Capesize (Atlantic and Pacific)
Capesize market remained quite flat last week with some downward pressure arising from some lack of cargoes and the growing list of available tonnage. In Atlantic the market remained slow, Port Drummond is still on strike, with rumours of a TransAtlantic RV concluded at $8,500/d. Fronthaul is much stronger with fixtures in the $24/mt basis loading Tubarao mid October. Activity was good from S Africa with Saldanha Bay/Qingdao done at $17.80/mt for end of September loading. The market in Pacific started showing some weakness with Rio Tinto active on few ships at $9.20/9.30 per mt. There were some rumours that a unit was fixed basis TCT for Australia round at $20,000/d, but no confirmation emerged yet.
Panamax (Atlantic and Pacific)
Last week started very slow with bank holiday in UK and low sentiment in Atlantic. The USG/FEast hesitated to started and kept registering lower numbers in the mid/low $14,000/d + $425/450,000 bb, just a couple of fixtures done in the $15,000/d + $500,000. Similar rates were agreed on the ECSAm/FEast trade, demand is limited and rates remained flat. ECSAm RV to Cont is in the mid $8,000/d + 250,000 bb. Despite the low sentiment and poor cargo availability good rates were still available on BSea to FEast routes, now worth $19,500/d. A lack of prompt tonnage in Baltic drove rates upwards with Baltic RV up to $10,000/d range. Pacific is still the most active basin with fairly good volumes. All Pacific rounds are around $7,500/8,000/d with just India redely offering small premiums. Freight rates did not show improvements, but at least were stable and period employments were at a premium compared t rounds.
Handy (Far East/Pacific)
Demand for Supramax tonnage strengthened and progressively washed away the excess of available tonnage consolidating an improving trend in freight rates. Indonesian Nickel Ore trade at the beginning was concluded at $8,000/d on a 57,000 dwt dolphin type for a N China RV and concluded at $12,500/d on a fancier 61,000 tonner on the same trade. Several fixtures were reported on the Indo/India trade with a fancy 56,000 dwt getting $12,500/d basis dely Spore, redely EC India. A 55,000 dwt agreed $6,100/d dely S India redely full India showing no reflection yet of improved rates. Backhaul business saw a 58,000 dwt fixed at $6,000/d for the first 55 days and $9,000/d for the balance basis dely N China, redely Cont/Med. Also short period improved with a couple of 55,000 dwt fixed at $9,250/d basis dely S Korea/N China, two 52/53,000 dwt fixed at $10,000/d basis dely Spore. On the smaller sizes only a fancy 35,000 dwt was reported for 2 laden legs basis dely Philippines at $7,000/d redely Spore/Jpn.
Handy (North Europe/Mediterranean)
Most of the concluded business was kept confidential, as usual lately, however rates were clearly going higher. A fancy 58,000 dwt was booked for short period at $16,300/d basis dely N France. A similar unit got $12,000/d for a trip to BSea. A fancy 53,000 dwt was rumoured at $18,000/d from E Med to SE Asia. A huge $14,000/d was reported for a 19 years old 42,500 dwt basis dely Turkey via BSea to Italy for an HBI cargo that being dangerous called a premium of at least $5,000/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Activity from USG remained low profile. A very fancy 58,000 dwt was rumoured at $15,500/d for a trip to BSea. At least TA fixtures are bringing Supramax tonnage to European waters were market seems to start booming. From S America the trend was sluggish with no fixtures reported. A 45,000 dwt was booked at $11,000/d for dely and loading W Africa on a straight trip to FEast, confirming there are not many opportunities from S America.
Handy (Indian Ocean/South Africa)
Insurance problems related to trading Iranian ports cut dramatically down those, limited, trades, but brought an almost immediate positive effect to freight rates. A fancy 35,000 dwt was fixed at $11,000/d basis dely PG for a trip to China and a fancy 55,000 dwt was rumoured at $16,000/d for the same business. For owners not trading Iran the market remained very low.
Banchero Costa and Co Spa
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