Capesize (Atlantic and Pacific)
The Capesize market finally had a positive week with both the Atlantic and the Pacific basins showing increasing performance and a very good level of activity reported for cargoes out of Brazil. The standard route from Tubarao to Qingdao moved from USD 12 pmt to USD 13 pmt for August dates and main charterers as Vale were still in the market looking for tonnage when the week was coming to its end. In the Pacific waters, miners tried to freeze the market at the beginning of the week but they were then forced to accept owners’ rates, which passed from USD 5 pmt to high USD 5 pmt for the route from West Australia to China. Period activity was still missing even if levels are now increasing. Out of the North Atlantic, few cargoes were reported fixed, but number of cargoes remained far from being decent enough to draw a positive trend there as well.
Panamax (Atlantic and Pacific)
The North Atlantic market made a big jump this week reaching higher rates, the Black Sea and the Continent loading absorbing most of the tonnage and the charterers are obliged to look at ships from the Middle East Gulf and India and briefly Singapore. A 2013-built 76,000 dwt fixed from Port Said via the Black Sea and the Red Sea with Port Said redelivery at $12,000/d. Many charterers tried to keep their cargoes off the market to try keeping rates lower but without much success. South America took a breather but owners with ships in ballast still remained relaxed as the Black Sea attracted tonnage. Some cargoes have been fixed, including a good Kamsarmax fixing from the Cape of Good Hope via East Coast South America to the F East at $11,250/d plus a $400,000 ballast bonus. In the East, the coal from Indonesia kept the market under pressure, especially due to Chinese and Indian demand. A 2004-built LME fixed from Cai Lan via Indonesia to India at $10,000/d while a Kamsarmax fixed from Taizhou via Indonesia to China at the same rate. However, NoPac trading was limited and the tonnage list in the North continued to grow but, so far, rates were holding steady with most now prepared to wait until the next week for a clear direction. Also period business is slightly softer.
Handy (Far East/Pacific)
The Supramax market has been quite active last week with rates improving a bit. A 61,000 dwt was reported to have fixed and failed on subs bss dely China at $10,750/d for carrying nickel ore to S China with an option bss redely N China at $11,500/d, while a 56,000 dwt was reported to have fixed the same trip at $10,000/d basis dely Hong Kong. Supramax rates for Australian RV have been reported to reach around $8,000/d bss dely SE Asia and redely China, while rates for coal trades from Indonesia to India were reported to be around $11,000/d basis 56,000 dwt with dely Spore. The Handysize market in these waters remained active and stable during the week with rates reported to be around $7,000/d for short voyages from Japan to SE Asia, basically around same level reported also for Australia RV basis dely Spore on a standard 35,000 dwt.
Handy (North Europe/Mediterranean)
The trades from the B Sea to the Med changed their trend with rates for a standard 56,000 dwt reaching around $17,500/d bss passing Canakkale for a trip to the Spore/Japan range, while a nice 56,000 dwt Mitsui type carrying clinker from the B Sea was reported at $11,000/d with redely in Abidjan. On the trade from the B Sea to E Africa the 45,556 dwt Bunun Champion was rumored to be on subjects with dely Nemrut Bay for a trip via the B Sea to Mombasa with redely passing Durban at $12,250/d, while a similar unit was agreed at $10,750/d for a comparable run from Constanza to Mombasa with Durban redely. Rates for Supramax in the Atlantic also rose a bit reaching around $8,000/d bss passing Canakkale. The Supramax market in the Cont has been steady with vessels fixing around $10,500/11,000/d range for scrap trips via the Cont to the Med, and a Handy fixed $9,500/d for the same trip. Handies showed higher rates and a 28,000dwt fixed bss dop Aviles for trip via Aveiro to Douala with redely passing Abidjan was rumored to be fixed at $9,400/d.
Handy (USA/N.Atlantic/Lakes/S.America)
The market in the USG has shown good rates during the week with a 63,000 dwt reported to have fixed a trip from the USG to Japan carrying grains at $19,500/d, while rates for trips with petcoke from the USG to the E Med on Ultramaxes were rumored to have been done around $14,500/d on t/c basis and basis aps the Texas Gulf and redelivery Turkey. Some Ultramaxes were reported to have fixed $12,750/d for trips with grains from the Mississippi river and redelivery in the E Med. The Handysize market didn’t show too much activity except for a 32,000 dwt rumored to have fixed basis dely North Brazil and redelivery at the USG at $9,000/d with alumina. The market in ECSA increased quickly with Ultramaxes reported to have fixed up river trip to the Med with grains at around $16,000/d. Nice levels have been reported also on Supramax for the front haul trades with a 57,000 dwt reported to have fixed a trip to the Spore/Japan range with grains at $12,850/d + $285,000 bb bss dely Santos. The Handysize market in ECSA was active too with rates for trip to Morocco/Med fixed around $10/11,000/d bss dop Brazil depending on the specs of the vessels.
Handy (Indian Ocean/South Africa)
The market in these waters registered a very positive week. Rates for 50,000 MTs of coal from Richards Bay to Pakistan on voyage basis were reported to be around $13/mt. Ultramaxes in Indian Ocean were showing rates for short period redely WW at $10,500/d and owners asking $11,000/d bss dop WC India.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it