Capesize (Atlantic and Pacific)
Another falling week in the Capesize market. The Pacific remained idle for most part of the week, very few fixtures were reported. For W Australia/China, rates were in the low $7.00/mt and $10,000/d was agreed for a TC trip RV. The Atlantic trade remained on the low side with a lot less activity reported due to bad weather and a lack of tonnage. On voyage basis Bolivar/Rotterdam was agreed at $18.00/mt for end of January dates. There was a notice that the port of Drummond will be closed for the next 3 months due to maintenance. On Tubarao/Qingdao a cargo was reported under $20.00/mt. Another cargo was agreed at $34.74/mt from USEC to FEast. TC trip was done at $13,000/d usd was done basis dop Lianyungang for a BSea trip back to China via Suez. S Africa coal trade was the most active route during the whole week with Anglo American reported taking more than 5 ballasters at rates between $15.80/16.00 pmt. A couple of backhaul cargoes from S Africa to UKC were agreed at $8.00/mt on ballasters coming out from China.
Panamax (Atlantic and Pacific)
The beginning of the year has been slow affected also by the final part of long holidays. Apart from some good rates fixed by those charterers who badly needed coverage, charterers were not in any rush of fixing, but were waiting for everyone to get back and understand what the real offer was. At the end of week 2 TransAtlantic round dropped from $18/19,000/d we were used to till Christmas, to $15/16,000/d depending on duration and redely. USG/FE was not very active and traded in the $19/19,500 + around $900,000 bb. ECSAm to FEast was also calm, but a few fixtures were reported in the mid/low $15,000/d for grains basis dely dop Middle East and $14,500/d + $450,000 region was bidded for Atlantic direction basis dely aps ECSAm. Pacific round was bid in the $10,000/d while offers were in the $11,500/12,500/d. India direction via Indonesia or Australia were not that much at premium any longer. On the other hand period business was actively traded at levels in the $13/13,500/d region for short periods up to 1 year basis dely FEast and around $16,000/d for 1 year basis dely Atlantic.
Handy (Far East/Pacific)
Activity slowed through the holidays and kept slowing after that. Supramax got additional negative influence because of Indonesia mineral export ban, in force as from 12 jan 2014, which is no longer allowing nickel ore and bauxite exports from the country (the applicability if same to iron ore cargoes is not clear yet). Chartering interest for cargoes loading ex Australia and N Pacific was very small, as well as for backhaul trips. A 28,000 dwt was reported fixed at $8,000/d basis dely S Korea for a trip via NoPac to Europe. This looks very high if not even an error as similar sized fancy tonnage coming open in American Pacific Coast was getting evaluated not more than around $9,000/d for similar direction. For Supramax trading Indonesia, one of the last nickel ore cargoes to China was booked on a 50,000 tonner basis dely Spore at just $15,000/d, while a fancy large Supra dely Philippines got $12,850/d for a similar trade. Perhaps the last one was not involving Nickel Ore. Short period interest was small with a few Supramax reported between $10,750/d and $12,500/d depending on size/specs and dely area. Owners were willing to discount rates for employments into the Indian Ocean due to better levels available from this region for local trading or trips to the FEast.
Handy (North Europe/Mediterranean)
Market in N Europe was generally slow although two reported fixtures looked better than the others. A 19 year old 42,000 dwt got $16,500/d for scrap trip to E Med and a 32,000 dwt got $13,000/d to carry steels from Germany to Italian Adriatic. Supramax fixtures were available again for Eastbound cargoes loading ex BSea at growing rates during the last few days of the week. This was likely due to positional reasons as the volume of the trade remains very scarce.
Handy (USA/N.Atlantic/Lakes/S.America)
Compared to other areas activity remained good out of Atlantic Americas. Compared to the booming levels seen until the start of the holidays, TransAtlantic rates fell by approximately 25/30%. Trips to FEast decreased as a consequence of the falling market in FEast and owners prudently tried to keep their tonnage in Atlantic waters. Trips to E Med/Cont were reported to be in the $25/28,000 range, low $20,000s were seen for trips ex USG to Brazil and low $30,000s was the level for going East. Demand was lower, but similar rates were available for loading ex S America, where even a couple of smaller Handies were booked at $14,500/d to carry grains to Europe. Small period interest from USG showed a Handymax booked at $17,500/d basis redely Atlantic and a fancy 28,000 at a good $19,750/d for 2 laden legs redely Feast. Week ended showing a 56,000 tonner booked at a better $23,000/d for a trip ex NCSAm to FEast.
Handy (Indian Ocean/South Africa)
Rates from this area were improving and may further strengthen once requirements loading between end of Jan/first half of Feb will materialize. A 57,000 dwt got $10,250/d basis dely WC India to perform a trip via Persian Gulf and then back to EC India. A very similar unit got a nicer $11,000/d via S Africa to China. A quite poor $8,000/d was paid to a 15 years old 46,000 tonner to perform an Iron Ore trade from EC India to China.
Banchero Costa and Co Spa
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