Capesize (Atlantic and Pacific)
During most of last week Charterers in Pacific managed to shave a few cents on the West Australia/China trade, however over the closing rates recovered and reported fixtures were slightly over $7/mt. Activity from South Africa to Far East was limited with owners agreeing low $12/mt level for Richards Bay to South China. The Atlantic market experienced some more appetite even if rates were quite flat around mid $5,000/d for good ship open Gibraltar. Fronthaul activity was positional with fixtures reported in the $17/mt for cargoes from Tubarao to Qingdao.
Panamax (Atlantic and Pacific)
Last week was quieter with rates softening in most of the areas. A shorter list of fresh enquiries and charterers "waiting" attitude also penalized prompt tonnage in both basins. Owners were keener to concede optional legs and in general were more flexible with charterers versus nicer rates. Moreover the coming holidays weakened the feeling on the market with very little business reported. Also the coming week was expected still. ECSAm remained the Atlantic and Pacific market hinge route, but ballasters list is growing. Freight rates were slightly dropping and even there no hurry to fix. Period activity was limited with big gaps between bids and offers ($8,750/9,000 vs $9,750/10,000 in the Far East for short period).
Handy (Far East/Pacific)
Supramax enquiries were irregular during last week. Most of the fixtures were still for loading out of SE Asia to China and India. Levels were in line with the previous week. Charterers interest for short period was reduced, however a 55,000 tonner still fixed $9,750/d for 4/6 months with dely Shanghai. NoPac RV was in the region of $8,000/d, but not confirmed. Smaller Handies agrred good levels with backhaul trip from Korea to SE Asia fixed at $6,750/d for a fancy 32,000 dwt and a slightly smaller unit agreed $7,500/d for a trip with steels from Japan to EC India. At the end of the week a modern 28,000 dwt agreed $6,100/d with dely S. China trip to SE Asia and back to China.
Handy (North Europe/Mediterranean)
Another week with very limited amount of fixtures reported. The local market appears to remain steady, at least at last week levels with a 28,000 tonner agreed at $12,000/d with dely Cont for a trip to Danmark to East Med. From Med a 45,000 dwt was fixed for a trip via BSea to FarEast at $11,800/d with dely E. Med. This fixture suggests that similar trips should be worth around $12,5/13,000/d basis dely Cannakkale and Supramaxes around $14/15,000/d depending on specs. Firmer rates were rumored on bulk grains North Afr/West Med destinations.
Handy (USA/N.Atlantic/Lakes/S.America)
The general trend was a bit softer from South America and USG even if the feeling is that this might be due to charterers' strategy rather than a slowdown of interest. Otherwise it would be difficult to justify a 55,500 tonner fixed at $9,500/d basis dely dop North East Coast of India for a trip to S. America and back to Spore/Jpn range. A 32,000 dwt was fixed at $14,000/d for a trip with grains via River Plate to Tunisia. A 45,000 tonners got $18,000/d to full Med. Out of the USG Supramax business to FarEast was agreed at $21,750/d and for redely Turkey, with scraps, at $ 20,000/d. A 57,000 dwt vessel fixed from NCSAm 2/3 laden legs at a good $15,750/d, but it might be a bit tricky for owners compared to the customary 3/5 months short period.
Handy (Indian Ocean/South Africa)
Stronger interests for loading out of India and Iran brought more activity in the area. A couple of Supramax were booked for trips with Salt ex WC India to China at $11,000/d and $9,750/d depending on the specs. From the same coast another 56,500 dwt got $9,500/d for Iron Ore to China. From S. Africa a 52,000 tonner got $9,500/d with dely SE India and redely FarEast. Probably all these cargoes were unable/unwilling to load Iron Ore from Iran to China that was fixed on a fancy 58,000 dwt at a great $10,500/d basis dely dop EC India. Similar units were said to be worth $14,000/d basis dely WC India.
Banchero Costa and Co Spa
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