Capesize (Atlantic and Pacific)
Following the trend of the previous week, the Capesize market gained value on all the routes, especially due to good cargo flow from Brazil to Far East. Miners tempted, in vain, to cool down the market from West Australia which settled the week at $4.80/mt for West Australia/China route. The increase was registered especially for Saldanha/China cargoes which fixed in the high $7’s/mt and Tubarao/Qingdao stems fixing at $10/mt still for September dates. Despite freight rates were close to the highest levels registered so far this year, some owners gained some confidence and, on Friday, were tempted to risk and wait the beginning of next week in order to fix their ships at higher rates. On the other hand, the Atlantic market remained rather quiet and poor of new stems especially for fronthaul from the North.
Panamax (Atlantic and Pacific)
During last week the market registered lower rates from the Atlantic area with Kamsarmax vessels fixing around $7,500/d + $250,000 bb for fronthaul trips, a tick less was done on a 76,000 dwt fixing $7,200/d + $220,000 bb with redelivery South East Asia. For USG loading a 83,000 dwt has been reported fixing $10,000/d basis Gibraltar delivery for trip to F East via Cape of Good Hope while for delivery USG a 76,000 dwt fixed $10,500/d + $250,000 bb for same direction but passing via Panama. From Continent a 93,000 dwt fixed one trip basis Amsterdam delivery for trip via Murmansk to Skaw-Gib at $6,000/d while a 76,000 dwt fixed Baltic to Med with redelivery Passero at $5,000/d. Basis delivery Continent also a 82,000 dwt was reported fixing trip via USEC to Med with redelivery Passero at $5,500/d and from the same loading area also a Kamsarmax was reported having fixed $5,250/d for trip to Brazil basis USEC delivery. In F East Kamsarmax vessels have been fixing around $5,500/d for trips via Indonesia to India basis S China delivery. A 76,000 dwt was reported fixed basis Xiamen delivery via West Australia to Singapore/Japan at $6,500/d with salt cargo, while for backhaul trip to Med a similar size was reported fixed at $2,150/d basis N China delivery. NoPac RV have been fixed at $5,250/d on a 76,000 dwt basis S Korea delivery while on the period front a 75,000 dwt was reported fixed at $6,000/d for 4/7 months period basis Paradip delivery and a tick less was done on a 75,000 dwt fixing $5,500/d basis delivery South East Asia for 5/10 months period.
Handy (Far East/Pacific)
A good number of Supramax fixtures was agreed on the Philippines to N China trade with nickel ore, tonnage was mostly delivered in CJK/N China range and a good amount of tonnage was taken in direct continuation after discharging the previous nickel ore cargo. A non-fuel efficient 56,900 dwt achieved $6,900/d basis dely N China and then another similar unit was fixed at $7,000/d. Basis dely East China a similar unit got $7,250/d and a fuel efficient 58,000 dwt achieved $7,750/d. Coal fixtures from Indonesia were heading exclusively to China, mostly on 56/57,000 dwt non-fuel efficient units. A unit with dely Spore
agreed $7,500/d and redely S China, another unit got $8,100/d with dely Indonesia and redely full China and then another unit with dely Spore to Bangladesh achieved $9,500/d. A Supramax was fixed at $7,750/d for a NoPac RV basis dely N China and redely Shanghai/Japan range, but failed on subjects. Two large Ultramax were booked for short period basis dely China at $8,000/d for 5/8 months and $7,700/d for 6/8 months and
a 58,000 dwt eco-type got $7,250/d for 4/6 months.
Handy (North Europe/Mediterranean)
Demand slowed from Med and BSea and there were no deals officially reported: rates for Atlantic destinations started lowering whilst fronthaul apparently remained at levels similar to the previous week. Some more activity from N Europe where an Ultramax was fixed at $11,000/d basis dely N Denmark on the scrap trade to Turkey. On the same trade a 54,000 dwt was fixed at $9,000/d with dely Rotterdam. A 32,700 dwt achieved $7,750/d basis dely Skaw via Baltic to Cont with pig iron and with the same dely a 16 years old Handymax agreed $8,000/d via Baltic to Morocco.
Handy (USA/N.Atlantic/Lakes/S.America)
No fronthaul fixtures were reported from USG whilst TransAtlantic business further improved: an Ultramax to N Europe was fixed at $14,000/d with wood pellets, another unit got $13,500/d to Morocco with grains and a 57,500 dwt fuel efficient achieved $12,700/d to load petcoke to E Med. Annother Ultramax achieved $18,000/d basis dely Mississippi River and redely WCCAm. ECSAm market was active, especially on fronthaul trades, but not as firm as USG. An Ultramax was fixed at $11,250/d + 150,000 bb for a trip from Argentina to Muscat/Japan. From Brazil two Tess-52 were done at $10,000/d + 100,000 bb to Spore/Japan and a 56,800 dwt got the same rate basis redely SE Asia. A 50,000 dwt was fixed at $10,750/d + 125,000 bb to carry sugar to MEG receiving some premium because of the redely area is very quiet nowadays. Transatlantic fixtures showed weaker rates and a 57,800 dwt got $9,500/d from Recalada to Skaw/Passero and an Handymax 19 years old was fixed at $7,250/d to Med with grains.
Handy (Indian Ocean/South Africa)
A large Ultramax with dely S India was fixed at $11,000/d for a short trip to EC India: the agreed rate was paid by charterers to induce owners into booking an unattractive employment with a redelivery that commercially is even worse than S India. Activity was otherwise extremely quiet with all major exporters staying idle.
Banchero Costa and Co Spa
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