Capesize (Atlantic and Pacific)
Period activity was the main feature of last week for Capesize. Despite the spot kept on trading below $10,000/d on average, takers of vessel for about 1 year duration were more and more aggressive. At the beginning of the week a very economical unit was reported at $27,000/d and approaching the end that level appeared even cheaper! Pacific seemed weaker at the end of the week: charterers managed to save a few cents and fixing in the low/mid $8/mt for West Aus/China voyage. More cargoes were noticed from East Australia. Atlantic, once more, was flat and quiet with charterers talking mid $6,000/d for a round for spot vessels open Continent and takers just bit more aggressive for fronthaul delivery beginning of March.
Panamax (Atlantic and Pacific)
Last week was marked with negative sentiment because of the number of ballasters from FEast and not so many fresh cargoes from ECSAm for Feb and first half March. Rates are still around $15,000/d + 500.000 bb. Similar rates were available from USG where a few fixtures were reported at around $15,250/d + 525.000 bb. Not much activity for TransAtlantic RV with charterers that still preferred to fix on voyage basis and owners mainly looking for repositional and short business. Baltic RV went below $8,000/d with small premium for vessels able to breach IWL. Pacific rates remained steady with some interesting fixtures reported for Indonesia RV. NoPac RV was stable around the low $10,000/d. Period market was again stronger than the spot with owner aiming levels over $14,000/d in Pacific waters for short period up to one year.
Handy (Far East/Pacific)
This area was very active with a long list of fixtures, but the tonnage list is still very long. Rates agreed were stable with a few improvements due to positional issues. Fresh demand for Supramax tonnage from Australia to FEast ranged from $10,500/d agreed for an Ultramax basis dely N China to move coal to India up to $14,000/d for a Tess 52basis dely Spore for Iron Ore from S Australia to N China. NoPac RV was agreed at $10,000/d basis redely Thailand and a 53,000 dwt got $7,250/d + 305,000 bb basis dely California for a trip with Petcoke to Japan. Local trips via Indonesia were agreed at $10/11,000/d basis dely Spore, with the same dely and redely India rates were around $11,5/12,500/d . A Supramax with delivery very close to loading port in Indonesia got $14,250/d. Improved interest towards period business and an
Handymax fixed at $10,000/d for 5/7 months and a 56,000 dwt that achieved $12,500/d for a year. In general Supramax got around $12/13,000/d for 3/5 and 4/6 months commitments.
Handy (North Europe/Mediterranean)
There were rumors that Handysize grain cargoes from BSea to Med/Cont destinations and from N Europe to Med were taking most of the activity in the area. The slowdown on other trades had a negative impact on rates that lowered of at least $1 or 2/mt depending on the actual trade. A very firm $45.00/mt agreed to move 25,000 mt of Barley from Finland to Algeria was inflated by the heavily iced waters. From N Europe a Supramax dolphin type was booked for a backhaul trip from N France to Brazil at $8,000/d for the first 42 days and $13,500/d balance (congestion at Brazilian ports often turns these trips very long). A Handymax was reported on a fronthaul basis dely Norway and redely FEast via Gulf of Aden at an unattractive $15,250/d. A 55,000 dwt got a softer $14,000/d for 3/5 months redely Atlantic.
Handy (USA/N.Atlantic/Lakes/S.America)
This area was not very active, however there was a renewed interest for Supramax from USG to Spore/Jpn range at rates in the upper $20s, up to $29,000/d agreed on a 56,000 dwt. TransAtlantic trade from USG was limited, but firm rates were available. A trip from Venezuela to Med was agreed at $16,500/d + 350,000 bb on another 56,000 dwt willing to trade Lebanon. Nice rates for Handies as well with a 36,000 dwt fixed at $19,000/d from Mississippi to Morocco and a 38,000 dwt agreed $13,000/d + 350,000 bb basis dely aps ECSAm to BSea. The trend from S America was negative again with indexes decreasing both for TA and Fronthaul. A 57,000 tonner was booked at $16,000/d + about $ 300,000 bb with delivery ECSAm for a trip to India/Japan range.
Handy (Indian Ocean/South Africa)
The anticipated new flow of business from this area hasn't come yet. With the exception of tonnage able to trade Iran and/or suitable to carry appendix ‘a' and ‘b' commodities the other owners are struggling to find employment from the area and some tonnage started to ballast away.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it