January 3, 2017 – January 6, 2017 Weekly market report.. Banchero Costa

Wednesday, 11 January 2017 11:01:55 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

Capesize market started in the New Year with a positive mood and only few ships left unfixed for prompt dates. A further help to the owners arrived from the bad weather conditions which played a big role in Pacific giving uncertainty and forcing charterers to pay higher rates. 
Brazil market was one of the more active with the key route from Tubarao to Qingdao went up to $14/mt for January dates, while in the Pacific the standard route from West Australia to China was paid in the high $6’s. Period activity was also remarkable with various charterers looking for taking tonnage in, and the feelings were buoyant for months ahead. The period levels still show a discount compared to the spot market but, in any case, much better than everybody's expectations on the end of last year.

Panamax (Atlantic and Pacific)

During last week the market in the Atlantic area has shown signs of improvement with USG Front Haul trips being reported fixed at $14,500/d + $450,000 bb on a Kamsarmax vessel via COGH and $13,000/d + $300,000 bb on a 76,000 dwt basis aps dely while similar size fixed for trip to Skaw-Passero at $13,500/d. From ECSA a 76,000 dwt was reported fixed for trip F East at $9,000/d + $400,000 bb basis aps dely while similar trip has been also reported fixed at $5,800/d on a Kamsarmax vessel basis dely Spore. A Kamsarmax vessel was reported fixed bss Passero for trip Via Itacoatiara to Skaw-Gib at $8,400/d while from Continent similar size fixed $8,500/d basis Dunkirk dely for trip via Baltic to Skaw-Gib redely and also a 93,000 dwt fixed $8,000/d bss dely Hamburg for trip via Murmansk to Continent. In F East levels seen were on the lower side where 80,000 dwt fixed $5,000/d bss CJK dely for trip via Australia to China while $4,000/d + $50,000 bb was reported fixed on a 75,000 dwt bss aps Samarinda for trip to S Korea. NoPac RV has been reported fixed at $6,000/d on a Kamsarmax bss dely S Korea and around $5,500/d bss dely Qingdao. On the period front 82,000 dwt been reported fixed at $8,500/d for 12 months period bss Yangzijian and $8,750/d for similar size for 4-8 months bss Dalian dely.

Handy (Far East/Pacific) 

A reduced chartering demand limited to local trades was reported in these waters, with quite low rates for owners and no sign for a better trend in the near future. Coal from Indonesia to EC China reported a 58,000 dwt fixed at $5,800/d with delivery Singapore. The same commodity was shipped to India on a 56,000 unit getting $5,000/d with delivery EC China and another similar vessel was done at $6,200/d with delivery Hong Kong. On a backhaul from S China to W Africa, a Tess 52 got $4,200/d flat rate for the entire duration, and another Supramax was heard fixed from N China to the MEG at a daily hire in the mid 4’000’s. A 28,000 unit delivering F East was booked for 5 to 7 months period charter at $5,500/d.

Handy (North Europe/Mediterranean) 

Slow trading for spot business loading out of these areas showed a limited amount of fixtures with better rates for Handysizes. A 30,000 dwt delivering at Egyptian Med fixed a trip via turkey to W Africa at $13,400/d, on the same trade a 53,000 size got $10,500/d basis delivery Turkey. Another similar size vessel delivering at B Sea got $8,500/d for a trip to the Med and, from this area, Supramaxes were evaluated around $12,000/d for business to Far East and around $13,000/d for trade to the Middle East. A 32,000 size was reported fixed with delivery Egyptian Med for a trip via the Black Sea to India at $10,750/d, while a Supramax got a daily rate of $11,500/d with dely Belgium for a trip with scrap via lower Baltic to the E Med.

Handy (USA/N.Atlantic/Lakes/S.America) 

Rates kept good enough for owners to fix from the USG a non fancy 59,900 dwt at $16,500/d from this area to the Far East. Better vessels with a similar delivery were said to be fixed around $16/16,500/d to Med and Continent. Supramax and Ultramax market from S America was less attractive, a 63,000 dwt delivering on the coast booked a trip to MEG/Japan range at $12,500/d plus $250,000 bb, a Supramax was rumored of getting paid $9,000/d with delivery S Africa for loading from south America and ending up into the R Sea and a 56,000 dwt fixed $16,000 aps Recalada for a trip to WCS America. A couple of 30,000 tons sized vessel were said to be paid around $11,000/d from same area to Europe.

Handy (Indian Ocean/South Africa)

Only few reports of concluded activity were registered in these waters. A fancy 57,500 units reported fixed from Egyptian Red Sea to India at a ‘hard-to-believe’ $14,500/d. 
Supramaxes delivering at MEG to perform trips loading from Iran to China were said to be still evaluated around $13,000/13,500/d and a 55,000 dwt delivering at MEG got $10,500/d for a trip to Vietnam. A standard 56,000 size was reported fixed at $8,000/d from WC India to China, and another one delivering at Bangladesh fixed a trip with iron ore loading from EC India to China at $5,000/d.

Banchero Costa and Co Spa 
Email: research@bancosta.it 
Internet: www.bancosta.it


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