Capesize (Atlantic and Pacific)
Capesize market started the New Year with rates dropping in all basins. In Pacific rates continued to soften with $2.95/mt agreed at the start of the week for mid January dates, although mid week rates suddenly improved up to low $3's. However, in the end of the week, the standard route from West Australia to Qingdao dropped again to $2.85/mt. Trades from Saldanha Bay to Qingdao followed the same trend with rates agreed in the mid/low $4's basis end Jan dates. Out of Brazil the lack of fresh cargoes and a long list of ballasters forced owners to accept lower rates with $6.50/d and $6.25/mt agreed for end January dates. Some activity was registered for cargoes from Brazil to UKC with some vessels fixed in the very low $3's and even $3/mt done bss Tubarao/Rotterdam. The Atlantic market was under pressure too and $4.30/4.00/mt were fixed for standard route from Bolivar to Rotterdam bss end Jan/early Feb dates whilst on timecharter $5,500/d was done for TransAtlantic. Very few deals reported for short period around $4,500/4,750/d for 4/6 months.
Panamax (Atlantic and Pacific)
During last week a strong increase in the number of ballasters towards ECSAm was noticed. Rates there were already dropping from the fixture of a 77,000 dwt built 2004 at $7,000/d +$200,000 bb for front haul, to a lower level around $6,500/d + $150,000 bb on a 74,000 dwt. A 76,000 dwt was reported fixed around $5,750/d for a tct via ECSAm to Skaw/Passero. Vessels considering ballasting towards the USG levels were a tick under $9,000/d + $90,000 bb bss USG or $7,000/d bss Gibraltar for front haul on a 75,000 dwt size vessel. In USG a 82,000 dwt 2013 built, was fixed at $9,500/d + $95,000 bb for a trip to F East basis. A 81,000 dwt open Rotterdam got $4,750/d bss dop for a Baltic round via Murmansk. In B Sea levels were around $4,000/d bss Canakkale for trip inter-med and $7,000/d for front haul on a 75,000 dwt. In F East levels remained on the low side with vessels reported at $3,000/d for delivery Kohsichang to China on a 76,000 dwt. A 76,000 dwt was fixed at $4,000/d + 100,000 bb bss aps for a NoPac redely Spore-Japan. On trips to India loading in Indonesia a 80,000 dwt got $3,000/d + $30,000 bb bss Indo redely full India. Charterers still showing interest in taking vessels for short period in Far East where levels seen close to $5,000/d are still maintaining a small premium over the spot levels.
Handy (Far East/Pacific)
The surplus of available tonnage added to a slower chartering activity brought additional pressure on the market. A fancy Ultramax was fixed at $6,000/d + $100,000 bb basis dely ppt N Pacific for a trip to the Philippines, afterwards another vessel was reported at $4,600/d plus the same ballast bonus for early February dates. On the Indonesia/India coal run Supramaxes were initially done at $5,250/d with aps dely WC India and at $4,300/d dop Spore to EC India. At the end of the week a 57,000 size was reported agreed at $4,250/d with aps delivery and redely full range India. From the same loading range similar sizes were getting mid/high $3000’s daily for local trips or basis redely in the F East. No backhaul business was reported done, but another Supramax was being discussed at a rate around $2,000/d from F East to N Europe. On Handies a 33,000 dwt agreed $4,000/d basis dely Spore for a trip via Australia back to Spore/Japan range and a 14 years old 28,000 dwt vessel got $4,300/d from Vietnam to carry bagged cement into the Philippines.
Handy (North Europe/Mediterranean)
Fronthaul rates from B Sea and N Europe were described as falling even if no concluded fixtures were reported. The slowly resuming clinker trade from the E Med to W Africa showed a 19 years old Handymax fixed at $4,750/d followed by a better 53,000 size getting only $4,000/d on the same trade. A modern 32,000 dwt was fixed at $4,400/d aps Novorossiysk to perform a trip with grains into Egypt Med, the rate is partly compensated by the owners benefiting cheap price bunkers at delivery port. From N Europe there was only one Handysize voyage fixture reported for 28,000 MT of grains from an expensive U.K. port to S Spain done at a low $10.50/mt.
Handy (USA/N.Atlantic/Lakes/S.America)
Despite higher demand from these areas the large amount of open tonnage weakened further the rates on all trades. Fronthaul fixtures loading from USG showed two Supramaxes carrying petcoke to India at $11/11,500/d, a fancy 58,000 dwt carrying grains was reported done to Japan at $10,500/d and a similar unit loading the same cargo into South R Sea at $7,250/d plus $225,000 bb. TransAtlantic showed another Supramax fixing $5,900/d to N Europe, and a 55,000 dwt agreed a quite fancy $9,500/d for a trip to Morocco due to a last minute replacement. Handysize activity from the area reported a 34,000 dwt fixed to WCS America at $7,500/d and another similar size agreeing $6,250/d for a trip to Spain. A standard 56,000 dwt got one year period at $6,250/d. Rates for loading from S American ports continued to drop. A 57,000 dwt delivering Amazon River was fixed at $6,000/d for a trip to the West Med, near to a 29,000 dwt done to the Cont at $4,250/d with a southern delivery. A standard 57,000 size was fixed at only $6,500/d for a trip to SE Asia, a similar vessel carrying sugar to India agreed $8,500/d and a third one got $7,350/d plus $75,000 bb basis redely Spore/Japan range.
Handy (Indian Ocean/South Africa)
No reported fixtures were available from this area where the demand was even more sleepy than elsewhere. Supramax size tonnage was traded to move fertilizers into Atlantic Americas with charterers evaluating the tonnage around $1,000/d.
Banchero Costa and Co Spa
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