February 7, 2015– February 13, 2015 Weekly market report.. Banchero Costa

Tuesday, 17 February 2015 15:16:51 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

Despite some rush in securing tonnage before the start of Chinese holidays rates did not register big movements and the general sentiment remained depressed. In Pacific West Australia/China did not move from low $4/mt range except for some prompt ships being fixed in the high $4. Saldanha Bay to China paid low/mid $7/mt and fronthaul from Tubarao to Qingdao for March dates was in the low $10/mt. The Atlantic market remained very slow: Bolivar/Rotterdam cargoes were fixed below $6/mt while there were just a few cargoes from North Atlantic to F East.

Panamax (Atlantic and Pacific)

The Atlantic market registered a tick of optimism for USG business. Trip via USG to F East were done at around $13/13,500/d basis aps (equivalent on voyage basis of $28/29/mt). Trip to Cont/Med was still fixed at around $8,000/d + 80,000 bb. ECSAm was still mainly covered by ballasters at rates around $11,500/d + 150,000 bb. Not much activity from Cont/Baltic apart from a lme reported at around $5,250/d for a trip to Med. A few more cargoes at the beginning of the week in F East, but rates were still falling. NoPac cargoes were still scarce and mostly fixed on aps basis around $4,500/d + 150,000. Indo RV was around an equivalent of $2,500/d on standard Panamax, but most of the vessels were fixed with dely at the loading ports without any ballast bonus. India redely was still paying a bit of premium, around $1/1,500/d. Australia RV was in the low $4,000/d. Most of the period fixtures in F East had split rates: a lower one for the first/shorter part and an higher for the remaining balance on period.

Handy (Far East/Pacific)

Low demand and several deals concluded p&c or failed on subs limited a lot the available amount of reports, but still showed the negative trend in these waters. A 56,900 dwt was reported at $6,000/d at the starting of the week basis aps Indonesia to EC India. Nothing was reported fixed to China, rates were said to be in the $4,000s/d basis aps. Comparatively a fancy 28,000 dwt agreed at $4,500/d from Japan to SE Asia looked much better, especially considering that a 56,000 dwt agreed $7,650/d with no bb for dely aps N Pacific on a trip to N Europe.

Handy (North Europe/Mediterranean)

Scrap trade ex N Europe to Turkey showed a standard 56,000 dwt fixed at $8,750/d basis delivery Continent via St Petersburg a premium rate compensating Russian Baltic trading in the winter season. A smaller 50,000 dwt got just $5,000/d from Rotterdam to Turkey. No fixtures were revealed from BSea were the regular flow of fresh grain enquires to Med ports and a lack of prompt tonnage available increased Handysize voyage rates by $0.75/1/mt. From the same area there was though competition around a smaller amount of grain stems to Red Sea/E Africa destinations that were rumoured covered on voyage basis at proportionally much lower levels. This is a possible sign of owners starting to seek some cash flow results. On backhaul business a boat was said booked from BSea to USG at $1,750/d with no further details available

Handy (USA/N.Atlantic/Lakes/S.America)

Some better rates were agreed on spot business out of USG and Caribbean waters. A 55,000 dwt that got $9,000/d for a trip to F East was then followed by a 58,700 dwt agreed at around $12,000/d on a similar trade. On TransAtlantic 2 Supramax were done with petcoke to E Med from USG and NCSAm. Activity from S America was slower and a fancy Ultramax fixed at $10,000/d from Brazil to US WC was the only deal reported for larger sizes. Otherwise a bunch of Handysizes were booked for Atlantic grains business at unexciting voyage and timecharter rates.

Handy (Indian Ocean/South Africa)

Local charterers kept pushing around their usual low paying enquiries for loading aggregates. Inside this scenario major European based charterers of fertilizers were said to have booked a backhaul from Qatar to Thailand for 7/10 stems at a freight rate around 30 percent lower than they did in 2104.

Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials