Capesize (Atlantic and Pacific)
The Capesize market remained very slow due to the celebration of Chinese New Year. In Pacific a standard W Australia / Qingdao trip basis early March laycan was fixed at low $4/mt and Saldanha Bay remained in the very low $7/mt. The fronthaul has seen some fixtures around $10.25/$10.50/mt bss Tubarao/Qingdao. In Atlantic rates were down again with $5.50/$5.85/mt agreed for a trip from Bolivar to Rotterdam and timecharters fixed around $6,000/d. Some short period activity was registered with a couple of vessel agreed for one year at $10,000/d bss dely F East at the end February.
Panamax (Atlantic and Pacific)
Last week was very quiet for the Panamax market. The Atlantic market is still very slow with just few deals concluded on minerals and grains trades. ECSAm still maintain the same levels of previous week with fixture agreed around $11 500/d + $150 000 bb for trip from F East Not to many deals for Skaw/Passero range USG is still dull even if some charterers were paying a tick more compared to early dates. Grains stems via USG to F East were fixed around $29/mt. Some fresh requirements from US EC to Cont/Med destinations were registered, but not enough to absorb the volume of prompt tonnage: the last fixture was agreed at $7,000/d + $70,000 bb for a trip to Skaw/Gibraltar range. Very low activity was registered also in Baltic Sea and BSea markets. Trading to F East was still slow due to Chinese holidays and rates were still on the very low side.
Handy (Far East/Pacific)
Demand further slowed down due to Chinese New Year. The amount of fresh enquiries reduced and several deals failed on subs due to a lack of communication with Chinese receivers. A Supramax grain cargo ex NoPac to Philippines remained in the market for quite some time and finally got fixed at only $7,000/d + $70,000 bb. A salt cargo ex W Australia to Japan was booked on a 52,000 dwt at $5,250/d basis dely Spore. An un-fancy Supramax was hard to fixed in the mid $3,000's levels from SE Asia to China and a similar type open in N China agreed a comparable rate for the first 70 days duration on a trip into the USG.
Handy (North Europe/Mediterranean)
Most of the business was for Handysize grain stems loading out of the BSea and E Med to N Africa and Med ports. Activity was a little slower than the previous week, but still at similar rates. A 33,500 dwt fixed two laden legs ex Greece with redely US WC at a very good rate especially if compared to the other Handysize fixtures: $6,850/d for the first 55 days and $7 350/d for the balance From N Europe a 36 700 dwt got a better $8 100/d for scrap from UK to Turkey and another Handysize was fixed at $2,250/d from N France to USG.
Handy (USA/N.Atlantic/Lakes/S.America)
Positive indications from these waters: demand for Supramax out of USG quickly improved especially for fronthaul stems. A 57,000 dwt was fixed at $10,000/d to go to Bangladesh and redely Spore, which is not bad at all. A fancier similar size got a firmer $11,250/d straight to Spore/Japan range and was followed by a less fuel efficient type fixed at $11,000/d to the same area. Same indications were registered on TransAtlantic trade where the week started with a 52,000 dwt reported at $9,300/d for a trip to Cont/Med and on Friday a similar size with dely dop WAfrica via same loading area g to the Cont was reported at $5,000/d, which rate, translated into aps delivery equates to over $10,000/d. A 28,350 dwt fixed $6,750/d from USG to WCSAm and a 34,400 size got $6,250/d from USG to Buenaventura. S America looked slower and less attractive with only a 28,000 tonner agreed at just $6,750/d for a trip aps Brazil to the F East.
Handy (Indian Ocean/South Africa)
The market was quiet again. Demand is lacking and the small amount of existing chartering activity is limited to short haul local trade. A 51,000 tonner was reported booked for delivery WC India and redelivery E Africa at around $4,500/d which only allows owners to save a portion of the ballast expenses to position vessel for S Africa/Atlantic trading.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it