Capesize (Atlantic and Pacific)
Market improved singnificantly during the whole week with rates climbing at almost highest levels of the year especially from North Atlantic. Volumes started slowing by the end of the week. Pacific was, as usual, the busiest area with the 3 major miners paying up to usd 16.50 usd for very prompt dates (ETA West Aus 20/22 Dec) compared to the low usd 14 agreed one week before. Charterers needed to pay up for front haul cargoes from Brazil as there was still lack of ballasters due to strong Pacific rates. Tubarao/Qingdao route for December dates fixed in the low usd 30. Activity was limited from North Atlantic but, again, lack of tonnage for prompt deliveries, pushed up rates to mid $50,000 for trip to East. Coal cargoes from Colombia to Continent fixed in the mid/high usd 18 which equates to over $40,000 TC and there were still takers at similar levels as week was closing. Finally period market was mainly active for short durations with 5/7 months ship delivery mid Jan reported fixing at about $20,000 while more and more charterers were looking at 1/2 year duration at around $20,000 level.
Panamax (Atlantic and Pacific)
Another strong week in the Panamax market. The index rose from 1923 to 2096 points and the sentiment remained positive in both basins. In Atlantic the leading route remained USG-FEast, still in the $20,000/d + $1 mill bb, but also TransAtlantic RV was very active at very high rates, in the mid/high $20,000/d. In particular quick employments Baltic RV reached levels in the low $30,000/d. Owners are now asking around $20,000/d for a couple of legs in Atlantic. Pacific is still well supported by good demand: Indo and Australia RV basis Spore/Japan are rated at around $15/16,000/d. NoPac was relatively quiet and tonnage in N China was attracted by USG rates. Middle East was even hotter with Indian and S African cargoes competing with a firmer market for ECSAm/FEast ate rates around $15,500/d basis dely dop Middle East. Charterers with orders via India had to pay excess of $20,000/d. Period was again very active at levels between $13,500 and 14,500/d for short period up to one year. However on Friday a slip on the derivatives market hold back some interests.
Handy (Far East/Pacific)
Fresh enquiries at the beginning of the week managed to keep rates at similar levels to the previous week. Almost all the spot Supramax cargoes kept originating ex SE Asia. A fancy 56,000 dwt got $23,000/d basis dely Davao for a trip with coal via Indonesia to Philippines. Another eco type 58,000 tonner got $18,000/d for a N China RV with nickel ore. A 57,900 dwt got a quite good $14,500/d for 4/6 months period basis dely Japan. This rate was probably influenced by positional reasons since afterwards two slightly smaller/less fuel efficient units were fixed at $12,750/d for a similar commitment. Activity slowed down towards the end of the week with a negative influence to rates: a 56,400 standard type was done at $11,000/d with delivery Shanghai area for a trip via Indonesia to India.
Handy (North Europe/Mediterranean)
A short list of fixtures reported didn't prevent to show a 52,400 tonner getting fixed via Portugal to WAfr at $24,000/d and a 57,900 tonner fixed at $21,000/d with delivery Algeria for 2 laden legs redely ECSAm. It was rumored that market from N Europe was quite strong with Supramaxes said to get near to $30,000/d for scrap into the E Med, probably this was also due to a BSea market which struggled to remain at levels similar to the previous week
Handy (USA/N.Atlantic/Lakes/S.America)
Altantic Americas was still on fire for Supramax. This might be the reason why a lot less fixtures were reported on TransAtlantic trades keeping the rest confidential in an attempt to limit owners' excitement. A 57,000 dwt got $32,000/d basis dely USG to load grains to Europe. A 55,900 dwt got $35,000/d to carry Pet Coke from Mississippi River to W Med. From S America demand was a bit slower. Handies enjoyed a favourable market all around these waters.
Handy (Indian Ocean/South Africa)
Slow chartering interest from India was balanced this week by a larger demand for Supramax to load out of the Arabian Gulf and Iran where firmer rates were agreed for direction FEast and Red Sea. The latter trade showed to strengthen also in volumes especially for tonnage suitable to carry direct reduced iron ore. The sole fixture reported showed a 56,000 dwt done for 4/6 months period at $12,500/d, which was not especially attractive due to the firmer voyage business trading from the other side of the Indian ocean.
Banchero Costa and Co Spa
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