Capesize (Atlantic and Pacific)
After weeks of falling rates the market closed with some good fixtures suggesting better sentiment for the coming week. In Pacific the three majors came resumed their interests for tonnage for early February dates; rates agreed were a touch under $8/mt. In Atlantic, despite the closure of Port Drummond, expected not to resume until March, rates were up a bit. For TransAtlantic RV ships were fixing in the region of $12,000/d or around $7.50/Mt for a Narvik/El Dekehila on voyage basis. Fronthaul from Brazil to China was fixed at between $20.25/Mt and $21.75/mt was done from Pepel to China. Very limited volume for Backhaul from S Africa to UKC with only one unit done at $7.80/Mt for early/Mid Feb dates. S Africa trade to China remained active at $14/Mt for Mid Feb dates. Many charterers were looking for period with $20,000/d fixed for 11/13 months and $15,500 for 5/7 months.
Panamax (Atlantic and Pacific)
The Atlantic basin was quiet, but trying to hold fast on rate levels, completely opposite to a very active Pacifc basin that was very active with a lot of tonnage in position that draw down rates. Charterers with cargoes from ECSAm were trying to hide their requirements, but rates were firming with interests in the $18,000/d + 800+000 for good candidates basis aps dely for trip to FEast. USG/FEast remained in the $19,500/d + 900,000. Period was still an opportunity widely considered by owners and charterers, but activity slowed during the second half of the week, in the $15,000/d for 1 years employment basis dely Pmo/Jpn range. TransAtlantic RV was in the mid teens depending in particular by duration and redelivery as ECSAm season is getting closer. Pacific was in the very low teens and in some cases vessels got fixed on aps dely plus bb.
Handy (Far East/Pacific)
A large number of reported deals confirmed that rates are going down. Only positional issues allowed some owners to achieved slightly better figures. The tonnage list was getting longer and enquiries were not enough. Owners were willing to discount rates for trips to Indian Ocean in the hope of a better employment afterwards; several units were booked on this trade with aps delivery at rates between $6,500/d + 60,000 bb for a 53,000 tonner and $9,000/d + 100,000 bb for an Ultramax. On the backhaul trade a 58,000 dwt agreed only $4,000/d for 60 days and $10,000/d for the balance of the period on a trip to Europe basis dely N China. Improved interest from Pacific Americas with a 56,000 dwt fixed with aps dely at $9,000/d +350,000 bb and a better fuel efficient 55,000 dwt fixed at $8,500/d + 320,000 bb with a better redely Philippines. Due to longer duration and positional reasons a 55,800 dwt achieved a better $15,500/d + 550,000 bb for dely WC Mexico to Spore/Japan with Fertilizers. A 53,000 dwt agreed $11,750/d for 3/5 months basis dely Japan.
Handy (North Europe/Mediterranean)
Demand was limited mostly to small Handysize Grain stems from Cont or BSea to N Africa. Some tonnage was booked, but kept private, prevailing rates for 25,000/10 size were in the high teens from Cont and low $20s ex BSea. Some charterers were there to book tonnage for short period in an attempt to improve their economies; a 57,000 dwt was booked at $14,900/d for 3/5 months basis dely Cont redely Atlantic. In Med rates were contradictory with two 32,000 dwt booked for 2/3 laden legs at $8,750/d and another at $10,500/d for 3/5 months.
Handy (USA/N.Atlantic/Lakes/S.America)
Activity was slower also in Atlantic Americas. Reported fixtures were delayed but at mid-week it was clear that this area was still active. Concluded deals were not as exciting as before, but still good. Most of the activity was for TransAtlantic business with an Ultramax booked at $31,000/d for a short trip with Petcoke from USG to Morocco. From the same area a couple of large Supramax were booked in the mid $28,000/d with redely Greece. A less fancy 55,000 dwt achieved $26,000/d basis redely Portugal. A 53,000 dwt fixed at $18,500/d for 2/3 laden legs redely Atlantic and 32,000 dwt agreed $15,500/d for 3 months commitment. Business seemed slower from S America: a 55,000 dwt agreed $20,000/d to carry Sugar from S Brazil to E Med and a 33,000 dwt got $13,000/d for a trip from Paranagua to Med.
Handy (Indian Ocean/South Africa)
There is still a cautious optimism in this area. A standard Supramax got an interesting $13,000/d + $355,000 bb basis dely E Africa for trip via S Africa to FEast and a 52,000 dwt fixed at $12,150/d for abt one year with dely Gulf of Aden. Less attractive was the fixture of a 57,000 dwt at $8,500/d basis dely EC India for a trip via S Africa to India/Jpn range. A 56,900 dwt got $14,000/d basis dely S Africa and redely E Med, not attractive considering the redelivery.
Banchero Costa and Co Spa
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