Capesize (Atlantic and Pacific)
Capesize remained largely flat with some improvements reported on the voyage rates mainly due to raising bunker prices rather than for a real improvement of market conditions. In Pacific, West Australia/China route touched mid $4/mt and East Australia cargoes from Newcastle to South China kept fixing in the low $6/mt. Out of South Africa some backhaul cargoes were reported fixed in the mid $4/mt. Iron ore stems from Saldanha Bay to North China went for low/mid $7/mt. Fronthaul from Brazil moved up in the high $10/mt or even $11/mt, but there were owners willing to repeat that by the end of the week. Atlantic was quiet and slow: few C7 cargoes fixed mainly at index while from Black Sea to China, March dates, a fixture was reported at $17,000/day basis delivery aps Yuzhny.
Panamax (Atlantic and Pacific)
Another negative week for the Panamax market. The Atlantic basin registered a lack of fresh cargoes and long list of spot vessels. Only from USG some fresh requirements were seen, mainly to Middle East, but owner were hesitant to fix at current low market levels. Fronthaul rates were still around $11,000/d from USG ( with no ballast bonus) and $11,000/d + $110/130,000 from S America. Not many fixtures were reported for TransAtlantic trades with rates that were still around $6,500/$7,000/d. Quick Baltic RV were still fixed around $5,000/d. Also BSea was still dull with just a few business concluded. In Far East rates were falling everywhere under the pressure of the imminent holidays. Very little news available for NoPac with some trips fixed around $4,000/d dop equivalent. India was the pivotal market with cargoes from Australia to EC India agreed around $4,500/$5,000/d. Indonesia RV were fixed around $2,500-$3,000/d on dop equivalent. Time charter period was still of interest, but activity was very limited with a few fixtures for short period rumored below $7,000/d.
Handy (Far East/Pacific)
Demand remained limited and rates collapsed in the Pacific market. Only two deals, both for backhaul business were reported at such a low level that it is clear owners only wanted to try another area. A nice 55,000 dwt from N China to NCSAm agreed $2,800/d for the first 70 days and $9,000/d for any additional duration. Another backhaul with redely USG was agreed at $3,000/d for the first 70 days and same rate for additional duration. No fixtures reported for local trades. Supramax were rumoured at $5,000/d aps dely for trips between SE Asia and Philippines and around $4,000/d or less basis dely Spore for trips via the same loading area to full range India.
Handy (North Europe/Mediterranean)
North European market was quiet. Med Sea registered several shipments of commodities of lower value as it usually happens when the market is depressed. Supramaxes were reported fixed at $5,000/d to load clinkers to W Africa. Approching theend of the week another fixture was agreed at $4,000/d for the same trade. BSea was still suffering with the highest fixture agreed at $7 000/d on a 56 600 dwt for a trip to MEG From BSea other fixtures were around$2,200/d for trips to USG or to Cont.
Handy (USA/N.Atlantic/Lakes/S.America)
Activity remained scarce, but some positive indications were registered. A few trips were fixed out of USG at slightly better rates and a 55,800 tonner agreed $12,250/d for a trip to F East. A slightly larger unit agreed $10,500/d to load scrap to the E Med. Optimism faded away quickly after seeing a 56,000 dwt agreeing $10,500/d for a trip from Spore to Japan and a 53,000 tonner taking another scrap into Turkey at just $9,200/d. S America market remained on a negative trend the whole week with a trip for a 57,000 dwt to F East fixed at $9,000/d + $90,000 bb. A 52,000 tonner agreed $7,000/d for trip via RSea with redely Port Said, and a 29,000 dwt accepted only $7,250/d for a trip from Recalada to WCSAm.
Handy (Indian Ocean/South Africa)
Some fixtures showed improving rates for Supramax. In particular some trips were fixed to carry raw materials from MEG to India. Actually rates take into account the terrible market owners will face on their subsequent employment. At the moment, Supramax tonnage availability EC India seems to have no beter choice than fixing and Indonesia round voyage with coal which will hardly exceed $2,000/d. A fancy 30,000 dwt agreed $6,300/d for trip from SAfr to Cont.
Banchero Costa and Co Spa
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