Capesize (Atlantic and Pacific)
The Capesize market remained flat during the holidays and there were no major news compared to the last decade of December. West Australia/China route is in the low $7s/mt with good volume of enquires from all majors. The Atlantic market seems set to become busier, but still stable. For a round voyage owners are fixing in the $5,000s with good delivery. Fronthaul from Brazil is well supported in the $17s. Period market was very quiet during the holidays with a few short periods agreed in the mid $8,000s.
Panamax (Atlantic and Pacific)
The market was still extremely quiet after New Year holidays. Fresh cargoes were springing here and there, but supply was simply too large. In Atlantic Fronthaul trip was done below $14,000 daily + $400,000 ballast bonus for business ex US Gulf and $13,500 + $350,000 bb for those out of South America. TransAtlantic cargoes were rather limited and some vessels in Continent agreed around $7,000 daily for trip to Mediterranean Sea. In Pacific the market was almost inactive with only some fresh cargoes from Indonesia, but again supply was too large. Indonesia round was fixed at $5,000/d + $60,000 ballast bonus with delivery aps East Kalimantan. East Coast Australia round was evaluated at $5,000/d + mid/high $200,000 bb level. Some charterers were still looking for short periods to be ready for the next grain season in East Coast South America, but rates were extremely low at $6,500 daily level.
Handy (Far East/Pacific)
Christmas and New Year holidays slowed down considerably the chartering interest. Activity was limited to a small number of cargoes, typically loading Coal in Supramax, out of Indonesia to India and China. The smaller volumes from Indonesia together with the absence of requirements ex Australia/North Pacific, backhauls and periods affected rates that took immediately a downward trend. India bound rates suffered the most with an average reduction of the freight rates of 10-15% whilst Far East shipments were agreed at rates closer to last dones.
Handy (North Europe/Mediterranean)
Demand was even quieter in this area with an extremely limited amount of enquiries. From North Europe there was some, little, interest for Handysizes loading grains to West Med and Supramax sized scraps to East Med and Black Sea. There was a rumor that 25,000 tonnes of wheat from North France to Algeria hardly paid $20 on voyage basis, whilst timecharter rates for Supramax to load scrap were well below $10,000/d. Even though the Atlantic market from America was not that bright, owners still found to be more convenient to ballast their tonnage. Black Sea market was similar with Supramax enquiries missing completely and Handysizes competing on a small amount grain requirements to North Africa/West Med.
Handy (USA/N.Atlantic/Lakes/S.America)
Owners hoped to see freight rates rising in the area due to a shorter list of available tonnage, but due to slower activity rates for Supramax and Handysize didn't move much confirming last dones. Handysize however got proportionally better rates compared to Supras. More interest was seen from North Coast South America where both Supramax and Handysize units enjoyed a better market.
Handy (Indian Ocean/South Africa)
Lower rates from Indonesia prevented owners of tonnage available in the Indian Ocean to move to other areas. Dop evaluations given by charterers were quite unattractive. Some lucky owners found some benefit fixing timecharter trips with iron ore from Iran to China or very short duration India coastal business which were both paying over the average local market levels.
Banchero Costa and Co Spa
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