Capesize (Atlantic and Pacific)
In the Atlantic basin the Capesize market was still affected by the strike in Colombia. Activity was therefore very low and rates tumbled. Some vessels were forced to find other employments being already spot out of Colombia. Fronthaul rates out of Brazil to China were also declining with owners offering low $18. In Pacific volatility was marginal with West Australia/China cargoes paying mid $7 for ETA beginning March and low $7 for slightly later dates.
Panamax (Atlantic and Pacific)
The Atlantic market was still steady by the end of the week. Fronthaul business from US East Coast paid up to $15,000/d for LME units in Gibraltar. Grain business from Brazil instead still focused on candidates from Far East rating LME at $15,000 daily plus $500,000 ballast bonus. Supported by spot/prompt cargoes the TransAtlantic round was firmer at around $8,500 daily. In Far East rates for Pacific round were also encouraged by South America grain business and approaching the end of the week an LME in N. China was fixed at $7,000/d for NoPac trip whilst other units in S. China could secure $9,000/d or even more for Indonesia or W. Australia biz. There was also short period activity despite levels were in the mid/high $8,000/d for 4/7 months.
Handy (Far East/Pacific)
A flow of fresh charter enquiries lead to a larger number of tonnage reported fixed at higher levels. The positive trend was more evident on Supramax trips via SE Asia to China where a nickel ore round was agreed at $6,000 daily basis delivery N. China, followed from an afterward deal on the same trade at $8,000/d. Similar units delivering SE Asia were reported fixing $9,500 basis redely Japan and between $10,250 and $13,500 redely N. China. The coal trade from SE Asia to India was slower and rates struggled to improve proprtionally to the levels agreed for N. China. Period interest was still alive with two Supramax booked for short period at $9,250 and $9,400 per day and another one fixed at $9,000 for a longer 11/15 months duration. A 33,000 tonner was fixed at $7,300 for 4/6 months period with delivery SE Asia, no other news were available for smaller sizes.
Handy (North Europe/Mediterranean)
Activity appears to be still frozen with a limited number of enquiries in the market and only one fixture reported for a Supramax that agreed low $6,000/d with delivery Gibraltar for a trip to West Africa. Owners hope that with the new coming grain season from S. America they will find afterwards compensation.
Handy (USA/N.Atlantic/Lakes/S.America)
US Gulf was very slow due to a small amount of available enquiries. However rates, so far, did not suffered due to a very short tonnage list. A 50,000 tonner agreed a good $16,000/d for a trip to East Med. By the end of the week owners felt optimistic due to rumors of additional requirements predicted to come for March dates. South America was more active than last week. Many more improved fixtures were reported. A 58,000 tonner from Bahia Blanca to Far East was fixed at $11,000/d + 200,000 bb. Other Supramax trips with grains to Far East were rumoured concluded at better levels. A 28,000 dwt was concluded at a nice $11,250/d from Recalada to West Med basis TCT.
Handy (Indian Ocean/South Africa)
Indian Ocean kept being an unattractive area for owners although there are rumours that there is a bit more activity in the area than what surfaced. A regular volume of raw materials shipped between Persian Gulf, India and Red Sea lead some owners to keep their tonnage trading back and forth on these trips that given the absence of backhaul employments to Atlantic appear to allow a better income compared to fixing direction Far East. A Supramax was reported at $8,500/d for 3/5 months period, a 33,000 tonner was booked at $7,150 for the same duration. STX fixed another Supra from Red Sea to China at $7,500/d which is not bad compared to what iron ore on the India/China trade was paying until last week and in consideration tha Red Sea is normally dead of enquiry for these sizes.
Banchero Costa and Co Spa
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