Capesize (Atlantic and Pacific)
A very positive week for Capesize! Fronthaul routes remained strong with fixtures reported at $22.75/23 pmt for second half September. The Atlantic market remained fairly quiet with unchanged rates due to a lack of vessels and cargoes, strikes at Port Drummond are still affecting the market. Some activity was registered for Backhaul business with rates in the mid $10/mt range. In Pacific the majors were active fixing Western Australia/China in the low $9/mt and higher fixtures were concluded for very prompt positions: $10/mt for a vessel ETA Port Hedland 28 Aug. Also from S. Africa to China rates firmed up with reports of fixtures concluded at $16.85/mt. Pacific round voyage saw fixtures at around $20/21,000/d for very good eco units and options to perform S. Africa or Brazil RV.
Panamax (Atlantic and Pacific)
Rates in the Atlantic continued to slide with a short demand for TA RV. US Gulf remained well served by far eastern ballasters. Levels offered were still in the $15,000 + $500,000 bb versus bids at $14,000 + $400,000, but there are now rumours that some charterers manage to get numbers closer and closer to the mid/low $14,000 + $450.000bb. ECSAm market is much slower, however in the middle of the week a prompt requirement for 2/3 legs within Atlantic found a lack of tonnage. East Med remains steady with good activity in particular from Black Sea. In Pacific activity was slightly more than in Atlantic in particular on Indo RV, 2 laden legs and Australia RV. NoPac rounds are now more than few had to face USG competition with the majority of the owners looking at USG or period as first preference. Period rates continued to show a premium over trip levels, rumours lead to think that this is due to off market grains on USG/FE as first leg.
Handy (Far East/Pacific)
The amount of prompt Supramax tonnage prevented freight rates from rising despite good demand especially of mineral loading out of SE Asia. Supramax were fixed in the $9,000s daily level without ballast bonus for Spore delivery via Indo to N China employments, redelivery India achieved similar rates plus ballast bonuses below $100,000. Approaching the week end rates improved with some fixtures concluded over $10,000/d for dely Spore via Indo to China and proportional higher figures for RV basis. Growing interest for Nickel Ore trade from Indo and Philippines to China pushed up slightly freight rates: initially 3/5 months period was done at around $9,000/d with dely Spore and afterward a similar units got
$9,500/d to perfor 2 consex and another unit agreed $9,750/d basis dely Philippines. It is still difficult to be optimist as the trend of this huge area cannot be driven by just SE Asia exports: demand from Australia and NoPac is still missing.
Handy (North Europe/Mediterranean)
More deals were concluded in this area, however much more activity was rumored around these waters. Larger interest in particular for Handysize with a 17 years old 28,000 dwt achieving $11,000/d basis dely Gibraltar to load Grains in N France for WAfr. From the same loading area 25,000 mts of wheat to Algeria agreed $22/mt. Firmer market in Cont and owners less keen with some directions allowed Cargill to take in a 32,000 tonner ice classed for 3/5 months dely Liverpool at $9,300/d and relet her out for a trip with scrap to E Med at $13,000/d. In Med and BSea few fixtures were available, a 17 years old 45,000 dwt fixed $11,000 for short period dely Morocco. However BSea in particular is still described as an hot spot due mainly to Grain exports, a Supramax was rumored fixed at $17,000/d for a quick trip to Middle East.
Handy (USA/N.Atlantic/Lakes/S.America)
Demand further slowed down impacting negatively freight rates out of USG. A fancy 53,000 dwt agreed $15,000/d for a trip to Cont and another one $14,500/d to E Med. Owners of ppt tonnage are trying to hold, but so far they were not successful. Activity from S America was very limited on all sizes.
Handy (Indian Ocean/South Africa)
Activity was very slow everywhere in the area with almost the only exception of short, low rates, local trips. A 53,000 tonner achieved $7,600/d for 4/6 months dely WC India. After a couple of days another Supramax 56,000 dwt was reported at $9,000 for 3/5 months, more in line with previous fixtures, but a bit confusing since similar units would only get $7,000/d for Indo RV, this does not justify the money agreed.
Banchero Costa and Co Spa
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Internet: www.bancosta.it