August 12– August 16, 2013 Weekly market report.. Banchero Costa

Tuesday, 20 August 2013 13:50:59 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

Rates improved on the West Australia/China route with Rio Tinto and BHP booking vessels at $8.95/mt and $9.25/mt and TCT over $18,000/d concluded. Same good trend was registered for Pacific RV with Anangel Mariner was booked basis TCT at $19,000/d. In Atlantic activity was still affected by the ongoing strike at Drummond's coal mine in Colombia which could last more than expected. Anyhow rates were trending upwards and E.On booked a vessel for a TransAtlantic RV at $12,500/d with an option at $13,500 for a second leg, the option is still not confirmed. Fronthaul rose $1/mt from last week with fixtures concluded just below the $21/mt mark. For period Cargill booked the Cape Kallia 203,027 dwt built 2012 for 5/9 months at $17,000/d.

Panamax (Atlantic and Pacific)

Atlantic was still short of RV, also due to summer holidays, resulting in a growing number of available tonnage. BSea remained very active especially for Med, Red Sea and Feast directions. USG/FEast and ECSAm/FEast remained slow with rates stable, if not lower, and just some premium paid for short trades and not redelivery areas. ECSAm/Atlantic route registered fixtures in the mid/low $8,000/d + $250/275,000 bb. In the East the tonnage list is growing daily, but rates still remained flat in the $6,500/7,000 daily. A lot of Northern Pacific tonnage still keeps ballasting towards USG where expectations are high, but so far charterers and owners are quite distant with their ideas for beginning of September dates ($14k + 400k Vs. mid/low 15k + 500k). Charterers involved with NoPac RV have to compete with USG/FEast rates. Periods registered good numbers sometimes even substantially above the maret with some rumours in the upper $9/10,000 daily for good LMEs.

Handy (Far East/Pacific)

Activity for Supramax tonnage improved and strengthened, however, due to the large availability of prompt tonnage, the result was only a larger amount of fixtures reported without any improvement in charter rates that actually further decreased. Most of this fresh activity was from SE Asia with Coal cargoes to India and Nickel Ore to China. Two similar Supramaxes were fixed basis delivery N China: India trade paid $7,250/d, China redely $9,500/d. Another similar unit was booked basis aps delivery at $7,000/d + $40,000 bb to move coal to China. At the end of the week another Supramax ecotype was rumoured fixed at $11,500/d with aps dely to load Nickel Ore, that as usual requires a premium. Another rumoured fixture was for a modern 55,700 dwt on subs at $10,000/d bais dely N China to load Fertilizers for Pakistan, a good level if confirmed. A fancy eco-type 58,000 dwt was reported at $8,900/d for 3/5 months basis dely Japan and was followed by a 52,000 tonner that was rumoured at low $9,000/d for a similar period bais dely Philippines. Handysize fixtures on Australia RV showed 32,000 tonner achieving $7,000/d and 37,000 dwt done at $6,500/d as a result of longer distance between dely and loading ports.

Handy (North Europe/Mediterranean)

In Cont the only fixture reported was 31,000 mt of grains to Durban at an unattractive $33.50/mt, even if load and discharge are quick, redelivery is still in an area quite dry of business at the moment and ballast to ECSAm doesn' t seem an option at the moment being. From the same area a 34,000 dwt was rumored fixed for short period at $9,000/d and a smaller Handy got $5,000/d for backhaul trip to USG. No fixtures reported from BSea, but the area is still described as active and a 56,000 tonner was rumored at equivalent $18,000/d basis Canakkale to FarEast trip and a 37,900/d at $10,000/d basis dely BSea to India. In Med a 33,000 dwt was on subs for short period basis dely Greece.

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

Supramax rates from USG softened: a 56,000 dwt agreed $17,250/d for a trip to WC Italy, the only TransAtlantic fixture reported on this size. A 52,000 dwt agreed $18,000/d to perform ECSAm/FEast. Interest in USG was larger for Handysize that achieved proportionally better rates. A 37,000 dwt got $15,000/d for a trip to BSea, where good opportunities are at the moment. A 29,900 dwt achieved $13,500/d to carry Coal to Lebanon. A 35,900 dwt achieved $11,000/d from USG to Brazil and a 33,700 dwt got $12,250/d basis dely Mexico for a USG RV. From ECSAm activity for Handies was described as very slow. Owners with tonnage open WAfr prefer to ballast towards Gibraltar rather than ECSAm.

Handy (Indian Ocean/South Africa)

No activity reported last week from this area. Persian Gulf is still recovering from Ramadan holidays and India was very quiet in export.

Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it


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