Capesize (Atlantic and Pacific)
A negative week for the Capesize market with rates softening in all basins. In Pacific the standard West Australia-Qingdao route went below $4/mt with $3.80/mt agreed a couple of times for ETA W Australia 20th August onwards. Timecharter rates were in the region of $5,000/d for Pacific RV whilst the Saldanha Bay/Qingdao was a bit more volatile with rumors of deals done in the range of very low $6’s/mt basis second half August dates. Brazil to China was traded in the high $8's/mt whilst the Brazil to UKC was fixed in the region of $4/mt. The Atlantic registered some more activity with some cargoes to East Med loading from Colombia fixed at equivalent basis on standard Bolivar-Rotterdam of $4.45/mt. Almost absent the activity for fronthaul via North Atlantic.
Panamax (Atlantic and Pacific)
During last week the Panamax market kept softening. Despite this, a little increase of activity was reported especially from the USG area where a 76,000 dwt was reported having fixed $10,000/d + $180,000 bb for trip to F East. For similar trips via USG an 80,000 dwt was fixed at $9,750/d basis Gibraltar delivery while for trip to Continent a Kamsarmax fixed $7,500/d basis USG delivery. Levels from ECSAm remained stable for front haul business with a 82,000 dwt fixing $7,500/d + $250,000 bb for trip to F East, while for trip to Continent there was a slight reduction in hire levels with a 75,000 dwt fixed around $7,500/d basis redelivery Skaw-Gibraltar. In Continent a Kamsarmax was reported having fixed $10,000/d basis Liverpool delivery for a trip via Murmansk to China while for the same loading port a similar size was agreed at $5,750/d basis Hamburg delivery for one trip discharging in Continent.
From F East a 76,000 dwt fixed one trip via Australia to China basis delivery Indonesia at $6,000/d while a tick more was done on a 82,000 dwt fixing South China via Indonesia to India at $6,250/d. Levels seen for NoPac RV were a tick lower with a 82,000 dwt fixing $5,700/d basis delivery South Korea. A reduction in levels was reported also on the period front: a 73,000 dwt was agreed for 6/9 months at $5,400/d.
Handy (Far East/Pacific)
The surplus of available tonnage, in particular for larger units, caused a larger number of spot fixtures agreed, at softening rates. A 63,000 dwt with dely Vietnam agreed a trip with logs via New Zealand to India at a lower $7,500/d. A similar type was fixed from Philippines to N China at $8,300/d basis delivery Taiwan with nickel ore. Another similar unit was fixed on a backhaul from Central China to Med at $4,250/d for the first 60 days and $7,000/d for the balance of the trip. A smaller Ultramax achieved $5,000/d for the first 60 days and $7,250/d for the balance basis dely S Korea and redely W Africa. In the Supramax segment a 57,900 dwt agreed $7,150/d to perform a trip with nickel ore basis dely S China via Philippines to China; a non-fuel efficient 55,000 dwt agreed a flat rate of $4,500/d for a trip from S Korea to SW Africa and other similar units were booked to carry steels from Nord Pacific to SE Asia in the low/mid $6,000’s/d levels. A 56,700 dwt with dely N China was committed for a 5/7 months period with redelivery worldwide at $6,750/d.
Handy (North Europe/Mediterranean)
Very slow activity was registered in Med and BSea range, but this did not affect the rates: a large Ultramax agreed to move clinker from Morocco to WAfrica at $9,500/d and a similar unit agreed a long duration trip to Bangladesh at $14,000/d from BSea. From the same loading area a non-fuel efficient 55,800 dwt was rumored at $12,900/d for a trip from B Sea to India, then the deal was said to have failed. No concluded fixtures were reported basis loading North Europe where rates were said to have generally maintained the previous levels.
Handy (USA/N.Atlantic/Lakes/S.America)
A larger amount of ballasters had a negative impact in this area; this was particularly evident on larger tonnage and in S America. A 53,000 dwt was fixed from Argentina to Algeria at $7,750/d, from the same area an Ultramax got $7,100/d to Med whilst a fancy 58,000 dwt agreed a trip to F East at $9,500/d + $95,000 bb. A 56,000 dwt achieved $7,000/d on a trip to Red Sea with redely Egyptian Med and a similar vessel was fixed $8,000/d basis US Gulf delivery to carry wood pellets to North Europe and a 55,000 dwt got $8,000/d for grains to Algeria. A small Ultramax agreed a rate of $9,250/d for a trip to East Africa. Two Handysizes were fixed at $11,500/d for trips to West Coast Central America.
Handy (Indian Ocean/South Africa)
Poor demand drove reported fixtures to new lows. A standard Supramax with dely Pakistan agreed to perform a trip via MEG to China at $4,300/d whilst a 34,000 dwt agreed $3,500/d for a trip from Red Sea to SE Asia and a similar unit was fixed at $3,650/d for a trip fromWC India to China.
Banchero Costa and Co Spa
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