Capesize (Atlantic and Pacific)
There was general bearish sentiment in last week's market. Bad weather in Australia slowed down activitivities and owners were ballasting their vessel to S. Africa searching for luck. But even from Richards Bay and Saldanha, levels were coming down. The Atlantic was calm with a few fixtures reported from Brazil at the low-$19 and further below that as the week closing. Period market was again active at lower levels.
Panamax (Atlantic and Pacific)
The Atlantic market was firm in the past week supported by spot/prompt TransAtlantic biz. The TransAtlantic biz from South America to Europe was done at $7,000/d + low $300,000 bb level. The quick trip to Continent could get some premium on daily hire basis dop delivery. The fronthaul trip from S. America to Fareast was still steady and fixtures were done at $14,000/d plus low $400,000 bb for early stems. On the Pacific side, most of the modern vessels prefer to do S. American grain and several vessels were agreed at around $8,000/d delivery passing Singapore. The candidates in North Pacific could almost only do NoPac and E. Australia biz and rate was evaluated at $6,000/d + $300,000 bb. There were still many charterers looking for short period candidates at $7,250/d for 4/8 months delivery S. China.
Handy (Far East/Pacific)
A further enlarged volume of available Supramax tonnage in this area brought an unusual large number of reported fixtures. Compared with last week's NoPac RV, they were fixed Aps on rate plus bb basis and showing smaller equivalent than previously concluded Dop fixtures. Trips from Indonesia to either India or China, including nickel ore, were fixed Aps without bb while backhaul to W. Africa was agreed at a flat lower-$5,000 without hire escalation for the balance period. Short period interest left some Supras still booking at the low/mid-$8,000/d, in contrast to a Chinese newbuilding eco-type fetching at a much nicer $10,000/d for 4/6 months duration. Smaller Handies as usual kept enjoying a better market, which could be seen not only from the more realistic levels for owners on all runs but a very firm $7,500/d Dop China via NoPac redel China on a 34,000 dwt n/b logger.
Handy (North Europe/Mediterranean)
Chartering activities showed signs of recovery around the European coasts. The latest reported fixture showed that rates had slightly improved on several trades, but there was still some way to go before they can be considered as good enough for owners. $11,800/d was the hire agreed for a 53,000 dwt from Cont to SE Asia via Gulf of Aden. From the same area a 34,000 tonner got $6,250/d for a trip into the E. Med with possible int. of scrap. A 57,000 tonner to perform Cont/W. Africa was fixed at only $8,000/d which should be partly balanced by the on-going firm S. American market from where owners can enjoy premium of better positioning. Black sea was still extremely quiet last week.
Handy (USA/N.Atlantic/Lakes/S.America)
There were only slack activities from the Atlantic Americas. For TransAtlantic out of the U.S. Gulf, although the list of fixtures was shortened, the market didn't show any significant changes from previous week and in fact reconfirmed the relatively better situation of smaller Handies. Rates on voyage basis from U.S. Gulf to Fareast were said to stay stable at previous week's level. Without fixtures being reported, S. America could be described as firm both on TransAtlantic and East bound business. Some vessels were rumoured fixed on private terms and the market is likely to show positive trend next week.
Handy (Indian Ocean/South Africa)
Fewer interests for stems out of S. Africa further slowed down activities in the Indian Ocean. Only two fixtures were reported last week, showing that Handysize like a 28,000 tonner from Persian Gulf to Bangladesh got proportionally better rates compared with Supras. A modern standard Supramax was fixed for short period at $8,500/d, almost the same rate she would have achieved with delivery in the Pacific. It was also rumoured that a modern Supramax was fixed for a trip via Iran to China with delivery WC India at merely $6,000/d, but no further details were available.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it