Capesize (Atlantic and Pacific)
The Capesize market, after a pretty flat start, finally registered improving rates during the second half of the week. In pacific on the standard W Australia/Qingdao route $7.80/mt were agreed showing an improvement of $0.5 pmt if compared to the start of the week, all the majors said to be in the market. However they key point of the improvement was led by new enquiries from Brazil which absorbed some ballasters. Tubarao /Qingdao stood at around $19.75/mt basis end of May dates, this is almost $1/mt more than previous week In Atlantic, despite the usual lack of fresh cargoes, the market was basically pushed up by Bocimar who took at least 7 Capesize for TransAtlantic round voyages with fronthaul options at levels around $8/11,000/d for T/A and $30/32,000/d for fronthaul. Period business was almost inactive.
Panamax (Atlantic and Pacific)
With national holidays all around the world the Panamax market remained flat with not many fixtures reported. From N Atlantic owners preferred to fix quick Baltic RV at rates around $3,5/4,000/d if redely Continent and $1/2,000/d premium for Passero redely. Rates for Continent/FEast were still over $14,000/d. From ECSAm rates to FEast remained steady around $15,000/d + 500,000 bb and some fixtures were reported for trip to Med at $12,000/d + 200,000 bb. In FEast the few fixtures reported showed a slowdown with the holidays: NoPac RV were done at around $8,000/d, similar to Indonesia RV and a shade more than the Australia RV agreed at around $7/7,500/d. Not much interest for period business that was around $11,000/d for short period and $13,000/d for 1 year commitment.
Handy (Far East/Pacific)
Last week activity was slow mostly due to national holidays in Japan and S Korea. New fixtures started emerging only by the mid of the week showing a negative trend especially for prompt single trips. A fancy 58,000 dwt agreed only $11,500/d for a trip with coal via Indo to EC India basis dely Spore. An Ultramax got $7,000/d basis dely China for a trip via N Pacific to Cont and similarly a 56,000 dwt got only $6,500/d basis dely N China via S Korea to Brazil. A 52,900 dwt was fixed at $12,500/d basis dely Japan via NoPac to SE Asia, an unattractive rate especially considering owners allow loading Soda Ash and Scrap.
Handy (North Europe/Mediterranean)
Fresh interest to carry steels from BSea resulted into two Supramax reported fixed; unfortunately it only confirmed how low the rates are still from this area. Both vessels were agreed at only $11,500/d basis delivery Greece and Marmara Sea. From the same loading area a 16 years old 47,000 tonner agreed only $5,000/d basis dely aps Russia and redely Egyptian Med. On similar sizes also clinker to WAfr showed very poor levels with a 56,800 dwt reported at $7,700/d basis dely Atlantic Morocco and another similar vessel at $7,750/d basis dely Greece. Only Handysize business was reported concluded from N Europe showing once again how smaller sizes are enjoying a better market in this area: a trip via Baltic to the Egyptian Med was concluded at $11,500/d on a 37,000 tonner and a 34,529 dwt got $12,599/d to carry steels from N Europe to Italian Adriatic.
Handy (USA/N.Atlantic/Lakes/S.America)
Out of Atlantic Americas more activity was registered compared to other areas. The week started slow, but soon charterers were rushing to book before the labour day. A Supramax agreed $15,000/d for a USG/FEast trip and a slightly smaller unit got $12,000/d for 2/3 laden legs and redely Atlantic. A few Handysize were booked at stable rates: a 37,000 dwt got $8,500/d for a trip Recalada/Skaw Passero, a slightly smaller unit got $8,750/d basis dely EC Guatemala to carry Nickel Ore to Greece. A Supramax was rumoured fixed at a better $8,000/d basis dely USG for a trip to Brazil. The week ended with some lower fixtures such as a Supramax getting only $11,900/d for a trip Recalada/Skaw Passero and two Handysize with same dely done at $8,350/d to Algeria and $7,500/d to non specified Med waters.
Handy (Indian Ocean/South Africa)
Once again no news of concluded business from this area. Some chartering enquiries were quoted during the week, more for PG loading than India. South Africa appeared to lack any demand.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it