Capesize (Atlantic and Pacific)
The Capesize market seemed to be left without any hope for a better future and owners kept accepting lower rates. In Pacific West Australia/China voyage dropped from $6/mt to low $5. Out of South Africa, Saldanha Bay to Qingdao rates went from low $10/mt to low $8 and the market remained very slow from Brazil. More and more owners decided to anchor ships out of Port Elizabeth or Singapore. Bunker prices at low levels were surely helping freight to slide, but the drop was proportionally bigger and Time Charter equivalent kept decreasing. Period levels fell consequently and now one year Time Charter was reported at around $12,500 for prompt delivery.
Panamax (Atlantic and Pacific)
Last week there was a large availability of prompt tonnage and the list of prompt cargoes got thinner and thinner. Fresh demand was concentrated on forward positions, but fixtures remained limited. A PostPanamax was reported at $12,000/d + 200,000 bb basis dely aps USG and redely passing Passero Westbound. On Fronthaul there were rumours of a unit fixed at $14,000/d + 400,000 bb basis redely Spore/Jpn range. ECSAm was still slow with few fixtures reported around $13,500/d + 350,000 bb for F East discharge. In East rates softened despite a decent amount activity. Cargo list is shortening and the tonnage list is growing. NoPac was limited with fixtures around $7/7,500/d basis dop. Indonesia coal trade to India was around the same level and and short RV was agreed at low $6,000/d. Some more activity was spotted out of Australia at rates between $8/8,250/d for RV. Period activity was very limited with 4/6 months around $9,000/d.
Handy (Far East/Pacific)
A bit less Supramax activity in the area even if rates remained quite steady getting again the positive influence from the coal trade from Indonesia to India. A 57,400 dwt fixed $12,750/d with delivery Singapore and a 56,700 dwt got $12,000/d basis delivery S China. A third unit got only $5,750/d basis dely WC India for a RV via Indo. Another similar unit managed to agree a firmer $11,000/d basis delivery and redelyivery EC India. More interest to load ex N China/Japan range pushed up rates for loadings out of this corner of Pacific which is known as a depressed area. A 56,700 dwt got $10,000/d from N China to SE Asia, a fancy 36,000 dwt got $9,500/d basis dely Japan to load fertilizers in N China to India and a 55,600 dwt agreed a very good $15,900/d ex S Korea to load steels in Japan discharge WC India.
Handy (North Europe/Mediterranean)
A cargo of Clinkers from S Spain to W Africa was fixed at $12,000/d. Scrap from Cont to E Med agreed a little higher $13,000/d on a 58,000 dwt vessel. At the end of the week a 57,900 dwt agreed an improved $14,750/d basis dely Portugal for a trip via N Europe to F East. Trading out of Black Sea remained active with rates still in the $12,000/d region basis Middle East redely for Supramaxes. At the end of the week an Ultramax fixed an higher $13,250/d to F East and a 28,000 dwt was reported at a quite good $11,000/d to go EC India.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates remained steady out of USG with a 58,800 dwt agreed at $18,000/d for a trip to F East and standard Supramax getting $15/16,000/d to Med. On this trade a fancy 61,400 dwt was reported at $16,500/d basis redely Italy. Activity from ECSAm registered a 53,800 dwt agreed at $13,500/d basis dely W Africa via Brazil and S Africa to Persian Gulf. ECSAm was more active on Handysize with a 34,900 dwt fixed at $8,600/d basis redely Morocco, a 28,400 dwt fixed at $9,650/d to Med and another similar unit done at $7,750/d basis dely W Africa via S Brazil to Central Med.
Handy (Indian Ocean/South Africa)
Rates improved despite a lack of regular business. A 55,300 dwt agreed $9,000/d + 200,000 bb basis dely S Africa to India and a 55,000 dwt got $8,750/d from Persian Gulf to EC India. A Fancy 58,700 dwt got $11,000/d +240,000 bb basis dely S Africa for 2/4 months redely ww.
Banchero Costa and Co Spa
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