August 9– August 22, 2014 Weekly market report.. Banchero Costa

Tuesday, 26 August 2014 15:39:53 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

The Capesize market confirmed the positive sentiment of the previous week during the first half, however, the second half, the market slowed down. The Pacific market saw improved freight at $9.45/9.50/mt basis eta W Australia early September, but afterwards rates went back to $9.25/mt for the same positions. The key fronthaul route faced a similar trend with rates jumping at $24.50/24.75/mt during the first half of the week and then the lack of fresh cargoes led to a quick decline in the $23/22.75/mt range. In the Atlantic basin there was the usual absence of fresh requirements and the levels stood around $9/10,000/basis standard Cape dely UKC end Aug for TA RV with very little reported fixed.

Panamax (Atlantic and Pacific)

For the Panamax market the week started with a positive feeling, but in the last few days rates slightly decreased. In the Atlantic, more activity from USG and ECSAm to F East was registered: rates settled around $14,500/d + $450,000 bb and around $14,750/d + $475,000 bb respectively. Also the BSea market closed the week positively with a few fixtures reported for Med and MEG/F East redelivery. Not so much activity for the intra Atlantic market with most of the fixtures done on voyage basis. WAfr market was really quiet because of the Ebola epidemic effect. Pacific market showed some activity at the beginning of the week but thereafter rates started drifting and day by day lower levels were registered. Indonesia RV were fixed mostly on aps basis at about $5,000/d + $90,000 bb showing dop equivalent around $4,000/4,500/d. NoPac RV were fixed around $5,000/5,500/d + $270,000 bb. Period value this week was considered around the $9,000/d for short period and $10,500/d or higher for 1 year duration.

Handy (Far East/Pacific)

The F East market for Supramax and Handysize showed more activity during last week and consequently rates increased both for Indonesia and Australia RV. For the latter it was reported that a Supramax was fixed for an Australia RV to EC India at $10,000/d with manganese ore. A Handysize was done for a similar RV via Australia back to SE Asia at $8,000/d basis dely Singapore.

Handy (North Europe/Mediterranean)

BSea market showed stronger rates when a 58,000 dwt was reported fixed for a trip to Indian Ocean at $17,000/d basis dely dop BSea. The activity increased thanks to the steel exports towards India/Japan range. Not so much activity was reported for Handysize in the BSea while for Continent market a few fronthaul trips were reported with fertilizers to F East.

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

USG market was stable. Supramax rates for TA RV were between $10/12,000/d depending on the specifications of the ship. Fronthaul trips with petcoke from USG have been reported at $15,000/d for about 50 days duration. ECSAm market didn't benefit from the general improvements of the other areas remaining stable; not much activity apart from fronthaul trips out of Recalada. A Supramax was reported for a trip into Med basis aps ECSAm at $12,000/d.

Handy (Indian Ocean/South Africa)

The S Afr/Indian Ocean market showed some activity for trips with manganese ore out of Durban to Colombo/Japan range and from SE Afr to F East with minerals. Not much business was reported on coal. Rates for Supramax basis dely aps S Afr to either Colombo or Japan were reported at around $8,000/9,000/d + $120,000/150,000 bb. From India not much activity was reported especially because of the few iron ore shipments leaving the coast.

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


Similar articles

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

Iron ore prices drop by over $9/mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News