January 7– January 13, 2013 Weekly market report.. Banchero Costa

Tuesday, 15 January 2013 11:06:39 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

The Pacific market was quiet last week as cyclone slowed down activities, with a few businesses fixing at $7 for loading at the end of Jan. The Atlantic market showed good activities, with a few ships agreeing at abt mid $6000 for round voyage. Fronthaul from Brazil was stable at the low $17-level. Period market also had good activities reported. A vessel with prompt delivery in Fareast fixed for 8/12 months at $10,250, lower than the previous week when a modern vessel was agreed for a similar duration above $10,750.

Panamax (Atlantic and Pacific)

The Atlantic market turned firmer in the past week, encouraged by some spot cargoes. The rate for USG to Fareast grain biz was talked close to $15,000/d+ $500,000 bb. The trip from US Gulf to Europe was also done at abt $8,000/d + $350,000 bb which is a large improvement compared to that of the last week. In the Pacific, grain traders and operators started to take vessels in SE.Asia and India for the forthcoming South American grain season. Some vessels in Singapore was done at mid-$7,000/d dop for such trip. Charterers were also looking for short period candidates in the Fareast and rating modern Kamsarmax mid-$7,000/d for 5/9 months. The spot market in the Pacific was still in the mud with Indonesia and Australia cargoes being rather limited. The modern panamax was still being talked at $5,500/d + $80,000 bb for E.Kalimantan/Fareast biz or $6,000/d + $300,000 bb for Nopac round.

Handy (Far East/Pacific)

This week had a slow start but recovered gradually as more trading activities came out. The chartering interest still concentrated on Supramax businesses out of Indonesia, but pileup of prompt available tonnages pressured the rates. Similar situation was also reflected on activities to India as well as on Fareast and Inter-Asia bound. At the beginning, spot tonnage could obtain a premium due to fresh chartering interest in short period, with a 56,800 dwt non-eco type vessel at $8,750/d for 6/8 months duration. Later even vessels with better consumption performance could not get more than 8,000/8,250 daily for 3/5 months.

Handy (North Europe/Mediterranean)

Trading out of northern Europe was still quite negative for the owners. No fixtures were reported concluded from this area and the list of available "fishing" tonnage further confirms bleak situation. Scrap charterers were rumored to fix a voyage with freight of $16.50 pmt for 31,000 ts from Ghent to Damietta. This was not encouraging at all given that a few weeks ago the prevailing rate for larger Supramax size was $21/22. Some time-charter trips were reported fixed out of the Black sea and Med at very unattractive levels. Besides the poor $3000 daily agreed for a fancy 33,800 dwt from Eregli to EC Mexico (which at least is a back-haul), we see a 50,000 tonner agreeing at $6000 for a trip span Med/West Africa and a 52,000 tonner at $9500 for Black sea/Fareast trade.

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

After a quiet start of the week chartering enquiry grew up from the USG and the Atlantic Latin America, allowing owners to easily regain last week's rates and then, with reduced tonnages push them even higher. Proportionally, the best money was available for trips into WC C/S America, loading either from the USG or S. America. Several vessels were fixed on this trade, with reported rates ranging from $12,500 for a 28000 tonner delivering at Recalada, upto a 51,000 dwt agreed at $22,000 daily with delivery USG. A good portion of deals were also concluded from the USG to Europe and to the Fareast, for both of which larger Handymaxes were agreed at $14,500/15,000 daily. From Atlantic Latin America rates were even better with Suprmaxes fixed at $13,000+300000bb for Spore-Japan, $18,000 for W. Africa and $16,500 for W. Med.

Handy (Indian Ocean/South Africa)

Chartering interests from this area remained unusually quiet with some further reductions on rates inducing owners to look again into Indonesia coal rounds back to India. Comparatively the rate agreed for a Suprmax loading iron ore from WC India to China was not that bad due to better position from the charterers' perspective. Moreover, tonnage open in the WC India/Persian Gulf range that allow immediate India trading are said to be gaining much better rates than supposed level in this area. A few vessels were employed on this trade during the week, but agreed conditions were not disclosed.

Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it


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