Capesize (Atlantic and Pacific)
The Capesize market registered another negative week; freight rates softened both in Pacific and Atlantic markets. The falling bunker prices helped to mitigate the negative impact. In Pacific, all the majors were in the market on the key route from W Australia to Qingdao, but the amount of tonnage available forced owners to fix at levels down to $4.35/mt for mid September dates. Rates on the standard route from Saldanha Bay to Qingdao dropped accordingly in the mid/low $7/mt, with $7.10/mt done for prompt positions. The lack of fresh cargoes from Brazil, together with an increasing number of ballasters, brought rates to very low $9.70/$10/mt level. In the Atlantic basin the activity remained very slow with $5.20/$5.40/mt agreed for the routes from Bolivar to Rotterdam bss mid September dates.
Panamax (Atlantic and Pacific)
The Atlantic market was stable. Trades from ECSAm slowed with around $13,500/d + $350,000 agreed on a very nice Kamsarmax and the TransAtlantic RV was fixed around $9,000/$9,500/d on a standard Panamax for end August dates. A cargo of fertilizers for Baltic discharge was evaluated close to $17,000/d on a standard Panamax. The standard route from USG to F East was agreed around $13,750/d + $375,000 bb, but the gap between owner and charterer’ s ideas was wide. In the Pacific basin the scenario was similar: NoPac RV was fixed upon $7,500/d on standard vessels, even if on LME with a good dely position, Japan, better rates were achieved, up to $8,000/d. Australian RV was agreed around $7,500/d for standard units with China range delivery. Indonesia trips to China were reported around $6,000/d while some premium was paid for India redelivery. Period on a nice Kamsarmax was around $8,500/d for short period and $9,000/d for 1 year duration.
Handy (Far East/Pacific)
The Atlantic market was stable. Trades from ECSAm slowed with around $13,500/d + $350,000 agreed on a very nice Kamsarmax and the TransAtlantic RV was fixed around $9,000/$9,500/d on a standard Panamax for end August dates. A cargo of fertilizers for Baltic discharge was evaluated close to $17,000/d on a standard Panamax. The standard route from USG to F East was agreed around $13,750/d + $375,000 bb, but the gap between owner and charterer’ s ideas was wide. In the Pacific basin the scenario was similar: NoPac RV was fixed upon $7,500/d on standard vessels, even if on LME with a good dely position, Japan, better rates were achieved, up to $8,000/d. Australian RV was agreed around $7,500/d for standard units with China range delivery. Indonesia trips to China were reported around $6,000/d while some premium was paid for India redelivery. Period on a nice Kamsarmax was around $8,500/d for short period and $9,000/d for 1 year duration.
Handy (North Europe/Mediterranean)
Handysizes enjoyed firmer rate on spot employments loading from all ranges of this area, a positive trend which is proportionally reflected on larger sizes. A 38,000 dwt delivery Portugal agreed a good $12,000/d to do a trip via N Europe and Baltic into S Africa. Other two Handysize were fixed via B Sea to Spain at $10,000/d and $9,500/d, both with delivery Cannakkale. On the larger sizes, a 55,000 dwt got $12,100/d for a trade from N Europe. A similar size from the same area was fixed at $13,500/d to carry scrap to the E Med, while a 53,000 dwt delivering at S Morocco got $12,550/d via Spain back to W Africa.
Handy (USA/N.Atlantic/Lakes/S.America)
An active market kept on for Supramaxes and Handysizes both from North and South coasts of Atlantic America; however some deals were concluded at slightly lower rates which may indicate that the market is peaking in the area. Ultramax from S America were reported at $18,000/d and $17,500/d to Med, while a Handysize to WCS Am surprisingly was fixed basis delivery WCS Am at $9,700/d. A similar size did a S America-Morocco trip at quite an impressive $17,500/d. Out of the USG a non fancy 57,000 dwt was reported done to the F East at $18,500/d when it was whispered that a larger fancy type got around $20,000/d for a similar trade. A nice 58,000 dwt carrying petcoke agreed $19,000/d basis dely USG and redely N Europe; a 52,000 dwt with similar delivery did 2/3 laden legs with ww redely at $13,500/d near to 54,000 size fixing 4/6 months period at $13,500/d.
Handy (Indian Ocean/South Africa)
Little improvements on the rates were seen on the market. A 52,000 dwt delivering MEG agreed a good $8,250/d for 4 to 5 months period. A fancy 58,000 size was fixed at $9,000/d plus $180,000 bb for a cargo to F East. Another 52,000 dwt booked a backhaul from EC India to the Continent at $4,000/d for the first 60 days and $8,000/d for the balance.
Banchero Costa and Co Spa
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