Capesize (Atlantic and Pacific)
The Capesize market remains slow and registered another negative week with rates falling in all basins. In Pacific W Australia to Qingdao was fixed around $4.10/mt several times, with not many cargoes moved by major players. As a consequence rates for Saldanha Bay slipped around $7.25-$7.50/mt. Although Vale fixed not less than 8 vessels on the route from Brazil to China around $11.65/mt, the market remained under pressure with a noticeable number of ballasters heading to Brazil. In Atlantic the market registered a trip from Bolivar to Rotterdam fixed at $6.45/mt whilst $16,250/d was agreed for a long fronthaul via USEC + Canada to F East. Some fixtures for short period were done at very low rates around $7,500/d for 3/5 months basis dely ppt in China.
Panamax (Atlantic and Pacific)
Extremely low market for Panamax. Altantic is suffering the long list of prompt tonnage and a lack of fresh cargoes. Trips via USG to F East were fixed at very low rates (and with no ballast bonus) around $10/11,000/d bss aps; ECSAm was still around $11,500/d + 150,000 bb for trip F East. Not many fixtures reported on the Transatlantic RV: from USG an lme agreed $7,000/d + 70 000 bb to Med with a very low equivalent on voyage bss, below $14/mt. Very quiet market in Cont and BSea. In F East despite some more activity for coal to India the week was poor. NoPac RV was quiet and mostly agreed around $4/4,500/d for nice lme, Australia was just $500/d higher + equivalent bb. Indonesian coal export was around $3,500/d dop equivalent.
Handy (Far East/Pacific)
The market remained depressed and charterers could take Ultramax types at low rates. A 62,700 tonner was fixed on a backhaul ex N China to USG at $5,250 for the first 65 days and $10,000/d thereafter. A slightly smaller unit was booked for short period at $9,500/d. Local trips got fixed at negligible levels. A 56,000 dwt got $5,000/d from Spore via Indonesia to Thailand. With the same dely a 26,400 dwt was fixed at $4,100/d via Thailand to Indonesia. A 53,500 dwt agreed $4,500/d for a trip from N China to Indonesia with steels. A 30,800 dwt was done at $7,000/d from China to MEG and a 58,000dwt fixed at $9,100/d from N China to WC India. Spot business loading from WCSAm showed a 37,000 tonner achieved $8,500/d from Peru to F East. A 52,454 dwt was fixed at $6,500/d + $70,000 bb from USWC to New Caledonia. A large vessel coming open at the loading port was rumoured to indicate $10,500/d with no bb for a quick trip to China and charterers counter evaluated her below $8,000/d (!). A slight recovery on handysize market was registered with some enquiry for westbound backhaul business that led to a 34,000 tonner fixing $7,000/d to carry bagged rice into W Africa and a slightly larger Handy done at $10,000/d with grains from Australia to RSea.
Handy (North Europe/Mediterranean)
Activity remains slow in this area with only one Handysize scrap cargo fixed on voyage basis from N Cont to Egyptian Med at $14.75/mt. A Supramax was rumoured to have been taken for the same trade on TC basis at a rate around $6,500/d, no further details were so far available. Out of BSea, the activity was limited to grain stems to Med ports, however the activity improved and led to a couple of slightly higher fixtures: a 46,000 tonner was done at $4 250/d to Spanish Med and a 32 600 dwt fixed $5 200 to Egyptian Med No positive effects yet on voyage rates. From West Wed a 55,000 tonner agreed an unattractive $6,000/d to carry clinkers to W Africa.
Handy (USA/N.Atlantic/Lakes/S.America)
Demand remained limited and rates under further pressure on all trades from this area. The only attractive rate reported was the $12,500/d agreed on an Ultramax for a trip from USG to E Med; even if the rate was inflated by the vessel type, positional and size matters (the vessel ballasted from USEC). Usually, a nice 58,000 dwt on the same trade is fixed not more than $9,500/$10,000/d. Stems from USEC showed an unfancy 57,900 dwt done at $9,000/d to the Cont and a 32,800 dwt fixed at $6,000/d on same trade. Another unfancy 56,000 tonner got $9,000/d from ECSA to Brazil, and a smaller and more eco type 50,000 dwt was fixed at just $3,500 from Brazil back to the USG. Front haul business from ECSAm registered a 57,000 dwt fixed at $9,500/d + 90,000 bb to MEG with sugar. With a similar dely a 17 year hold Hand y y ymax accepted a trip tp F East at just $7,500/d with no bb at all.
Handy (Indian Ocean/South Africa)
Reported fixtures from these waters were still missing. Some demand to load mineral from Iran to Israel was registered. Otherwise only the very low rates for MEG concentrates were available for fixing. A Handysize cargo from this area to Med showed several owners competing at extremely low levels and was then rumoured to booked on voyage basis at $1.50/mt below charterers initial freight ideas.
Banchero Costa and Co Spa
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