Capesize (Atlantic and Pacific)
Another quiet week in the Capesize market. Activity improved in the Pacific basin, but in Atlantic was very limited. The Baltic Capesize Index however improved by 50 points (+4%). Key route West Australia/China was fixed between $7/mt at the beginning of the week and up to $7.4/mt on Friday.
Brazil/China trade was steady in the $17.5/mt level. Some period interests were registered at rates around $10,000/d for 6/12 months.
Panamax (Atlantic and Pacific)
A very positive week with fresh requirements in both basins. The feeling is that a new positive trend is beginning again. Indonesian coal cargoes to China and India kept the Pacific market busy. There were also a good amount of requirements in NoPac and some Australia to Persian Gulf cargoes popped fresh in market encouraging good rates. In the Atlantic basin the activity improved on all the usual routes and in particular the ECSAm grains to FEast were catalyst. Some ECSAm cargoes for second half May/beg June were preventively put in the market by charterers in order to try and secure the low rates that market reached after the holidays. The positive sentiment affected also period activity.
Handy (Far East/Pacific)
Chartering activity was regular during last week with most of the business still concentrated on cargoes loading ex SE Asia. Owners played tougher trying to increase freight rates, but, as shown by fixtures reported, not always worked. Some charterers short of time agreed to pay higher rates whilst others managed fix at lower rates. The mixed result was evident in particular on the coal trade to India. No fixtures were reported for business loading NoPac where Handysize owners were quoting in the $8,000/d for round voyage, whilst the market is more realistically in the $6/7,000/d. Several interests for Supramax short period, in the region of $9,000/d, but no fixtures were reported.
Handy (North Europe/Mediterranean)
Fixtures reported from this area were scarce, although there were rumors that more business was concluded on confidential basis. Handysize rates for trips with dely Cont improved as shown by the 27,000 tonner reported at $11,000/d with dely Portugal for a trip with grains to NW Africa. Larger units got more interest for trips into the Persian Gulf for which charterers evaluating tonnage around $15,000/d. Rates from BSea were described as improving. Backhaul business to USG is earning anywhere between $ 3/5,000/d depending on size and duration.
Handy (USA/N.Atlantic/Lakes/S.America)
A slow start of the activity from Atlantic Americas ended up into a steady market with rates, both for TransAtlantic and Eastbound trips, in line with previous week or better. A 17 years old Handymax achieved $20,000/d to carry nickel ore ECCAm to E. Med; a very unit got only $16,250/d for a pet coke cargoe from USG to Cont. A large 56,000 tonner was booked at $22,000/d to load coal from NCSAm to E. Med. Supramax rates to Spore/JPN range were around $22,000/d, but a 58,000 tonner agreed $17,000/d with dely dop WAfr to perform a ECSAm Feast voyage. An 18 years old 43,000 tonner fixed $8,000/d basis dely retro WAfr and redelivery Morocco. Short period confirmed market is healthy with a Supramax Achieving $10,000 +$400,000 bb with delivery USG and redely worldwide basis min 80 days duration, and a 56,000 tonner fixing $14,750/d for 2 laden legs with dely Caribbeans and redely Atlantic.
Handy (Indian Ocean/South Africa)
Despite a total lack of reported fixtures the local market is still described active and healthy. Most business was for 30/45,000 mt bulk grains out of WC India to Red Sea/EC Africa ranges. Normally these cargoes are fixed on voyage basis at rates equivalent to $12/14,000/d basis aps load port dop discharging port. Charterers involved with smaller stems of rice on India/WAfr trades struggled to limit sky high rates asked by owners.
Banchero Costa and Co Spa
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Internet: www.bancosta.it