Capesize (Atlantic and Pacific)
Last week was a one way market with the Atlantic side leading the drop. Fronthaul trips from Brazil were offered at $18/MT, but there were no charterers willing to pay those rates. North Atlantic and Black Sea were the only markets just marginally down. In Pacific West Australia/China was settled in the mid $7s. Owners of modern Capesize tonnage were aiming at around $10,000/d bss Timecharter for Nopac employments, but charterers were reluctant to agree those rates. One cargo out of Saldanha Bay to Qingdao with laycan at the beginning of January was fixed at $13/MT.
Panamax (Atlantic and Pacific)
Under the influence of coming holidays, the Atlantic market turned soft last week. By the end of the week Transatlantic business was talked at $9,000 plus $150,000 ballast bonus level. Fronthaul trips were limited as well with rate talked at $14,000 daily basis dop Gibraltar. Expectations for the next few weeks were gloomy. In the Pacific market rates were dropping quickly. There is a long tonnage list of candidates open in FarEast during the second half of December and the cargoes are limited. For modern candidates in S. China rates were around $7,000/d + 120,000 ballast bonus for Indonesia round voyages and candidates in N. China were fixed at $7,500/d + 350,000 bb for NoPac trips. Some charterers were in the market looking for short period business in preparation for Q2 South America Grain season at rates in the low $6,000/d for 4/8 months.
Handy (Far East/Pacific)
Charterers renewed short period interest lead to a few units fixed for 3/5 months with delivery between continental South East Asia and East Coast China at nice daily rates ranging between $9,500/10,000, some of the fixed vessels are not "eco-types". On the spot the chartering activity was still mainly on Supramax loading from Indonesia mostly into East Cost India, with strong rates agreed during the first part of the week, then the sentiment faded and lower figures were agreed approaching the end. Large Supramax activity was noticed also on NoPac round voyages with rates that however were much lower even if showed some improvements. A 56,000 tonner agreed a scary $2,250 with dely Japan for a backhaul trip to Brazil. No reports were available for smaller handy fixtures.
Handy (North Europe/Mediterranean)
Last week we wrote about the rumors of a Supramax fixed from N. Cont to Middle East, this ended up being two units reported to FarEeast via Cape of Good Hope at $11,750 and $11,500. These fixtures even if still unattractive are better than the earlier rumor: better redelivery area and safer routing. From Cont the market was much better for smaller tonnage, a 27,000 tonner was fixed at a firm $8,750/d for a backhaul to the Caribbenas. Activity from Med and BSea was very quiet. A lousy $5,300/d agreed for a trip BSea/Cont is actually much better than the voyage rate of $15 agreed on a larger vessel to carry bulk wheat from Ukraine to Germany, a timecharter equivalent in the $4,000s/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Most of the Supramax fixturesout of USG were for trips to FarEast at rates in the $16,750/17,000 daily level. TransAtlantic seemed more attractive at around $12/13,000, but Indonesian cargoes are firming up Pacific market whilst East Med and Cont are pretty disappointing. Rate agreed out of USG and NCSAm had positive influence on S. America business, but Fronthaul business was still missing. A 50,000 tonner agreed a firm $15,000/d for a trip via Orinoco to BSea, but this is due to the cargo, hot briqutted iron (hbi), which involves tonnage with specific fittings and is classed as dangerous cargo under the IMSBC code.
Handy (Indian Ocean/South Africa)
Still no fixtures reported from this area were only short duration, local voyages seems to get fixed on private terms. A general lack of enquiries and quiet chartering interest for loading out of S. Africa are heavily affecting this market. Those owners who are not interested to buy some time trading in the area have either to fix trips to FarEast via Indonesia or ballast out.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it