August 23– August 29, 2014 Weekly market report.. Banchero Costa

Wednesday, 03 September 2014 09:44:47 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

A positive week for the Capesize market with rates going up for TA and fronthaul voyages. In Pacific WAustralia/Qingdao remained pretty flat with Rio Tinto and FMG active in fixing ships around $9.10/9.20/mt basis delivery mid September. On the key route Brazil/China, despite the lack of cargoes from Vale, rates improved due to a smaller number of ballasters available, fixtures concluded at $24.50/24.65/mt for end Sep deliveries. Even in the Atlantic the limited number of vessels open end Aug/beg Sep led to remarkable improvements with $11,250/11,500/d agreed for TA RV. Few fixtures reported for period with a small Capesize fi ed at $19 750/d for 1 ear basis del ppt in F East and a modern 179 000 d t fi ed 15/18 month at $23 500/d fixed 19,750/year dely 179,000 dwt fixed 23,500/basis Muscat dely.

Panamax (Atlantic and Pacific)

Positive Atlantic market with rates improving, especially for Cont/Baltic loadings. Baltic RV was fixed at $7,000/8,000/d while TA RV was still resulting in low timecharter returns. Quite good rates were seen from USG and ESCAm to F East: nice lmes are done around $15,000/d + $500,000 bb. BSea market seems quieter than the last few weeks, not much activity registered. Also the Pacific market had a good week: rates improved all over with interesting levels for trips to India (from where fresh business is very limited during this part of the year). NoPac RV is still an aps market with rates over $6,000/d + $300,000; Australia RV was done at $5,500/6,000 and same levels have been seen for Indonesia RV. Short period was fixed at $8,500/9,000/d, no fixture reported for longer period.

Handy (Far East/Pacific)

The F East market for Handysize was stable with rates for Indonesia RV to India between $8,000 and $9,000/d for a standard Supramax. Ultramax basis dop SE Asia were reported around $10/11,000/d for the same trip. Few fixtures for SE Asia destinations with levels between $6/8,000/d for Supramax depending on vessels' specification and position. At the beginning of the week rates were expected to improve but such feeling was progressively abandoned as fixtures were done.

Handy (North Europe/Mediterranean)

The Cont market seems to have improved, but most of the fixtures were not reported. There were rumours of a Handysize 28,000 dwt fixed at the equivalent of $9,000/d on voyage basis with a fertilizer cargo from Cont to SAfr, a standard Handysize grain cargo was fixed around $8/9,000/d direction Algeria. Not many reports for Supramax apart from a period fixture of a Dolphin, 56,000 dwt, basis dely N Spain at $10,000 for 3/5 months redely Atlantic. In BSea levels to Atlantic were stable. A cargo (25,000mts of grains) for Cont destination was rumoured fixed and failed at around $16.50/mt for technical problems, while a 27,000dwt was fixed at $15/mt basis for a clay cargo from the BSea to Spanish Med on voyage basis. There were no rumours of fixtures for fronthaul although it remains the best paying route.

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

Supramax in USG were active during all last week with rates for USG/Med between $13,000/14,000/d on aps basis. On fronthaul business a 57,000dwt was reported fixed for a trip to Spore/Japan rge basis dely aps USG at $21,000/d. From NCSAm and USG to Med Handysize were between $8/10,000/d while for a trip to MEG from USG an unknown charterer claimed seeing a Handysize rating in the low teens. Brazil/ECSAm market slightly improved for Supramax: there were rumours of a Dolphin 57,000 dwt fixed basis dop Lome at $11.750/d for a trip via Brazil to Indonesia, while a 63,000 dwt was rumoured fixed for a trip basis dely aps Recalada via Plate to Australia at $13,000/d + $350,000 bb. An Handysize for an Atlantic route ex ECSAm was reported to have fixed/failed at $30.75/mt for grains to Algeria on voyage basis, the same business was refixed in the high $20's pmt.

Handy (Indian Ocean/South Africa)

The SAfr/Indian Ocean market was quiet during last week. Coal business was said to have fixed and failed in the high $15/mt on voyage basis for 50,000 mts of coal out of SAfr to India. Some fixtures were reported instead for short period at around $8 000/d basis dop for 3/5 months redely ww A single trip from India to S Korea was reported at $6,000/d on a 57,000 dwt.

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


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