Capesize (Atlantic and Pacific)
The Capesize market remained quiet and no sign of recovery was given. The key route West Australia/China did not move from the mid $7/mt level. Charterers out of South Africa paid mid $13/mt for cargoes to China. Out of Brazil, market was still sliding and charterers managed to break a $19/mt for Brazil/China cargo. The Atlantic situation wasn't positive: Bolivar/Rotterdam cargo for the beginning of August was fixed at $ 7,85/mt which showed a TCE of about $3,000.
Panamax (Atlantic and Pacific)
Another quiet week almost everywhere. In the Atlantic range trading was slow with more ships than cargoes coming into the market and rates not rising; not only in ECSAm where spot vessels were struggling to find employment, but even in those areas, like the N Atlantic, where more activity was seen. TA RV were fixed around $5,500/d for vessels open Cont or W Med and fronthaul was mainly reported around a low 12k + low 200k. Despite this lethargic spot market charterers were still interested in trying period tonnages but found some resistance from owners unwilling to commit at such low levels for months. Levels were around the $8,000/8,500 for 4/6 months around mostly in the low $9,000/d for a duration up to 1 year. In F East levels continued to slide and charterers were again able to set up trading structures mostly based on aps delivery. Nopac RV were done around $5,000/d and Australia RV were paying better (mostly done in the $6,000/d ). Indonesian coal was still the pivotal trade but rates were pushed down from the great numbers of spot ships and anxiously looking for a quick employment, hoping to be open again shortly and see better numbers. Only some particular cargoes, like sulphur or petcoke, showed dop rates agreed by charterers.
Handy (Far East/Pacific)
A fancy 58,000 dwt fixed at $9,600/d delivering and loading in Indonesia for a trip into EC India was followed by a fixture on a slightly smaller vessel at $9,350/d for a trip with steel from N China to WC India; probably positional reasons influenced the deals as afterwards the trend became negative again. A fancy Ultramax was agreed at $8,000/d for a trip into WCSAm, which besides the unfavorable redelivery is going to last quite long, and only $6,500/d was the rate agreed for a 50,000 dwt delivering at Thailand for a trip with coal via Indonesia into full range India. Unconfirmed rumors also said that another Supramax was booked at around $87,507/d. A 28,000 dwt was fixed at $9,500/d delivering at E China for a trip via Japan to Bengal Bay, and a very similar vessel was fixed at $3,000/d for a short positioning trip into SE Asia. Such fixtures seem to prove that Handysize still obtain premiums from charterers to trade in the difficult Middle East market.
Handy (North Europe/Mediterranean)
Still a very quiet week in N European ports. A 56,000 dwt was fixed at $4,000/d for a trip with salt Morocco/ Saint
Lawrence seaway, much better compared to the $2,250/d + escalation fixed on a 52,000 dwt basis delivery Bsea and
redelivery EC Mexico. On this trade, the basic rate normally is applicable for up to 40 days duration and the escalation rate is usually around $9,000/9,500/d for the balance. A further confirmation of the prevailing negative trend in this area came from the $8,000/d fixed on another 52,000 dwt for a trip Bsea/F East.
Handy (USA/N.Atlantic/Lakes/S.America)
The increase in the number of Supramax and Handymax fixtures concluded for single trips from Atlantic Americas, was the consequence of an excess of available tonnage, but the rates showed a sideway trend rather than improve. From the USG a 56,000 dwt was fixed at $8,000/d to Turkey and a 58,700 dwt at $12,000/d to F East, both with petcoke. A better $11,000/d was agreed on a Handymax to carry petcoke to Lebanon although the discharging country calls for a premium. Smaller tonnage on TA trips into Med decreased from an already unattractive $7,500/d to $7,000/d; similar sizes got just $6,750/d to the Cont and $8,750/d to a less attractive W Afr destination. Even if the volume of concluded deals basis loading SAm was quite larger, almost no benefit was brought to rates. A $11,000/d basis was agreed on a fancy 58,000 dwt delivery S Brazil redely Algeria. Reports showed charterers prevailing interest for smaller sizes which followed anyway a downwards trend. An initially attractive $10,250 to a 35,000 dwt for a trip from Argentina to lower Baltic, was followed by a $9,000/d with similar delivery for a trip to Med to a smaller vessel,
and later by a $7,000/d and $8,000/d agreed respectively for a 28,000 dwt and a 34,000 dwt both to Baltic.
Handy (Indian Ocean/South Africa)
No reports of concluded fixtures from these waters. Charterers involved with Supramax sized coal stems from S and E Afr are searching for owners there to obtain very low rates but so far no news about finalized deals.
Banchero Costa and Co Spa
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