Capesize (Atlantic and Pacific)
Capesize followed the trend of the previous week showing some signs of improvement. W Australia/China settled in the middle of $4/mt. Out of Saldanha Bay to Qingdao rates were in the $8/mt for middle February dates. On the Atlantic side the list of prompt tonnage is shorter and shorter and a voyage trip from Bolivar to Rotterdam was fixed at mid $7/mt. Fronthaul market remained stationary and short period market was similarly slow.
Panamax (Atlantic and Pacific)
Very poor week for the Atlantic Panamax market with a lack of cargo and too many vessels open in the next 2 weeks. Some more activity was registered from ECSAm where rates were still around $12,000/d + 200,000 bb (a little more for very eco-type). Few fresh orders from USG, even grains were slow last week. More activity from Cont/Baltic for quick RV or F East trips agreed around $13,000/d. Little activity in F East, especially from Indonesia, with rates that kept sliding and owners struggling for short RV in the hope of beter times once open again. NoPac RV was small around $4,5/5,000/d. Australia RV was around $4/4.500/d for RV Spore/Japan range. Indonesian trading was still depressed and fixed at equivalents of $3,500/d basis dely dop S China. More interests for periods, but owners remained reluctant to agree very low rates.
Handy (Far East/Pacific)
Despite the small amount of reported fixtures last week registered higher rates agreed on backhaul business. A 51,900 tonner was reported at $7,500/d for the first 70days and $9,750/d balance for a trip from Japan to Med; this was followed by a 47,000 tonner agreed at a worse $6,750/d for the first 65 days and $8,500/d balance from China to W Africa. Rates softened for local trades and several deals failed on subs. A Supramax was rumoured at $7,000/d for a trip via Indonesia to India, a Handymax was reported at just $3,750/d for a trip from N China to SE Asia. Another rumour reported an Indonesia RV fixed at $5,000/d basis dely Philippines and seems that other charterers were evaluating a Supramax around $6,500/d from N China to India.
Handy (North Europe/Mediterranean)
Despite the small amount of reported fixtures last week registered higher rates agreed on backhaul business A 51,900 tonner was reported at $7,500/d for the first 70days and $9,750/d balance for a trip from Japan to Med; this was followed by a 47,000 tonner agreed at a worse $6,750/d for the first 65 days and $8,500/d balance from China to W Africa. Rates softened for local trades and several deals failed on subs. A Supramax was rumoured at $7,000/d for a trip via Indonesia to India, a Handymax was reported at just $3,750/d for a trip from N China to SE Asia. Another rumour reported an Indonesia RV fixed at $5,000/d basis dely Philippines and seems that other charterers were evaluating a Supramax around $6,500/d from N China to India.
Handy (USA/N.Atlantic/Lakes/S.America)
Demand remained limited bringing rates under further pressure. Supramax grain business from S Brazil to F East was fixed on a 57,000 dwt around $10,500/d + $125,000 bb. A fancier 52,500 dwt got $9,000/d + 90,000 bb with similar delivery for a trip to Bangladesh, longer duration expected. A 45,000 dwt got just $9,250/d from River Plate to WCS America. From USG a fancy 58,000 tonner carrying petcoke was fixed for a trip to India at a more reasonable $13,000/d, also in consideration of the longer duration. Grain trades to Algeria showed another fancy 58,000 tonner agreed at $10,250/d, while on the Handysize segment the sole news available was for a 32,000 tonner done from Mississippi river to Morocco at $7,250/d.
Handy (Indian Ocean/South Africa)
No fixtures were reported from this area that remains difficult because of the lack of demand. Charterers were aiming $12/mt for a Coal cargo from SAfr to EC India. Fertilizers from RSea to India attracted many interests at very competitive rates.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it