Capesize (Atlantic and Pacific)
Capesize rates dropped in all basins. In Pacific, rates for standard route from W Aus to Qingdao lost almost $0.75/mt from $6/mt to $5.25/mt fixed at the end of the week for early September dates. As a consequence the Saldanha Bay/China was traded around high $8/mt for middle September dates. A lack of fresh cargoes and some ballasters towards Brazil caused the drop on the standard C3 route where rates below $12/mt were agreed for September laycan. Very low levels were reported for on the trade from Brazil to Rotterdam with a surprising $4.95/mt for early September dates. In the Atlantic market very slow activity was registered and the TransAtlantic RV was done around $12,000/d whilst on voyage basis not many fixtures were reported apart from some index linked deals for Colombia loadings. Almost absent the period activity.
Panamax (Atlantic and Pacific)
Rates in Atlantic were steady and the market was still driven and influenced by ECS Am grains, in particular for F Eastern redelivery. First half September dates were fixed around $13,500/d on a standard Panamax and $13,750/d for a Kamsarmax + an equal bb. The TransAtlantic RV was around $11,500/d + $150,000 bb for a standard Panamax.Many vessels open into the Indian Ocean were rating the ECS Am market around $10,000/d on a nice Kamsarmax. A vessel carrying fertilizer with Baltic discharge could be evaluated close to $17,000/d on Panamax. The standard route from USG to F East was reported around $14,000/d + $400,000 bb. At the beginning of the week rates appeared to have reached a bottom in the East. The growing lists of tonnages open in N China/Korea range were still influenced by the USG market helping to keep rates firm. A nice Kamsarmax were done around $8,250/d. A nice Kamsarmax was fixed for Indonesia and Australian RV around $7,000/d, cargoes with China redelivery agreed $7,500/d meanwhile Indian redelivery was done at $8,000/d. NoPac was fixed around $7,250/d. The value of a Kamsarmax open F East was around $8,000/d for a period of about 4/8 months, and $8,250/d for 1 year duration.
Handy (Far East/Pacific)
The trend remained negative in this area. Rates from Indonesia to China were between $5,500/6,500/day for Handymax/Supramax basis dely SE Asia including nickel Ore cargoes. There is an ongoing interest to ship coal in Supramax from Indo to India and on this trade a fancy Supra got $7,000/d basis redely EC India and a very fancy Supra got $9,500/d basis dely Spore and redely full India. WC India redely deserves a good premium like the one that a non fancy Supramax got fixing at $8,500/d basis dely Philippines. NoPac RV on Supramax was evaluated in the mid $6,000/d and an Ultramax was fixed at $9,000/d basis dely China. A modern 31,000 dwt got $9,000/d basis dely aps WCC Am to carry grains to NCS Am.
Handy (North Europe/Mediterranean)
During the whole week rates kept slowly improving. From N Europe demand was concentrated on local trading. A 37,000 dwt got $11,000/d from Baltic to N Europe with coal and a 32,000 dwt was fixed from German Baltic to Cont at $9,000/d. A similar Handysize got $9,500/d for a trip from Baltic to W Afr and a 16 years old Handymax fixed 2/3 laden legs at $9,500/d. Ukrainians operators booked a non fancy Supra at $11,500/d for 5/7 months basis redely ww. In Med a 43,000 dwt agreed $11,500/d for a trip from S France to W Afr and an Ultramax achieved $14,000/d basis dely E Med for a trip via Spain and Cape of Good Hope to China. Again in E Med a Chinese operator fixed another non fancy 56,000 dwt for 3/5 months at $12,000/d basis redely ww.
Handy (USA/N.Atlantic/Lakes/S.America)
The positive sentiment of the previous week remained both for Supra and Handy and the latest fixtures were easily repeated; TA runs on Supramax and all trades on Handy slightly improved. Activity on USG to East was a shade slower on Supramax however a 50,000 dwt still got $17,250/d to carry petcoke to China and a nice 58,000 dwt got $13,000/d + 300,000 bb from S America to the same destination. From S America a non fancy 56,000 dwt fixed $14,000/d + 350,000 bb for a trip to Bangladesh. Stronger TA trading led to a 37,000 dwt fixed at $13,000/d from N Brazil to N Europe and a 34,000 dwt got the same rate from USG to NCSAm. A 53,000 dwt got $14,000/d from S America to Red Sea and E Med redely. Short period activity registered a 58,000 dwt agreed at $14,050/d for 3/5 months, redely ww.
Handy (Indian Ocean/South Africa)
Activity slowed again and just a couple of fixtures were reported for Supramax from MEG to India in the low $8,000/d. There were interests for short periods, but nothing seems to have materialized yet. Very quiet activity from S Africa pushed owners to ballast their tonnage to S America.
Banchero Costa and Co Spa
Email: research@bancosta.it
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