Capesize (Atlantic and Pacific)
The Capesize market remained stable in the Pacific basin whilst in Atlantic lower rates were registered for Brazil fronthaul and higher numbers were reported in N Atlantic. West Australia-Qingdao registered good activity with all the miners in the market, but rates remained flat fixtures at $4.55/mt done several times for end of July dates. Saldanha Bay-China softened a little and a unit was fixed at $6.85/mt for the first half of August dates. Brazil-China was traded in the region of low $9's/mt basis first half of August dates. In Atlantic Bolivar-Rotterdam was fixed around $5.40/mt whilst charterers fixed around $6,750/d for RV basis dely passing Gibraltar. Positive signs came from the fronthaul where a number of fixtures were reported: a timercharter trip to China via East Coast Canada was agreed at $16,500/d for nice vessels open UKC while $15,500/d was done for a standard Capesize. Even though the short period activity was very quiet, the only fixtures was rumored around $9,000/d for about 5/7 months dely prompt China.
Panamax (Atlantic and Pacific)
The Panamax market kept a positive trend. Activity from ECSAm and B Sea was firming whilst it was slowing from USG area. In ECSAm a 82,000 dwt was reported fixed at $8,300/d + $330,000 bb via Amazon to F East and, on similar trip, an 81,000 dwt was fixed at $6,250/d basis dely India. For single trip via ECSAm to Med a Post-Panamax was reported fixed at $12,500/d basis dely Brazil via R Sea and redely Med. A Kamsarmax ballasting towards ECSAm was reported fixed at $6,900/d + $295,000 bb basis COGH for a fronthaul via ECSAm while, for one trip loading S Africa to India, a similar size was fixed at $6,300/d + $125,000 bb. From USG a 74,000 dwt was fixed at $10,750/d for one trip via USG to F East basis Passero dely. Strong activity was seen in Med with an 81,000 dwt fixing dely Barcelona $8,250/d for a trip with loading in B Sea via R Sea and redely Passero. A similar trip was done on a Post-Panamax at low mid $9,000/d basis dely B Sea, while for trip to F East a 75,000 dwt was fixed at $13,900/d dely Iskenderun via B Sea. High levels were also seen in Continent where an 80,000 dwt fixed $8,000/d basis Ghent for a trip via Murmansk with redely Skaw-Passero, 2 laden legs were also reported from Continent where a 76,000 dwt fixed $9,000/d for dely Bremen with redely Skaw-Gibraltar. F East also has shown an increase in the market levels with Kamsarmax vessels now fixing NoPac rounds at mid high $7,000/d basis China dely, and also an 80,000 dwt was seen reported $7,000/d fixing dely Taiwan for one trip via E Australia to India. A 74,000 dwt fixed basis S China via Indonesia redely India at $6,250/d while a 76,000 dwt was fixed at $6,500/d for dely CJK for a trip via E Australia to S China. For 2 laden legs a 75,000 dwt fixed basis dely Hong Kong with redely worldwide at $8,000/d, while for 4/8 months period a 78,000 dwt was reported at $6,750/d dely S China.
Handy (Far East/Pacific)
Activity in Far East for Supramax remained strong for the whole week and rates in SE Asia improved at least $500/d on the coal trade as showed by a non-economical 57,000 dwt fixed at $7,000/d basis dely Spore. The same hike was not registered on rates for nickel ore which are around $1/2,000/d higher than coal.
Handy (North Europe/Mediterranean)
The Supramax market in Northern Europe remained stable over the past few weeks. A deal for a 55,000 dwt for a coal cargo from Skaw to E Mediterranean was rumored at $9,000/d and then failed on subjects. The activity on the scrap cargo trade was still pretty strong with charterers ready to pay Supramaxes around $9/9,500/d basis dely aps Continent for a trip to Turkey. Good activity also for handysize/Handymax with rates for East Med discharge around $8,000/d and fronthaul close to $10,000/d. In Black Sea rates for fronthaul increased by at least $2,000/d and rates for Supramaxes basis dely E Med reached the $12,000/d mark for a trip to Spore/Japan range. The Handysize market also increased with one 38,000 dwt that was reported fixed for a trip to Caribbs at $6,000/d from Black Sea.
Handy (USA/N.Atlantic/Lakes/S.America)
The Supramax market was a bit weaker largely thanks to charterers carefully hiding a part of their enquiries and a good number of ballasters expected to arrive soon. Fronthaul was reported at $14,000/d for trip to Spore/Japan range. Trips to Med were fixed around $11/12,000/d depending on the specs for Supramax/Ultramax. A little discount was reported for trip to Cont due to the better redelivery: a Tess52 was reported at $10,000/d basis redely Continent. The ECSAm market was stronger in particular for Handy: a 34,000 dwt was reported at $7,600/d from N Brazil for a trip to Cont and a 38,000 dwt achieved $8,600/d for Baltic redely. The Supramax market was stable with rates for fronthaul around $9,500/d + $100,000 bb basis dely aps for good Supramax.
Handy (Indian Ocean/South Africa)
The market in this area was a little weaker especially in Indian Ocean: charterers were rumored to have fixed 50,000 mt of coal at 10% for $12/mt from S Africa to Djibouti. Rates for fronthaul on TC basis were reported at around $10,000/d. From MEG a 53,000dwt was reported for trip with limestone to EC India at $5,500/d.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it