Capesize (Atlantic and Pacific)
Capesize market looked flat, static and possibly marginally down compared to the previous week. There was general lack of fresh enquiry from Brazil and few fresh cargoes from South Africa. Owners had no choice than to keep their vessels in Pacific and therefore tonnage grew rapidly pushing rates further lower for West and East Australia round. On the other hands Atlantic market itself looked gloomy and operators had no reason to bet on any change of sentiment. Charterers managed to shave some cents for West Australia/China voyage which settled in the low/mid $7/mt for mid May dates. TC for modern vessels out of East Australia to Singapore/Japan range remained in the very low $10,000/d. From Brazil charterers were indicating in the low $18/mt for first half May and $19/mt for the second half. Ships for Transatlantic round voyages got fixed around mid $6,000/mt. Period activity was almost absent with owners still resisting at relative high levels compared to the spot market.
Panamax (Atlantic and Pacific)
Last week the Panamax market saw growing rates from ECSAm to FEast with vessels reported at around $15,000/d + 500,000 bb. Rates were still depressed for TransAtlantic RV because of the long list of prompt tonnage; charterers prefer to work on voyage basis with very poor timecharters equivalent. Pacific market was still steady with fixtures for Australia RV over $8,000/d to China and some discount for Indian destinations because of the better repositioning for ECSAm business. NoPac RV was still around $8,000/d. Period business was active with 1 year agreed at around $13,000/d and short period at $11/11,500/d.
Handy (Far East/Pacific)
Slower activity produced less fixtures reported and owners trying to resist lower rates, but not always succeeding. A 52,000 dwt was fixed at $10,000/d + 300,000 bb basis dely aps WC Canada for a trip to SE Asia and at the end of the week another unit with the same dely was rumored at $10,500/d + 420,000 bb to India, part of the improvement is due to worse redely area. Supramax business out of SE Asia was a little better with a 58,000 dwt achieving $13,000/d basis dely Spore for a trip via Indo to EC India and a 56,000 dwt with same dely getting $14,200/d for a nickel ore cargo ex Philippines to China, another unit was rumored on the same trade at $8,000/d basis dely N China. Short period was in the mid $13,000/d at the beginning of the week and around $1,000 less at the closing.
Handy (North Europe/Mediterranean)
No fixtures reported throughout the week from either sides of the area. Demand was very limited especially for larger units. Some Supramax started ballasting from BSea to Gibraltar looking for employment that was totally lacking in E Med. Frm BSea the trend was better for Handies with a limited, but persisting, amount of grain requirements to N Africa and a few fronthaul to ME.
Handy (USA/N.Atlantic/Lakes/S.America)
The week began with a further demand slowdown all over the Atlantic Coast which put rates for Supramax and Handies under pressure . In USG a 56,000 dwt got only $4,500/d for a trip to Brazil and a 35,000 dwt fixed an unattractive $8,000/d to Peru. TwoSupramax were booked from S America at $12,500/d, the first one with redely FEast got $250,000 bb and the other redely ME $265,000 bb which in comparison do not cover the worst position. The week ended with a sudden ignition of enquiries from S America which allowed 5 or 6 additional fixtures concluded at slightly better levels. At the same time a 56,000 det was reported fixed for a trip from USG to FEast at a still very small $13,000/d.
Handy (Indian Ocean/South Africa)
This area was even quieter than European waters with a further decrease of demand and no news at all for new fixtures.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it