Capesize (Atlantic and Pacific)
Very limited activity during last week with most of the major players out of the game due Chinese New Year. The Pacific suffered the lack of fresh enquiries and very few fixtures reported. W Australia to China trade saw rates dropping from $7.60/mt to $7.10/mt for mid February dates. A NoPac RV was agreed at $9,500/d at the beginning of the week, but owners were unable to repeat that level at the end of the week. In Atlantic the market remained idle for most part of the week. From Colombia a unit was fixed at $9.25/mt to Rotterdam + Immingham for 19/28 February dates. Backhaul from Tubarao to Rotterdam fell from high $8.00/mt to $8.15/mt. Fronthaul rates remained low with a couple of fixtures done at $19.85/mt on Tubarao/Qingdao. A unit open E Med achieved $34,000/d for a timecharter trip via Black Sea to FEast via Suez.
Panamax (Atlantic and Pacific)
Due to Chinese New Year holidays last week was quite with a smaller volume of fixtures and lower rates. Transatlantic RV was fixed at around $11,000/12,000/d and USG/FarEast in the low $20,000/d basis dely dop Continent; delivery aps USG was at $18,000 + 800,000 bb. A different scenario characterized ECSAm because of the large amount of tonnage ballasting from FarEast that drove down rates for February dates at around $16,000/d + $600,000 (in the low $40/mt on voyage basis). Long NoPac RV were around $8,500/9,000/d, short rounds were done on aps basis at around $7,000/8,000 + 100/120,000 bb. Period rates were still strong supported by derivatives market with short period up to one year largely concluded in the $14,000/d.
Handy (Far East/Pacific)
The export ban in Indonesia and the holidays in China kept spot activity small and brought further downward pressure on rates. For Indonesia-India trade a 57,000 tonner got $5,000/d + 40,000 bb basis aps dely, afterwards a fancier 58,000 dwt got $5,000/d + 50,000 bb and the week ended with rumours of another fixture concluded at $4,500/d basis dely dop Lanshan. Indonesia to China was a little better with a 58,000 dwt agreed at $6,000/d + 75,000 bb basis dely aps Indo and redely C China. NoPac activity was still alive with an Ultramax booked at $8,000/d + 330,000 bb and a 36,000 dwt achieving $6,000/d basis dely S Korea. At the end of the week there were rumors of a Supramax taken aps in N Pacific for Feast destination at $7,000/d + 250,000 bb. Short period was in a better shape with a 53,000 dwt agreed at $11,000/d for 2/3 months basis dely Spore, redely India/Japan range and a 56,700 dwt with higher consumption fixed at 10,000/d for 3/5 months redely worldwide.
Handy (North Europe/Mediterranean)
Small activity in the area with just two fixtures reported to move scrap from Cont to E Med. A 57,000 dwt standard type got $17,000/d basis dely Baltic via Cont and a 32,000 dwt that achieved $13,250/d on the same trade. No news for fronthaul or Med/BSea with the Baltic Index further decreasing. A Supramax was rumored fixed on voyage basis for a cargo of bulk fertilizers of about 42,000 mt from a draft restricted port of Morocco to SE Asia at $45/mt.
Handy (USA/N.Atlantic/Lakes/S.America)
Even from Atlantic Americas rates started weakening on the TransAtlantic trade. A 57,000 dwt carrying woodpellets from US Atlantic to Cont was reported at the beginning of the week at $26,000/d; 3 or 4 days later a fancier 58,000 tonner was paid just $ 22,000/d to move bulk wheat from USG to Algeria. Rates from this area to FarEast kept stronger, possibly as consequence of the further weakening in Pacific waters. A 58,000 dwt got $32,000/d from USG to FarEast and a 32,000 dwt with dely Gibraltar agreed a nice $11,750/d for a trip via USG to S America. Less news were available from S America where a 58,000 dwt was reported at $19,000/d basis dely Durban and redely FarEast and a bit smaller Supramax open WAfr was rumoured fixed at around $19,500/d on the same trade. Supramax tonnage open WAfr was fixed at around $23,000/d basis dely aps N Brazil to carry minerals to Baltic. Wafr via S America redely Skaw/Passero lowered to $12/13,000/d level.
Handy (Indian Ocean/South Africa)
A Tess 52 agreed $12,500/d for 1 year period with dely Bengal Bay, another sign that Middle East is stable or even firming compared to Pacific waters. Even if a few fixtures are reported there is a fair amount of interests for Handy and Supramax tonnage trading between India, AG, Red Sea and S Africa a decent rates.
Banchero Costa and Co Spa
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