Capesize (Atlantic and Pacific)
Negative sentiment persisted in the Capesize market both in Atlantic and Pacific basin. In Pacific ships were fixed for first half of February at $7.60/mt, around $0.40/mt lower compared to the previous week, Pacific round voyage bottomed at $7,000/d level. In Atlantic the market was very quiet and owner had to lower their previous targets. Atlantic round voyage was fixed lower than $10,000/d. Backhaul from Brazil to Rotterdam fixed below $9/mt for end February / early March dates. Cargoes from Saldanha Bay to China were fixed at around $14/mt for early February dates. Fronthaul rates fall down with charterers paying $24.50/mt for a bauxite cargo from Cabo Rojo to Qingdao and $20/mt were agreed for Tubarao / Qingdao cargo mid February dates. It is worth registering there is still a great interest for periods: charterers are there to pay over $21,000/d for 11/13 months employments delivery prompt in Far East that is more than double compared to the current spot market.
Panamax (Atlantic and Pacific)
Sentiment in both basins remained negative and period continued to be at premium over spot trips. The more, the gap the less the activity for period deals. S America and USG remained steady, but feeling is on the edge with South America operators at the door of a starting season trying to get better rates fixing vessels from a depressed Far East. Expectations for week 5 are softer due to Chinese New Year holidays.
Handy (Far East/Pacific)
The beginning of the week saw a further decrease of cargoes and an additional build up of tonnage available. The export ban from Indonesia has a huge negative influence and the forthcoming Chinese New Year slowed activity even more. More and more owners of tonnage open in this area were considering ballasting to Indian Ocean or USG where available rates may reward their efforts. A 55,700 dwt managed to get a nicer dop dely Japan for a NoPac RV, but the rate was an unattractive $9,000/d. Inter Far East trade a Handymax got $6,000/d + $60,000 bb basis dely aps Indo and redely China. Period interest was stronger with a 58,000 dwt achieving $12,000/d for 4/6 months, a 52,000 dwt got $12,500/d for a year and a last generation 64,000 dwt $14,500/d for a year.
Handy (North Europe/Mediterranean)
Supramax activity was very limited in this area with no fixtures reported from Cont where tonnage open started ballasting to Americas. A 50,000 dwt was agreed at $14,000/d basis dely BSea ppt for 2/3 laden legs and redely Atlantic which is not too bad considering the lack of interest for this size in the area. Smaller Handies were still active with grain stems from Cont and BSea into Med, but no deals were officially reported.
Handy (USA/N.Atlantic/Lakes/S.America)
Atlantic Americas market was active with firm rates. Top rates were still from USG where a 57,000 dwt fixed 35,000/d and a 52,000 got 34,000/d. An Handy 32,700 dwt got a firm $20,000/d to go to Brazil and two Supra were booked to Spore/Jpn range at $30,500/d. Ex S America there were less fixtures reported, but levels for business to FEast were steady around $20,000/d basis dely WAfr or aps equivalent.
Handy (Indian Ocean/South Africa)
Market remained firm in this area allowing a 57,000 dwt to agree $8,850/d with dely Spore for a trip via EAfr to FEast. On local trades a sister ship agreed $10,250/d basis dely WC India via Arabian Gulf to EC India. A 55,000 dwt got $13,250/d basis dely dop Sohar and redely WC India for a trip via AG. Both units might enjoy the good redely once they will be open again.
Banchero Costa and Co Spa
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