Capesize (Atlantic and Pacific)
The rush of the Index over $15,000 suddenly lost stream as more offers emerged in the Pacific market. At the end of the week owner agreed in mid-$7/mt for West Australia/China cargo while iron ore cargo from Saldanha Bay to Qingdao lost almost all the gains and was fixed in the low/mid-$13/mt. In the Atlantic, spot cargoes from Tubarao to Qingdao fixed above $19/mt while rounds stood in the $15,000/d. Period market reported some fixtures for 24/30 months in the low-$14,000/d for good described ship.
Panamax (Atlantic and Pacific)
The dip of the market we have been projecting over the past few weeks seems come into reality. There are a few resistances mainly when charterers are spot and tonnage is tight -- that was the situation in the Continent, where charterers needing tonnage in this area this week again faced a lack of prompt tonnage and in turns firming rates for the short Baltic rounds. Rates culminated as a 75,000 tonner open in Poland fixing a Baltic round at $16,000/d. But overall we are sensing a shift in momentum. In the Atlantic rates trended sideways into the close of the week, with much of the available tonnage gone. Ballasters are arriving, and where the market goes next week will depend on the volume of fresh inquiry seen, although charterers were already pressing rates. In the East, rates remained inconsistent and even two similar ships seemed unable to achieve similar numbers. There was increased activity from Australia and several ships have been reported fixed but rates varied depending on specification and delivery.
Handy (Far East/Pacific)
Activity in FarEast/Pacific zone was very active with many fixtures reported. Many coal cargoes went out of Indonesia/SE Asia region with rates around $10/11,000 daily basis dely aps SE Asia/Indonesia for trip back to India/China. Nickel ore cargoes were reported to be fixed at around $9/7,000 daily basis dely dop N China for tct via SE Asia back to China. Supramax market has reportedly fixed a Singapore/Thailand run via Indonesia at $9,200/d basis spot delivery. Period business was also active yet the majority of the fixtures was not disclosed in the market and remained private and confidential. A Dolphin 57,000 dwt was reported to be fixed by Victory Shipping at $9,150/d, considered as a nice level for a Chinese built ship.
Handy (North Europe/Mediterranean)
A very quiet week saw Star Omicron 53,000 dwt at $10,750/d for 3/5 months redelivery Atlantic as the only one fixture reported in the Med. Some fixtures were concluded in the Continent on private and confidential basis, whereas some large Supramaxes were fixed in the region of $13,000/d for Continent Round Voyage. There were some other fixtures still done on private and confidential in the region of $7,000/d passing Canakkale for inter Med cargoes either with grains or steels.
Handy (USA/N.Atlantic/Lakes/S.America)
Not many fixtures were reported during last week in the two regions although activity was still firm with many of the business concluded on private and confidential basis. The remaining spot requirements were covered either by Handysize or Supramaxes. Also period business was reported to be done in the region of low/mid $10,000/d basis dely aps USG or NCSAm for short period or 2/3 laden legs redel Atlantic. Trip out of USG to the Med saw the 58,000 dwt Genco Languedoc fixed at $21,000/d, still showing a pretty firm rate.
Handy (Indian Ocean/South Africa)
Activity in Indian ocean as per Cont./USG area was on the silent side, however there were many requirements for limestone out of PG to India or trip back aps PG to Red Sea paying in the region of $10/11,000 daily, depending on the specs of ships. From Iran we saw the Sharp fixed at $10,000/d basis dely dop Mundra but with an additional premium of $35,000, which made it earn at least $1,000 more on the daily rate.
Banchero Costa and Co Spa
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