April 25, 2015– May 1, 2015 Weekly market report.. Banchero Costa

Tuesday, 05 May 2015 17:04:00 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

Flat week for Capesize with the activity concentrated on the first half of the week due to the holidays on Friday. In Pacific little changes were registered compared to the previous week and rates remained in the region of $4.40/mt bss mid May laycan with all the majors in the market. Positive signs were registered for cargoes from Richards Bay to India with $6.50/mt concluded basis for early May dates. Trades from Brazil showed some fresh activity, especially due to the presence of Vale rumored taking some ships, and the rates were brought slightly up with $10.30/mt agreed on Thursday for a trade bss Tubarao / Qingdao for the second half of May. The Atlantic Market was very quiet with a fixture from Bolivar to Rotterdam, mid May dates, agreed at $5.35/mt and a couple of Capesizex fixed for a trip from Tubarao to Rotterdam at an improved $5.35/mt. Front haul from N. Atlantic was still under pressure with owners forced to agree around $8,500/$9,000/d for timecharter trip to F East basis delivery UKC.

Panamax (Atlantic and Pacific)

The South American market, that have been driving the Atlantic market for the last few weeks is now slower since most of May stems are already covered and rates that remain quite low for June and July Last week May dates were steady around $12,000/d + 200,000 bss aps delivery and around $22/22.50 on voyage basis. TransAtlantic RV was done around $11,250 + 125.000 bb. North Atlantic is very slow with little demand and little tonnage available. Some decent fixtures were available from W Med/WAfr range for trips via USEC and USG to F East with rates around $10,500/11,500/d. Baltic and Cont RV were agreed around 5/6,000/d. BSea was inactive. In F East rates remained under pressure and many units were considering to ballast West bound. Indonesia RV was around $4,000/d + 40,000 bb basis aps dely India redely and around $1,000/d higher for nice Kamsarmaxes. China redely was around $3,500/d + $35/40,000 bb basis Panamax, the gap might be closing soon. NoPac was evaluated around $4,500/d and Australia RV a tick lower on LME Panamax. Short period activity was alive in the area at around $7,000/d and $7,250/d for one year.

Handy (Far East/Pacific)

Supramax market still registered poor demand while the fixtures reported were similar to previous week. An Ultramax delivering Philippines got $8,500/d for a trip via Indonesia to WC India, while trips to China from the same loading area agreed the usual $5/6,000/d, a level similarly to shorter inter SE Asia trips. At the beginning of the week a fancy Supramax basis aps NoPac delivery for a trip back to the F East was rumored at a rate well in excess of $7,000/d + $200,000 bb, but no further details emerged. Afterwards a 57,000 dwt with heavy consumptions was reported fixed for the same trip from Taichung at $6,000/d. More available reports on Handysize fixed at unattractive rates, apart from an exception for steels ex F East/CIS Pacific which showed slightly better levels agreed around $5/6,000/d for trips into SE Asia. Otherwise an 18 years old 27,000 dwt agreed an awkward $4,050/d via Indonesia to WC India.

Handy (North Europe/Mediterranean)

Despite good volume rates were slightly softer both from N. Europe and Black Sea. Fronthaul from Cont registered a 57,000 dwt carrying fertilizers fixed at an unimpressive $10,500/d for a trade to India. Proportionally a fancy 38,400 dwt caught a bit better $9,000/d for F East direction and a 23,000 size, elder vessel, basis redelivery Egyptian Med was reported at a good $8,000/d. For backhaul trading a 31,900 dwt delivering at U.K. fixed a trip via White Sea to ECSAm at $4,500/d, while from S Europe an Ultramax delivering at Passero agreed a low $4,200/d for a trip via Brazil into the USG and a 56,000 dwt fixed $5,400/d from B Sea to the USEC. From the same area a 56,000 dwt agreed $8,500/d for a trip to the F East and a 32,000 size accepted a low $4,000/d for a trip to Morocco. A fancy 38400 dwt agreed a quite unattractive $7,000/d for a trip from Morocco to the F East.

Handy (USA/N.Atlantic/Lakes/S.America)

Slower activity started a slightly negative trend on rates. At the beginning of the week a 57,900 dwt agreed only $10,000/d for a USG/SE Asia trade and a second similar vessel fixing on this trade got $10,500/d basis Spore/Japan range. On TransAtlantic trades a smaller 50,000 size was fixed at $9,500/d from NCSAm to Ireland. The same rate was agreed by a 52,000 dwt from Brazil to Morocco, otherwise still from SAm another couple of Supramax were done in the mid $10,000s/d. No reports were made available for smaller sized which were described as going through a declining market.

Handy (Indian Ocean/South Africa)

Trades in the area were still depressed and only a few fixtures were confirmed. A nice 58,000 dwt agreed just $6,500/d basis delivery India for S Africa round into the MEG. From this area some Supramaxes were asking $5 500/$6 000/d for quick trips with limestone to India and getting evaluated by charterers around $3 500/$4 000 /d. Handysize open in this area didn't have any better experience with a 28,000 dwt fixed at $5,500/d from MEG to Comoros and a 32,000 accepting a horrible $2,000/d from WC India to the F East.

Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it


Similar articles

Turkey’s Tosyalı and Abu Dhabi-based AD Ports ink deal for logistics collaboration

26 Jan | Steel News

Latest freight rates from Banchero Costa - November 22, 2022

22 Nov | Steel News

Latest freight rates from Banchero Costa - November 15, 2022

15 Nov | Steel News

Latest freight rates from Banchero Costa - November 8, 2022

08 Nov | Steel News

Latest freight rates from Banchero Costa - November 1, 2022

01 Nov | Steel News

Latest freight rates from Banchero Costa - October 25, 2022

25 Oct | Steel News

Latest freight rates from Banchero Costa - October 18, 2022

18 Oct | Steel News

Latest freight rates from Banchero Costa - October 11, 2022

11 Oct | Steel News

Latest freight rates from Banchero Costa - October 4, 2022

04 Oct | Steel News

Latest freight rates from Banchero Costa - September 13, 2022

13 Sep | Steel News