Capesize (Atlantic and Pacific)
Bearish sentiment was predominant in the Capesize market. West Australia/China was at $9/mt on Monday, but shaved $1/mt during the week and settled at $8/mt. More interests from E Australia were noticed, but hire rates were lower and lower going from about $20,000/d to low $10s upon the closing. There was lack of interest from charterers out of Brazil, Tubarao/Qingdao cargoes fixed on Friday in the mid $18. Atlantic was possibly even worse with literally no fresh cargoes for spot dates and TransAtlantic rounds with owners offering $7,000/d or so without getting fixed.
Panamax (Atlantic and Pacific)
Very quiet and slow week in Atlantic with not many fixtures reported and mainly on voyage basis. USG/FEast was still around $13/13,500/d + 300/350,000 bb. Not so much activity for Atlantic RV that was mainly done on voyage basis with very low timecharter equivalent. From ECSAm rates were a shade higher than the previous week: fixtures were around $14,000/d + 400,000 bb for trip to FEast and $10,500/d + 150,000 bb for trip to Cont/Med. In Pacific little changes were seen, Monday was holiday in China, and charterers were pressuring down on rates that however hold at last dones. Fixtures were reported around $8,000/d for Australia RV and $9,000/d for NoPac RV. Period activity was very quiet with short periods at around $12,000/d for a nice Kamsarmax.
Handy (Far East/Pacific)
As a consequence of growing interests in WAfr, two backhaul fixtures were reported with charterers parceling building materials. Both units were fixed basis dely China: a 48,500 dwt got $8,500/d for 65 days and $11,000/d balance and a 50,500 dwt got $6,750 for 65 days and $10,500/d balance. The area remained crowded, but a large number of fixtures were reported at last dones and sometimes slightly better rates. Spot Supramax activity was no longer restricted to Indonesia loadings. A 58,000 dwt got $11,000/d basis dely Shanghai area to load steels ex N China and S S Korea to EC India. A 52,000 dwt got $10,000/d from Spore via Australia to Persian Gulf. A 61,000 dwt got $11,000/d + 350,000 bb basis dely N Pacific for a trip back to FEast. A 52,000 dwt was fixed at $9,500/d basis dely Japan for a trip with nickel ore via Philippines to China. Smaller Handies remained at previous levels. Owners prefere to keep their tonnage in the area considering the negative trend affecting the Atlantic basin.
Handy (North Europe/Mediterranean)
All trades originating from this area remained quite dull. The ongoing lack of enquiries from N Europe affected rates for scrap to E Med; two Supramax were reported on this trade at $11,000/d and $12,500/d. Another Supramax to Far East achieved $16,000/d; this level is hard to achieve basis dely BSea from where no fixtures were reported and trend is still negative. Grain exports to N Africa decreased in volume and charter rates decreased $1.5/2 pmt. From E Med cement and clinkers to WAfr were paying higher rates.
Handy (USA/N.Atlantic/Lakes/S.America)
Larger demand for Agriproducts out of ECSAm was so far unable to drive rates upwards. Even if a good portion of tonnage was fixed owners kept suffering competition of the Panama tonnage piling up in the area. A dolphin type got $13,000/d for a trip to Europe and a sister vessel got the same rate with same dely, but 350,000 bb for a trip to FEast. A few fixtures were concluded out of S America to WAfr: a 55,500 dwt got $14,000/d and a 30,000 dwt $11,500/d. A 50,000 dwt got $10,000/d basis dely ECSAm for a trip to Red Sea and redely Port Said. From USG the market worsened further: a 55,000 dwt dely Texas fixed at $4,250/d to carry pet coke to to Brazil and a 58,000 dwt got $15,750/d to FEast. A dolphin type was booked for 2/3 laden legs basis dely NCSAm and redely Atlantic at $10,000/d. At the end of the week two similar units were booked from USG to Med and from S America to Med at the same rate, possibly the two markets are aligning.
Handy (Indian Ocean/South Africa)
Slow activity and limited interests, however a 58,000 dwt fixed at $9,500/d basis dely S India to carry iron ore from India to China. Apart from that fixture activity was limited to shorthaul voyages with raw materials between MEG and India at softening rates. Iron ore exports from Iran to China were more active and at firmer rates. Handies were doing better in particular because of growing interests to move bagged rice from India to MEG and to WAfr.
Banchero Costa and Co Spa
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