Capesize (Atlantic and Pacific)
Capesize market was still suffering downward pressure as a consequence of bad weather out of West Australian ports and strikes in Colombia. The first part of the week was therefore very quiet, only by Thursday a fixture was reported again for cargo out of West Australia to China but at a lower $7.15/mt. South African cargoes paid $13/mt from Saldanha Bay and mid $12 from Richards Bay to China. Backhaul Richards Bay to Rotterdam was fixed at a lower $6.30/mt. There were a few Atlantic cargoes and owners were ready to fix at least at index level. There were rumours approaching the end of the week of a fixture for a fronthaul from Brazil to China at $17.30/mt.
Panamax (Atlantic and Pacific)
In Atlantic business activity experienced strong increase thanks to ECSA Grains. Charterers drew tonnage from Indian Ocean, SE Asia and even N. China/Japan at firmer rates. A Kamsarmax was fixed at $11,000/d + $600,000 ballast bonus for ECSA to FarEast business basis delivery passing Cape of Good Hope. TransAtlantic rates were going up as well. In Pacific the sentiment turned positive again with firmer rates; a NoPac round voyage was fixed at $9,500/d. Period business was active with one Kamsarmax booked fot 4/7 months at $10,500 basis delivery N. China. The Baltic Panamax Index gained 127 points during last week.
Handy (Far East/Pacific)
Even if the flow of fresh enquiry remained regular, Supramax rates were a bit under pressure. Owners, so far, managed to maintain previous freight levels. Charterers were more focused on nickel ore trips from South East Asia to China rather than on coal to India. Coal trips were still available, but not as much as the previous weeks. For the Nickel Ore trade, rates varied a lot depending on deliveries, vessels' size and redelivery South or North China. Rates ranged between $8,500/d, agreed by a 53,500 tonner with delivery Hong Kong and redelivery full China, to $5,000/d for a 52,000 dwt dely N. China and redely S. China, with an option at $6,000/d for redely N. China. Coal trade to India was fixed at $6,300/d on a 57,000 tonner with dely/redely EC India. This deal was followed a sister unit doing similar business at $5,750/d. A Slightly smaller vessel then was fixed at $7,500/d with dely N. China. Tonnage open to loading ports managed to get aps dely with ballast bonus. Short period was concluded at $9,500/d for a 58,000 dwt with dely N. China, another similar unit got $9,000/d + 400,000 bb with dely N. Pacific.
Handy (North Europe/Mediterranean)
The activity around Europe and N. Africa was still extremely quite with no fixtures reported. There were rumours about a 58,000 dwt dely BSea dome at low $11,000/d for a trip to Feast. Another 55,000 tonner agreed $3,500/d with redely Canakkale for a trip to USG. From N. Europe even the rumours were lacking with scarp and fertilizers apparently very quiet. On the grain charterers were quoting $21/22 per mt for a 40,000 stem from N. France to Sirya basis 2 discharging ports.
Handy (USA/N.Atlantic/Lakes/S.America)
Concluded fixture for Supramaxes loading out of USG were slow to emerge. By mid-week a bunch of fresh deals emerged showing them market was still firm and picked up further. With more demand for cargoes to East, two vessels were reported at $19,500 and $20,000/d with dely USG and redely Spore/Jpn range. At the end of the week a Supramax was fixed for NCSAm to Turkey at $19,500/d, that imply that the same trip basis delivery USG would be worth around $17,500/d. A higher market trend was also confirmed by the fixture of a 58,000 tonner done at around $13,500/d for 2/3 laden legs with Atlantic redely. The Atlantic Coast of S. America was also quite active for Supra. A couple of 55,000 tonners were reported at mid $12,000's with dely WAfr for trips via ECSAm to Spore/Jpn range. On the same trade a 58,000 tonner earned $13,000 with dely South Africa. This trend assisted a similar unit to get out from a backward position still fixing a nice $14,750/d basis dely S. Chile via ECSAm to FEast. The only aps fixture reported was for another 58,000 dwt taking $15,500/d for a trip Recalada/West Med.
Handy (Indian Ocean/South Africa)
Reports of concluded business from this area were lacking as well. Rates are rumoured to be improving. A better fixture involved a 58,000 dwt which got $9,000 + $400,000 ballast bonus dely aps S. Africa to perform a trip to FEast. Charterers involved with iron ore from Iran to China on were quoting firmer ideas of $19/mt on voyage basis. Local voyages between Arabian Gulf and India or to Red Sea were said to have been concluded at higher freight levels.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it