Capesize (Atlantic and Pacific)
Very poor week for the Pacific Capesize market with rates basically unchanged. On the Atlantic side, fronthaul voyage was still under pressure because of low demand. The lack of fresh cargoes forced owners to adjust their ideas and therefore rates decreased from $5.60/mt to $5.05/mt for trip from Bolivar to Rotterdam. Some business was concluded on timecharter basis with fixture in the low $3,500/d. The Pacific market registered some improving rates on the standard routes with freights in the region of mid $4s/mt for cargo with eta loading port from 20th March onwards. Fronthaul trips from Brazil were fixed around $10.50/mt basis dely end March/April dates and some fresh activity registered. Period activity was still very slow and a one year contract fixed around $10,500/$10,750 basis delivery Far East in mid March.
Panamax (Atlantic and Pacific)
The Atlantic Panamax market was still depressed. From ECSAm units with dely March were fixed at $10,000/d + $100,000 bb and vessels dely April, even if a long list of them is already available, were agreed over $11,000/d + $120,000 bb for trip into F East. N Atlantic market was still very quiet with little TransAtlantic requirements and just some trips from USG to F East, even if the numbers of cargoes and ships are quite balanced for March dates. A nice Kamsarmax was fixed at $15,000/d for trip to F East. TransAtlantic voyage via USG and USEC was mainly fixed on voyage basis. Some positive signs from BSea were registered, a trip to PMO was reported on Friday at $11,000/d. Far Eastern market saw some fresh enquires and the list of fixture reported was mainly on dop basis at slightly better levels. Panamax vessels were fixed around $5,000/d for a NoPac RV and second half march rates were showing already interests upon the $6,000/d. Indonesia RV was agreed closer to $5,000/d and the Australian RV was in the $5,500/d on lme bss dely China. For period owners were reluctant to accept charterers offers. Short period was around $7,000/d for 4/7 months basis China dely.
Handy (Far East/Pacific)
Supramax spot activity improved with a higher number of fixtures agreed mostly on dop basis at higher rates and on a variety of trades. Coal trade from Indonesia to Thailand was steady and a number of vessels were agreed at rates between $4,500/d to $6,250/d depending on size, specifications and delivery place. Coal trade with India was slower and a 58,000 dwt was fixed at $7,000/d with dely Philippines and redely WC India. The same rate was agreed on a smaller 55,000 dwt basis a slightly better redelivery into EC India. At the end of the week a nice 57,900 dwt fetched and interesting $9,500/d for a trip to EC India. Indonesia/China trade increased again with a 56,900 dwt fixed at $5,250/d and delivery dop W China, while a similar size was agreed at $6,000/d basis dely N China and a 54,000 dwt with dely at Hong Kong was reported at $5,100/d.
Handy (North Europe/Mediterranean)
Demand was active in particular for Handysize and Handymax stems loading from N Europe, with a major interest for backhaul trades for which rates grew through the week. A 17 years old 47,000 dwt was fixed at an unattractive $4,000/d for a USG discharge, a 36,800 dwt agreed $7,000/d for a trip via Baltic to the same area and a 45,500 dwt built in 1996 was reported at a good $7,000/d on a more conventional trade ex N Spain. From the same area a 31,900 dwt agreed $8,000/d into Morocco, whilst a Supramax was booked to the F East at $8,750/d, which appeared proportionally lower even if based on a longer employment. Fewer fixtures reported from the Med and B Sea waters. A fancy 58,000 dwt was fixed at a nice $9,500/d basis dely Aegean Sea via B Sea to the F East, from same area a 37 000 dwt on aps Novorossiysk accepted only 37,000 $4,250/d to carry grains into the Egyptian Med; this difference is explained by the very low bunker price prevailing at loading port where owners will fill up their tanks to earn afterwards benefits.
Handy (USA/N.Atlantic/Lakes/S.America)
Positive indications from this area with larger interests registered for Supramaxes stems. Rates increased from the beginning of the week. TransAtlantic trades showed some trips to Cont fixed around $9/$9,500/d and a no-eco 57,000 dwt agreed $11,000/d for a trade into Egyptian Med. A similar size fixed a good $10,000/d to load wood pellets from USAC to N Europe. On fronthaul trade, a 56,700 dwt was agreed at $11,000/d for a trip into the Philippines while a larger Supra fetched around $12,900/d for Singapore/Japan range. Otherwise, S American activity kept on a very low profile without reporting any representative fixtures.
Handy (Indian Ocean/South Africa)
No fixtures were reported from this area. Very little fresh enquiries were seen for all sizes of cargoes loading out of the Middle East and some owners were rumored fixing on voyage basis at competitive level, cargoes which are 2 or 3 times smaller than their vessel's capacity. A 35,000 dwt was whispered to have agreed around $3,000/d for a long lasting trip from Bengal Bay to China.
Banchero Costa and Co Spa
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