and $8,000 for the balance. Previously this would have been the market level for a 52/58,000 size vessel.
Handy (North Europe/Mediterranean)
A 45,000 tonner fixed at $11,500/d from BSea to Spore/Jpn range showed a little improvement on fronthaul business, especially considering the vessel was delivered East Med and not passing Canakkale and the redelivery was FarEast instead of PG/India range. A fancy 58,500 dwt agreed a quite lousy $5,000/d for a BSea/Morocco trade. Grains out of this area were still limited. There were no reports of fixtures out of Continent, but a few Handysize were rumored at lower levels for grain trade with North Africa and Supramax fronthaul was said to keep at last dones levels.
Handy (USA/N.Atlantic/Lakes/S.America)
Fright rates for tonnage in USG and S. America were a bit under pressure due to a slowing demand which ended up in a 51,000 tonner fixed at a lower $17,000/d for a trip Texas Gulf to Continent and a 35,000 tonner agreeing $15,000/d for a trip S. America to Morocco. Approaching the week-end activity improved rates immediately followed: a 56,000 tonner agreed $20,000/d for a trip USD/Greece and a 45,000 tonner got $40/mt for a River Plate/Egypt. Smaller tonnage so far didn't enjoy the upward trend.
Handy (Indian Ocean/South Africa)
A lack of reported fixtures and a small amount of tonnage available prevented a clear picture of the market in the area. The list of Supramax tonnage didn't change much during the week and owners with tonnage open EC India started considering, again, to fix Indonesia round trips even if rates for vessels ballasting from EC India are not that attractive. The only fixture reported is for a too specific trade to reflect market trend and also the vessel is 29 years old. However charterers involved with rice trade between EC India and WAfr are said to be struggling to limit freight levels.
Banchero Costa and Co Spa
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